Cummins engine demand lags

Investor's Business Daily

The diesel engine maker said adjusted Q4 EPS declined 22% to $2, 25 cents over analyst views. Revenue declined 13% to $4.29 bil, beating. Cummins (CMI) said truck, construction, and oil and gas market demand was weak in the U.S. It found weakness overseas in power generation equipment as well as construction, truck and mining engines. It guided for '13 revenue flat to down 5%, implying $16.46 bil- $17.33 bil. Analysts expect $17.66 bil. Cummins has an IBD Composite Rating of 63, an EPS Rating of 57 and a Relative Strength Rating of 64. Shares rose 2.6% to 120.38.

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