Cummins Inc.’s (CMI) Power Generation segment introduced a new range of generator sets that can run on natural gas or liquid propane. These sets are suitable for residential and light commercial operations.
The 22kW to 60kW QuietConnect and PowerConnect generators are in line with the current emissions standards and offer fuel efficiency. They are also easy to install and noise free, which makes them appropriate for homeowners and businesses.
The Connect generators feature Cummins QSJ2.4 engine, which ensures superior performance and dependability. Cummins has designed the generators in a manner that they can even function under extreme temperatures and at high altitudes. They can also withstand winds up to 150 mph.
In addition to the Connect generators, Cummins has also introduced the RA series 100A and 200A transfer switch and PowerCommand 500, the newest remote monitoring gadget used in residential and business applications. The QuietConnect and PowerConnect generators are equipped with both transfer switches and remote monitoring devices, which provide secure and dependable movement of power between sources.
Cummins is a leading worldwide designer, manufacturer and distributor of diesel and natural gas engines, electric power generation systems, and engine-related components, fuel systems, controls and air handling systems. Its products provide high quality, reliable backup power to a range of businesses including hospitals, data centers, airlines and grocery stores. Currently, CMI retains a Zacks Rank #3 (Hold).
Cummins posted net earnings of $362 million or $1.94 per share (excluding special items) in the third quarter of 2013, lagging the Zacks Consensus Estimate of $2.10 per share. However, earnings increased from $336 million or $1.78 per share in the comparable year-ago quarter.
Revenues in the quarter rose nearly 4% year over year to $4.3 billion, mainly driven by strong demand in North America. Revenues were in line with the Zacks Consensus Estimate.
Other stocks that are performing well in the industry include Denso Corp. (DNZOY), Tower International, Inc. (TOWR) and Gentex Corp. (GNTX). All three companies carry a Zacks Rank #1 (Strong Buy).