Cummins quarterly profit doubles on cost-cutting initiatives
CHICAGO, Feb 9 (Reuters) - Engine maker Cummins Inc on Thursday reported a higher quarterly net profit, as cost cuts offset the effects of lower North American commercial truck production and weak global demand for industrial engines and power generation equipment.
The Columbus, Indiana-based company reported net income of $378 million, or $2.25 per share in the fourth quarter through Dec. 31, more than double the $161 million, or 92 cents per share, earned a year earlier.
Excluding impairment and restructuring charges, earnings per share were $2.02. Analysts had on average expected earnings per share of $1.99.
(Reporting by Nick Carey; Editing by Bernadette Baum)
