Cummins Inc. (Cummins) designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, transmissions and electric power generation systems. Company sells its products to original equipment manufacturers (OEMs), distributors and other customers worldwide. Cummins serves its customers through a network of approximately 500 wholly-owned and independent distributor locations and over 7,500 dealer locations in more than 190 countries and territories.
Company operates through four business segments: Engine, Distribution, Components and Power Systems. Engine segment is engaged in manufacturing and marketing of a broad range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy- and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, construction, mining, marine, rail, oil and gas, defense and agricultural markets. Distribution segment includes 28 wholly-owned and 10 joint venture distributors that service and distribute the full range of its products and services to end-users at approximately 450 locations in over 90 distribution territories. Cummins’ Components segment supplies products which complement its Engine and Power Systems segments, including aftertreatment systems, turbochargers, transmissions, filtration products and fuel systems for commercial diesel applications. Power systems segment primarily offers three product lines such as power generation, industrial, and generator technologies.
For the fiscal year ended December 2017, company’s revenues increased $2.9 billion or 16.7% to $20.4 billion, as compared to the revenues in fiscal year 2016. This revenue growth was due to increase in sales from all business segments. In fiscal 2017, company’s engine segment sales increased 15% primarily due to higher demand in most North American on-highway markets; components segment sales increased 22% due to higher demand across all businesses, especially the emission solutions business; distribution segment sales increased 14% primarily due to an increase in organic sales and higher sales related to the acquisition; and power systems segment sales increased 15% due to higher demand in all product lines, especially in industrial markets.
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