Cummins Inc (NYSE: CMI)

Cummins Inc. (CMI), a global power leader, operates in the powertrain industry, designing, manufacturing, distributing, and servicing diesel, natural gas, electric, and hybrid powertrains and powertrain-related components. The company's main business activities include the design, manufacture, and distribution of a wide range of products, such as axles, drivelines, brakes, and suspension systems for commercial diesel and natural gas applications, as well as engines, generators, and power systems for various industries.

Cummins Inc. operates in five complementary segments: Components, Engine, Distribution, Power Systems, and Accelera. The Components segment supplies products that complement the Engine and Power Systems segments, including axles, drivelines, brakes, and suspension systems for commercial diesel and natural gas applications. These components are used in various industries, including heavy-duty truck, medium-duty truck, and bus, as well as off-highway and industrial applications. The Engine segment manufactures and markets a broad range of diesel and natural gas-powered engines for the heavy-duty truck, medium-duty truck, and bus, light-duty automotive, and off-highway markets. The Distribution segment is the primary sales, service, and support channel for the company, with a worldwide network of wholly-owned, joint venture, and independent distribution locations. The Power Systems segment designs, manufactures, sells, and supports power generation systems, industrial engines, and generator technologies. The Accelera segment focuses on hydrogen production technologies and electrified power systems.

Cummins Inc. competes with several companies, including Caterpillar, Inc., MTU (Rolls Royce Power Systems Group), Kohler/SDMO (Kohler Group), INNIO, Generac, and Mitsubishi Heavy Industries, among others. The company has a diverse customer base, including truck manufacturers such as PACCAR, Traton, and Daimler, bus manufacturers such as Volvo, and power generation companies such as Siemens Energy.

The company has a significant presence in over 190 countries and territories, with operations in North America, Asia Pacific, Europe, China, Africa, and Latin America. Cummins Inc. has a controlling interest in Cummins India Ltd. (CIL), a publicly listed company on various stock exchanges in India. The company has a strong distribution network, with a presence in over 190 countries and territories.

In terms of financial performance, Cummins Inc. reported net sales of $24.1 billion in 2023, up from $22.4 billion in 2022. The company reported net income of $2.4 billion in 2023, up from $1.9 billion in 2022. The company's gross profit margin was 23.1% in 2023, up from 22.5% in 2022. The company's operating margin was 14.1% in 2023, up from 13.4% in 2022.

Cummins Inc. has a robust research and development program focused on product improvements, product extensions, innovations, and cost reductions for its customers. The company has a strong commitment to environmental sustainability, with a focus on reducing its environmental impact through the development of more efficient and environmentally friendly products.

Cummins Inc. has a diverse workforce of approximately 75,500 employees worldwide and has a strong focus on diversity, equity, and inclusion, with a commitment to fostering an inclusive culture that champions the strength of its diverse workforce. The company has a robust employee safety and wellness program, with a focus on creating a hazard-free workplace and promoting the health and well-being of its employees.

Cummins Inc.'s primary products and services include diesel and natural gas-powered engines, generators, power systems, axles, drivelines, brakes, and suspension systems for commercial vehicles. The company's brand names and/or trade names include Cummins, Onan, and Power Generation.