CUMMINS, whose landmark Yarm Road factory in Darlington produces engines for a global market, has reported revenues of $6bn in a strong set of results

The third quarter revenues was an increase of 17 per cent from the same point last year. Sales in North America increased 13 percent while international revenues increased 22 percent driven by strong demand across all global markets outside of China.

“Demand remained strong in the third quarter as the global economy continued to improve, driving strong sales growth across most businesses and regions,” said Chairman and CEO Tom Linebarger.

“Economic trends such as order activity, freight rates, and used equipment prices remain robust across a number of our key end markets which points to strong demand extending into 2022 and beyond.

“Cummins is well positioned to benefit as these markets gain momentum as we continue to see orders for our products outpace our competition.”

But he warned that supply chain constraints “continue to impact our business as well as our customers’, resulting in rising material costs, elevated logistics expenses, and other manufacturing inefficiencies and capping revenue below our expectations three months ago.”

Cummins lowered its full year revenue guidance to be up approximately 20 percent, compared to prior guidance of up 20 to 24 percent.

Yesterday, the company was also named as one of the 45 inaugural recipients of the Terra Carta Seal, an initiative led by the United Kingdom’s Prince Charles to recognise businesses for their commitment to environmental sustainability and decarbonisation.

Read more: Cummins given £14.6m to develop hydrogen engine

The company had recently announced that it will bring to market a 15-litre natural gas engine for heavy-duty trucks as part of its strategy towards zero emissions.

The strategy focuses on new powertrains including advanced diesel, natural gas, hydrogen engines which are being developed in Darlington, hybrids, battery electric, and fuel cells, which will all help achieve Cummins’ PLANET 2050 environmental goals which include lowering emissions from newly sold products by 30% by 2030 and a goal of carbon neutrality by 2050.



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