Cummins Inc. Q1 Profit Climbs, Beats estimates

(RTTNews) - Cummins Inc. (CMI) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $790 million, or $5.55 per share. This compares with $418 million, or $2.92 per share, in last year's first quarter.

Analysts on average had expected the company to earn $4.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.2% to $8.45 billion from $6.39 billion last year.

Cummins Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $790 Mln. vs. $418 Mln. last year. -EPS (Q1): $5.55 vs. $2.92 last year. -Analyst Estimate: $4.75 -Revenue (Q1): $8.45 Bln vs. $6.39 Bln last year.