Cummins Inc - Company Profile
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Business Description
Cummins Inc (Cummins) is a power technology company. It specializes in the design, production, and distribution of engines and components related to power trains, both in diesel and alternative fuel options. The company offers a wide range of products, including air handling systems, fuel systems, control systems, turbochargers, filtration systems, electric power generation systems, transmissions, batteries, hydrogen generation solutions, fuel cell products, and electrified power systems. Cummins operates its business through five segments: Engine, Distribution, Components, Power Systems and New Power.
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R&D Overview
The company's R&D efforts focuses on the development of new products to meet future emission standards across the world, development activities of fully electric, hybrid and hydrogen powertrain solutions and improvements in fuel economy performance of diesel and natural gas-powered engines and related components. It also focuses on focused on product extensions, product improvements, innovations and cost reductions. In FY2023, it spent US$1,500 million on R&D, which was 4.4% of its revenue and grew 17.4% YoY. ?
Business Segments
Overview
Provides aftertreatment systems, turbochargers, filtration products, transmissions, electronics and fuel systems for commercial diesel and natural gas applications. Manufactures filtration systems for on- and off-highway heavy-duty and medium-duty equipment. Supplies filtration products for industrial vehicle applications. In FY2023, the segment incurred a capital expenditure of US$373 million, which grew 41.3% YoY.
Performance
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Overview
It services and distributes the complete range of products and services, including parts, engines, power generation and service. Provides engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services. In FY2023, the segment incurred a capital expenditure of US$103 million, which declined 9.6% YoY.
Performance
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Overview
Manufactures and markets a wide range of diesel and natural gas engines. It serves customers in the heavy- and medium-duty truck, oil and gas, bus, light-duty automotive, construction, recreational vehicle, marine, rail, mining, defense and agricultural sectors. Product offerings: engines with a displacement range of 2.8 to 15 liters and horsepower ranging from 48 to 715; and new parts and service, and re-manufactured parts and engines. Brands: Cummins and certain customer brand names. In FY2023, the segment incurred a capital expenditure of US$538 million, which grew 46.2% YoY.
Performance
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Overview
Includes power generation, industrial and generator technologies product lines. Power generation product line designs, manufactures, sells and supports back-up and prime power generators ranging from 2 KW to 3.5 MW, controls, paralleling systems and transfer switches, for retail, commercial, industrial, data centers, health care, telecommunications and wastewater treatment plants and other applications. It provides turnkey solutions for distributed generation and energy management applications using diesel, natural gas or alternative sustainable fuel. Under industrial product line, it designs, manufactures, sells and supports diesel and natural gas high-horsepower engines up to 4,400 horsepower for equipment in the rail, mining, defense, oil and gas, and commercial marine applications. Under generator technologies product line, it designs, manufactures, sells and supports A/C generator/alternator products for internal consumption and for external generator set assemblers. Sells products under the Stamford, AVK and Newage brands and ranges in output from 7.5 kVA to 11,200 kVA. In FY2023, the segment incurred a capital expenditure of US$115 million, which grew 19.8% YoY.
Performance
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Overview
Designs, manufactures, sells and support for hydrogen production technologies along with electrified power systems with subsystems such as battery, fuel cell and electric powertrain technologies. In FY2023, the segment incurred a capital expenditure of US$84 million, which grew 13.5% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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