Cummins Enjoys Strong 2023, but Warns on Global Engine Demand

February 7, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--High global demand for its engine and power-system products, particularly from China, drove Cummins Incorporated (NYSE:CMI) (Columbus, Indiana) to record full-year revenues and operating cash flow in 2023, helped partly by its launch of a new business for zero-emission solutions and battery-cell production. But executives warn 2024 will see weaker demand for some of its engine products. Industrial Info is tracking about $4 billion worth of active and proposed projects from Cummins. Last spring, Cummins debuted its Accelera business, which develops zero-emissions solutions across multiple industries; later in the year, it partnered with Daimler Trucks & Buses, PACCAR (NASDAQ:PCAR) and EVE Energy to develop localized battery-cell production in the U.S., in an effort to improve the battery supply chain. Other companies featured: Faurecia SE