Cummins raises long-term financial targets

Members of the leadership team of Cummins, at a meeting with analysts and shareholders, shared the company’s plans to raise its long-term financial expectations, relative to its prior analyst day, and deliver increasing returns to shareholders, the company announced. Mark Smith, Chief Financial Officer, summarized the company’s plans for growth, margin expansion and capital allocation, stating: “We will continue to drive further improvement in our business as we expand margins in our base business and successfully scale our Accelera business. Cummins has a strong track record of raising performance cycle over cycle. As we drive further profitability, we aim to deliver higher operating cash flow, allowing us to continue to invest to further strengthen our leadership position in core markets and return excess cash to shareholders.” Jennifer Rumsey, Chair and Chief Executive Officer, said at the meeting: “Two years ago, we introduced Destination Zero as our winning growth strategy. This is proving to be the right strategy for our customers, for the environment and for the continued growth of Cummins. Since our last Analyst Day, we have continued to strengthen our position and execute on both our strategy and financial commitments. As a result, I’m excited to share we are raising our long-term financial expectations as we lead the transition.”