Cummins drops on weak Q2 profit

Cummins

03/08/2023 13:40

** Shares of engine maker Cummins  CMI.N  fall 3.8% to
$252.85 in premarket trading
    ** Co reports a second-quarter profit of $5.05 per share,
missing analysts' estimate of $5.29, according to Refinitiv
data.
    ** Cummins has been grappling with high manufacturing costs
globally and weak demand in China as new emission regulations
and inventory build up slow down recovery in the market
    ** YTD, stock rose 8.23%

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))