Cummins falls after $2 bln hit on emission claims settlement

Cummins

22/12/2023 13:36

** Shares of engine maker Cummins  CMI.N  fall 3.80% to
$234.73 premarket
    ** Expects to take ~$2.04 bln charge in the Q4 as it reached
a regulatory settlement on emissions certification and
compliance for some pickup truck engines
    ** "The company has seen no evidence that anyone acted in
bad faith and does not admit wrongdoing" - Cummins
    ** $1.93 billion of the total payments is expected to be
made in the first half of next year
    ** YTD stock up 0.71%

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))