Cummins to take about $2.04 bln charge in fourth quarter (updated)

Cummins

22/12/2023 12:43

(Adds details from release throughout)
       Dec 22 (Reuters) - Truck engine maker Cummins  CMI.N 
said on Friday it expects to take nearly $2.04 billion in charge
in the fourth quarter as it reached an agreement to resolve
regulatory claims on its emissions certification and compliance
for certain engines.
    The company, which first disclosed a review in 2019, has
already recalled certain RAM trucks with its powertrains and has
previously accrued $59 million as estimated costs for executing
the recalls.    
    In its latest quarter, it had raised fiscal 2023 revenue
forecast on robust demand after its results beat market
expectations. 


 (Reporting by Nathan Gomes in Bengaluru; Editing by Arun
Koyyur)
 ((Nathan.Gomes@thomsonreuters.com;))