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Diamond Diesel Service, Inc., Auto Repair & Service - Diesel, Oakland, CA

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Back To Diesel Products>Diesel And Dollars: Cummins Revs Its Engines
Tom Reese and Paul Rubillo, Dividend.com, 07.27.10, 10:56 AM EDT

Engine and generator company posts a blowout quarter and looks tempting for the bold.

Engine and power generator maker Cummins ( CMI - news - people ) on Tuesday said its second quarter profit quadrupled from last year, easily beating analyst estimates, and the company boosted its full-year outlook.

The Columbus, In., company reported second quarter net income of $246 million, or $1.25 per share, compared with $56 million, or 28 cents per share, in the year-ago period. Revenue surged 32% from last year, to $3.21 billion. On average, Wall Street analysts expected a much smaller profit of 91 cents per share, on lower revenue of $2.84 billion.

Looking ahead, the company boosted its full-year guidance. It now expects 12% earnings before interest and taxes, on $13 billion revenue. Analysts currently expect $12.2 billion in sales for the year.

Cummins shares were up 3.3% in morning trading Tuesday.

The Bottom Line
Shares of CMI have a 1.35% dividend yield, based on last night's closing stock price of $77.85. The stock has technical support in the $70-$71 price area. The stock is trading at all-time highs and has little overhead resistance. We are carefully monitoring shares, and would consider this a name to watch for aggressive investors.

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