Cummins Inc. said its fourth-quarter normalized net income came to $1.68 per share, compared with the S&P Capital IQ consensus estimate of $2.01 per share.
EPS declined 5.0% year over year from $1.77.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $282.0 million, a decrease of 9.2% from $310.5 million in the prior-year period.
The normalized profit margin fell to 6.3% from 6.5% in the year-earlier period.
Total revenue fell 5.5% year over year to $4.50 billion from $4.77 billion, and total operating expenses decreased year over year to $4.06 billion from $4.24 billion.
Reported net income rose 133.5% from the prior-year period to $377.1 million, or $2.24 per share, from $161.5 million, or 92 cents per share.
For the year, the company's normalized net income totaled $6.71 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $8.24.
EPS declined from $7.74 in the prior year.
Normalized net income was $1.14 billion, a decline from $1.38 billion in the prior year.
Full-year total revenue fell year over year to $17.51 billion from $19.11 billion, and total operating expenses declined year over year to $15.73 billion from $16.99 billion.
The company said reported net income totaled $1.39 billion, or $8.23 per share, in the full year, compared with $1.40 billion, or $7.84 per share, the prior year.