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Cummins Inc. fiscal Q2 profit climbs 15.6% YOY

Cummins Inc. said its normalized net income for the fiscal second quarter ended June 28 amounted to $2.31 per share, compared with the S&P Capital IQ consensus estimate of $2.56 per share.

EPS rose 17.9% year over year from $1.96.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $415.0 million, an increase of 15.6% from $359.0 million in the prior-year period.

The normalized profit margin climbed to 8.3% from 7.4% in the year-earlier period.

Total revenue grew on an annual basis to $5.01 billion from $4.83 billion, and total operating expenses increased from the prior-year period to $4.39 billion from $4.33 billion.

Reported net income grew 5.7% from the prior-year period to $470.6 million, or $2.62 per share, from $445.2 million, or $2.43 per share.