Cummins Inc. (NYSE:CMI) announced it is raising its 2030 financial targets for growth and profitability during a meeting with analysts and shareholders.
The company cited disciplined investment, execution of its strategy, stronger market positions and rising demand as reasons. Cummins is expanding capacity in mining and power generation markets.
Jennifer Rumsey, Chair and CEO, said: 'Over the past two years, Cummins has navigated significant complexity while continuing to execute with discipline and deliver record performance.'
Brett Merritt, Engine Business President, noted profitable growth will be driven by new product content, customer wins and a growing aftermarket.
The company reaffirmed its strategy for continued profitable growth and shareholder returns.
