Cummins takes $100M hit from supply chain inflation; more of the same ahead — Panjiva
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Cummins takes $100M hit from supply chain inflation; more of the same ahead

Earnings 759 Industrials - Capital Goods 622 Mexico 928 Quote Watch 452 U.S. 5401

Cummins reported Q2’21 revenues which rose by 58.6% year over year thanks to a post-pandemic recovery in sales in North America. The firm’s supply chain activity recovered on a year over year basis though U.S. imports in Q2’21 were still 4.6% lower than the same period of 2019. The firm has cited “global supply chain tightness” as a challenge which has resulted in “$100 million of additional freight, labor and logistics costs” during the quarter. Cummins’ CFO, Mark Smith, expects those costs “to remain elevated” in the second...

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