Cummins Stock Edges Up on 2023 Forecast as Earnings Fall Short

The diesel-engine manufacturer

Cummins

offered investors an early look at 2023 and how inflation, China, and interest rates will affect industrial companies. There is a lot going on, but things are looking OK.

Monday morning,

Cummins

(ticker: CMI) reported earnings per share of $4.43 from sales of $7.8 billion, while Wall Street was looking for $4.52 a share from $7.3 billion in sales. In the fourth quarter of 2021, Cummins earned $2.85 a share from $5.9 billion in sales.