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Cummins: Q1 Earnings Snapshot

COLUMBUS, Ind. (AP) — COLUMBUS, Ind. (AP) — Cummins Inc. (CMI) on Tuesday reported first-quarter profit of $654 million.

On a per-share basis, the Columbus, Indiana-based company said it had net income of $4.71. Earnings, adjusted for non-recurring costs, were $6.15 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.60 per share.

The engine maker posted revenue of $8.4 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $8.32 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMI at https://www.zacks.com/ap/CMI

Nepal flood survivor’s family in China relieved after days of anxious waiting

HONG KONG (AP) — After days of waiting anxiously, Lu Haitao's family could finally breathe a sigh of relief when the Chinese man was rescued from a tunnel in Nepal where devastating floods killed more than 1,300 people. Rescuers carried out Lu from a 225-meter (740-foot) hydropower tunnel and evacuated him by helicopter Saturday, 10 days after the floods. He was taken to a hospital and was in stable condition, Chinese state broadcaster CCTV reported. The Aug. 26 floods were likely caused by a glacier collapse, and nearly 4,900 remain missing in the South Asian country, according to Nepal’s disaster management agency. Lu recalled climbing to the highest point inside the tunnel and thinking the whistles he heard from the rescue crews were in his imagination, according to audio shared by CCTV. He told a Chinese embassy staffer that the emergency personnel initially could not hear him when he shouted toward their lights.
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