1) Jim Kelly, President of Cummins Engine Business, presents at the JPMorgan Basics & Industrials Conference on June 12, 2007. He discusses Cummins' financial performance, growth strategies, and outlook.
2) Cummins has doubled revenue in 5 years, generated high profits, improved its balance sheet significantly, and outperformed its peer group. It is executing on strategic principles to drive continued profitable growth.
3) Cummins is well-positioned for future performance due to its technology leadership, customer relationships, investments in new opportunities, and global diversification across business segments and markets.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
cmi_070612_jpm
1. A New Cummins:
Sustainable Performance
Jim Kelly
President, Engine Business
JPMorgan Basics & Industrials Conference
June 12, 2007
2. Disclosure Regarding Forward-Looking Statements
& non-GAAP Financial Measures
This presentation contains certain forward-looking information.
Any forward-looking statement involves risk and uncertainty.
The Company’s future results may be affected by changes in general
economic conditions and by the actions of customers and competitors.
Actual outcomes may differ materially from what is expressed in any
forward-looking statement. A more complete disclosure about forward-
looking statements begins on page 61 of our 2006 Form 10-K, and it applies
to this presentation.
This presentation contains certain non-GAAP financial measures such as
earnings before interest and taxes (EBIT). Please refer to our website
(www.cummins.com) for the reconciliation of EBIT to GAAP financial
measures.
2
3. Creating Greater Shareholder Value
Doubled our revenue in 5 years
Highest period of net earnings as a percent of
sales in over 40 years
Generated $4.2 billion in EBITDA since 2003
Improved debt to capital from 60% in 2003 to 19%
today
Actively repurchased 3.2 million shares in 2 years
Exceeded both ROANA and ROE targets for over
three years
3
4. We Have Outperformed Our Peer
Group
Growing net income
137%
faster than revenue
CAGR Since 2003
Converting
75% more income
into cash
37%
22% 18%
13%
Revenue Net Income Operating Cash
Flow
CMI Peer Group Median 4
5. Confident in Our Ability to Perform in
2007 and Beyond
We are executing on our Strategic
Principles
Our customers recognize Cummins for our
technology leadership
We are investing in the next generation of
profitable growth opportunities
5
6. 2007 and Beyond –
Building on Our Strategic Principles
Complementary Businesses
Low Cost Producer
Create Shareholder Value
Profitable Growth
Create the Right Environment
6
7. Diversified Global Power Leader
Four Complementary Businesses
Engines Power Components Distribution
Generation
7
8. Low Cost Producer
Drive for Productivity
Manufacturing
Technical
Shared Services
Six Sigma
Global Sourcing
8
9. Building Stable Diversified Earnings
Base
Significant contributor to total EBIT
China Distribution
India Aftermarket
9
10. Our Customers Recognize Cummins
for Our Technology Leadership
Virtually integrating through OEM partnerships
Global technology leader in constantly
changing emissions environment
10
11. Virtually Integrating Through
OEM Partnerships
Low Cost
Strong Brand
Global Presence
Customer Support Excellence
Technology Leadership
11
12. Unique Technology Integration
Fuel Systems
Electronic Controls
Air Handling Systems
Filtration and Aftertreatment
Combustion Technologies
12
13. Profitable Growth – Engine Business
1.4
Light Duty Diesel in
1.2
Engine Production (Millions)
U.S. and China 1.0
13- and 11-liter 0.8
0.6
Engines in China
0.4
Market Share Gains 0.2
0.0
Midrange Engine 2006 Organic New 2010
Growth Platforms
Capacity
In 2010, 25% of our engine volume
will come from new engine platforms.
13
14. Profitable Growth – Power Generation
35% Global Generator Set Consumption (Total Output)
Pursuing market Approximate $7 Billion Annual Global Market
30%
leadership in Top 8 regions
92% of total
commercial 25%
Market Leader (# 1 or # 2)
generators 20%
Leader in some segments
Not a market leader
Expanding into 15%
adjacent consumer 10%
markets 5%
0%
North Western China Middle India Southeast Latin Africa All Others
America Europe East Asia America
14
15. Profitable Growth – Distribution
2011
2006
2001
$3.2B $5.4B $8B
Joint Venture Company Owned Independent
Revenues through our distribution channel are growing 10% CAGR.
In 2011, nearly 90% of revenue will flow through fully or partially
owned distributors.
15
16. Profitable Growth – Components
Evolving Global Emission Standards
Strategic advantage in Accelerates Market Growth for
Diesel Catalytic Exhaust
emissions compliance $6
Significant future $5
Global Market Size ($B)
growth in revenue and
$4
earnings
$3
Multiple new product
introductions $2
We have 30% of
Winning non-CMI the market today
$1
business
$0
2006 2010
16
17. Confident in Our Ability to Perform in
2007 and Beyond
We are executing on our Strategic
Principles
Our customers recognize Cummins for our
technology leadership
We are investing in the next generation of
profitable growth opportunities
17
20. Cummins Inc.
Q1 2007 LTM Revenue by Segment
Components
Q1 2007 – Great Quarter Segment 17%
Strong global demand Engine
for our product Segment 54%
Distribution
Year-over-year Segment 10%
growth in revenue
and earnings
Investing in profitable
growth opportunities
Power Gen
Segment 19%
Q1 2007 LTM Data
Sales: $11.5 billion
EBIT: $1,167 million 20
EBIT Margin: 10.1% (Target: 7-10%)
21. Cummins Inc.
Q1 2007 LTM Revenue by Marketing Territory
Africa/Middle East
International revenue Canada 5%
6%
is 51% of consolidated
revenue Mexico/Latin
America
International revenue 8%
was 54% in the first
quarter
United States
Most international 49%
areas growing at Asia/Australia
17%
double digit rate
Europe/CIS
15%
21
33. Non-GAAP Reconciliation – EBIT
Three Months Ended
Millions April 1, April 2, December 31,
2007 2006 2006
Segment EBIT $ 243 $ 255 $ 303
Less: Interest Expense $ 16 $ 27 $ 20
Earnings before income taxes and minority $ 227 $ 228 $ 283
interests
EBIT = Earnings before interest, taxes, and minority interests.
We use EBIT to assess and measure the performance of our operating segments and also as a component in measuring our
variable compensation programs. The table above reconciles EBIT, a non-GAAP financial measure, to our consolidated
earnings before income taxes and minority interests, for each of the applicable periods.
33
34. Non-GAAP Reconciliation – EBITDA
Three Months Ended
Millions April 1, April 2, December 31,
2007 2006 2006
Segment EBIT $ 243 $ 255 $ 303
Depreciation & Amortization $ 68 $ 74 $ 74
EBITDA $ 311 $ 329 $ 377
EBITDA = Earnings before interest, taxes, minority interests, depreciation, and amortization.
34
35. Non-GAAP Reconciliation – Cash From
Operations Excluding Pension Contributions
Three Months Ended
Millions April 1, 2007 April 2, 2006
Cash provided by operations $ (113) $ 18
Add back: pension contributions $ 61 $ 41
Cash provided by operations
$ (52) $ 59
excluding pension contributions
We believe cash provided by operations excluding pension contributions is a useful measure of our operating performance for
the periods presented as it illustrates our operating performance without regard to funding decisions. This measure is not in
accordance with, or an alternative for, GAAP and may not be consistent with measures used by other companies. It should
be considered supplemental data.
35
36. Non-GAAP Reconciliation – Net
Assets
April 1, April 2,
Millions
2007 2006
Net assets for operating segments $ 4,041 $ 3,609
Liabilities deducted in computing net assets 3,516 3,385
Minimum pension liability excluded from net assets - (837)
Pension and other postretirement liabilities (824) -
Deferred tax assets not allocated to segments 689 814
Debt-related costs not allocated to segments 26 26
Total assets $ 7,448 $ 6,997
36
37. Non-GAAP Reconciliation – Equity Used for
Return on Equity Calculation
April 1, April 2,
Millions
2007 2006
Equity used for return on equity calculation $ 3,480 $ 2,501
less Defined other postretirement benefits 5 -
less Defined benefit pension plans 538 -
less Minimum pension liability adjustment - 523
Total shareholder’s equity $ 2,937 $ 1,978
37