Tim Solso, Chairman and CEO of Cummins, presented at Citigroup's 19th Annual Global Industrial Manufacturing Conference. Over the past several years, Cummins has delivered on its financial commitments, growing revenue significantly above targets and improving margins and returns. Moving forward, Cummins aims to further increase profitability, reduce debt, invest in growth opportunities, and deliver shareholder value through dividends and share repurchases. Cummins is well positioned for future success, especially in emerging markets like China and India, despite challenges like emissions regulations.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth areas, and create shareholder value. Cummins is well positioned for future growth in emerging markets like China and India. The presentation also discusses strategies for heavy duty engines, components and distribution businesses, and preparations for 2007 emissions regulations.
In this earnings call, Oshkosh Truck Corporation discusses its first quarter 2007 results. Sales increased 27.4% to $1.01 billion due to the acquisition of JLG Industries. Operating income decreased 3.9% to $83.6 million and EPS decreased 23.6% to $0.55. The company increased its full-year 2007 EPS estimate range to $3.15 to $3.25 per share. JLG is meeting expectations and integration is progressing well. Defense sales were lower compared to strong prior year results while fire and emergency and commercial saw strong performance.
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, discussed the company's strong third quarter fiscal year 2006 results and provided an outlook for fiscal years 2006 and 2007. Some highlights included record sales and operating income for Q3 2006. The company also announced two acquisitions, AK Specialty Vehicles and Iowa Mold Tooling, expected to be accretive to earnings in fiscal 2007. For fiscal 2006, Oshkosh estimates sales growth of 14.9-16.6% and EPS growth of 24-26%. Fiscal 2007 estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15.
Robert Bohn, Chairman of Oshkosh Truck Corporation, discussed the company's strong fiscal 2006 financial results and outlook for fiscal 2007. Key points include:
1) Fiscal 2006 sales increased 15.8% and operating income grew 22%, with EPS up 26.6%.
2) The acquisition of JLG Industries was announced, which will diversify the company and support growth of over 15%.
3) Fiscal 2007 stand-alone estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15, with the JLG acquisition expected to be modestly accretive.
1) Oshkosh reported record second quarter fiscal year 2006 results with sales up 25.6% and operating income up 27.3% driven by strong performance in the defense segment.
2) The defense segment results nearly doubled compared to the previous year due to growth in remanufactured and new truck sales, however challenges remain in locating used vehicle carcasses for remanufacturing.
3) The fire and emergency segment saw a temporary dip in earnings as anticipated due to heavily weighted airport product sales in the second half of the year and two component issues that delayed revenue recognition.
The document provides an overview of Cummins Inc.'s management team and financial performance. It introduces the executive committee and lists the vice presidents of various business divisions. It then summarizes Cummins' financial targets for metrics like revenue growth, EBIT margin, capital expenditures, and debt-to-capital ratio. Several charts show how the company has delivered on these targets and improved its stock price, margins, earnings, and return on equity over time.
This document summarizes an earnings conference call for Oshkosh Truck Corporation for the second quarter of fiscal year 2007. Sales increased 96.6% to $1.66 billion and operating income grew 69.1% to $134.8 million. For fiscal year 2007, the company estimates sales of $6.1-6.2 billion and operating income of $568-580 million. It also provides segment-level results and highlights for access equipment, defense, fire & emergency, and commercial.
The document summarizes Oshkosh Truck Corporation's fourth quarter fiscal 2007 earnings conference call. It discusses record sales and operating income for fiscal 2007. Projections are provided for fiscal 2008, estimating sales between $7.1-7.3 billion and operating income between $690-715 million. Segment performances are reviewed, with access equipment and defense highlighted as key growth drivers. Estimates are also given for interest expense, tax rates, capital expenditures and debt levels for fiscal 2008.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth areas, and create shareholder value. Cummins is well positioned for future growth in emerging markets like China and India. The presentation also discusses strategies for heavy duty engines, components and distribution businesses, and preparations for 2007 emissions regulations.
In this earnings call, Oshkosh Truck Corporation discusses its first quarter 2007 results. Sales increased 27.4% to $1.01 billion due to the acquisition of JLG Industries. Operating income decreased 3.9% to $83.6 million and EPS decreased 23.6% to $0.55. The company increased its full-year 2007 EPS estimate range to $3.15 to $3.25 per share. JLG is meeting expectations and integration is progressing well. Defense sales were lower compared to strong prior year results while fire and emergency and commercial saw strong performance.
Robert G. Bohn, Chairman, President and CEO of Oshkosh Truck Corporation, discussed the company's strong third quarter fiscal year 2006 results and provided an outlook for fiscal years 2006 and 2007. Some highlights included record sales and operating income for Q3 2006. The company also announced two acquisitions, AK Specialty Vehicles and Iowa Mold Tooling, expected to be accretive to earnings in fiscal 2007. For fiscal 2006, Oshkosh estimates sales growth of 14.9-16.6% and EPS growth of 24-26%. Fiscal 2007 estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15.
Robert Bohn, Chairman of Oshkosh Truck Corporation, discussed the company's strong fiscal 2006 financial results and outlook for fiscal 2007. Key points include:
1) Fiscal 2006 sales increased 15.8% and operating income grew 22%, with EPS up 26.6%.
2) The acquisition of JLG Industries was announced, which will diversify the company and support growth of over 15%.
3) Fiscal 2007 stand-alone estimates include sales of $3.65-$3.75 billion and EPS of $3.05-$3.15, with the JLG acquisition expected to be modestly accretive.
1) Oshkosh reported record second quarter fiscal year 2006 results with sales up 25.6% and operating income up 27.3% driven by strong performance in the defense segment.
2) The defense segment results nearly doubled compared to the previous year due to growth in remanufactured and new truck sales, however challenges remain in locating used vehicle carcasses for remanufacturing.
3) The fire and emergency segment saw a temporary dip in earnings as anticipated due to heavily weighted airport product sales in the second half of the year and two component issues that delayed revenue recognition.
The document provides an overview of Cummins Inc.'s management team and financial performance. It introduces the executive committee and lists the vice presidents of various business divisions. It then summarizes Cummins' financial targets for metrics like revenue growth, EBIT margin, capital expenditures, and debt-to-capital ratio. Several charts show how the company has delivered on these targets and improved its stock price, margins, earnings, and return on equity over time.
This document summarizes an earnings conference call for Oshkosh Truck Corporation for the second quarter of fiscal year 2007. Sales increased 96.6% to $1.66 billion and operating income grew 69.1% to $134.8 million. For fiscal year 2007, the company estimates sales of $6.1-6.2 billion and operating income of $568-580 million. It also provides segment-level results and highlights for access equipment, defense, fire & emergency, and commercial.
The document summarizes Oshkosh Truck Corporation's fourth quarter fiscal 2007 earnings conference call. It discusses record sales and operating income for fiscal 2007. Projections are provided for fiscal 2008, estimating sales between $7.1-7.3 billion and operating income between $690-715 million. Segment performances are reviewed, with access equipment and defense highlighted as key growth drivers. Estimates are also given for interest expense, tax rates, capital expenditures and debt levels for fiscal 2008.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
Arrow Electronics is a major global provider of electronic components and computer products. In 2003, Arrow's sales grew to $8.7 billion, outgrowing the industry recovery rate. Operating income also increased and exceeded sales growth. Arrow has over 200 locations worldwide, serving over 600 suppliers and 150,000 customers. Key financial highlights include continuing growth in sales, operating income, and shareholders' equity from 2001 to 2003.
1) Oshkosh reported strong third quarter 2007 results with sales increasing 108% to $1.85 billion and operating income up 133% to $192.7 million.
2) Access equipment and defense led the growth in sales and operating income. The acquisition of JLG was accretive to EPS by $0.35 per share.
3) For fiscal year 2007, Oshkosh estimates sales between $6.3-6.35 billion and EPS between $3.35-3.40, and for fiscal year 2008 estimates sales between $7-7.2 billion and EPS between $4.15-4.35.
Highlights of the fourth quarter of 2009. Net sales amounted to SEK 28,215m (28,663) and income for the period was SEK 664m (-474), or SEK 2.34 (-1.68) per share. Net sales declined by 1% in comparable currencies, due to continued weak markets.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
Highlights of the fourth quarter of 2010. Net sales amounted to SEK 27,556m (28,215) and income for the period was SEK 677m (664), or SEK 2.38 (2.34) per share. Net sales increased by 1.6% in comparable currencies.
Patrick D. Campbell Senior Vice President and Chief Financial Officerfinance10
3M aims to accelerate growth to enhance shareholder value. The presentation outlines plans to achieve 5-8% organic local currency growth in traditional businesses through leveraging existing assets, pursue international expansion, and continue productivity initiatives. It also discusses growing new market adjacencies at a faster pace through acquisitions and new brands. Maintaining strong margins and returns on invested capital as growth increases is a key focus.
Highlights of the second quarter of 2009. Net sales amounted to SEK 27,482m (25,587) and income for the period to SEK 658m (99), or SEK 2.32 (0.36) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Highlights of the second quarter of 2010. Net sales amounted to SEK 27,311m (27,482) and income for the period was SEK 1,028m (658), or SEK 3.61 (2.32) per share. Net sales increased by 2.8% in comparable currencies, due to higher sales volumes.
oe E. Harlan Executive Vice President, Electro and Communications Businessfinance10
The document summarizes an investor meeting presentation about 3M's Electro & Communications Business (ECB). It highlights that ECB has maintained strong growth and margins in recent years. Going forward, ECB is positioned for continued growth by leveraging its market-focused customer-centric approach, differentiated technologies, international expansion, adjacent markets, service differentiation, and competitive culture. ECB serves the electrical, communications, and electronics industries with products like tapes, films, adhesives, and interconnect solutions.
Electrolux Consolidated results 2011 presentationElectrolux Group
Highlights of the fourth quarter of 2011. Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share. Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentationfinance8
Dave Anderson, Senior VP and CFO of Honeywell, presented at the Gabelli Asset Management Aircraft Supplier Conference on September 7, 2006. Honeywell has built a strong track record through 5-10% organic sales growth, margin expansion, double digit EPS growth, and 100% cash conversion. Its portfolio includes Aerospace (35% of sales), Automation and Control (35%), Transportation (15%), and Specialty Materials (15%). Honeywell is on track for record performance in 2006 and is well positioned for long term growth across its segments.
6 Prudential's "Inside Our Best Ideas" Conferencefinance10
This document discusses 3M's strategy for growth through customer value enhancement and operational excellence. It summarizes 3M's historical financial performance, showing increasing margins, earnings per share, and return on invested capital. 3M's strategy focuses on growing its core businesses, pursuing complementary acquisitions, expanding into adjacencies, and international growth. 3M aims to drive growth and share gains by enhancing customer competitiveness, business returns, and brand value.
- EBIT declined to SEK 1,098m due to weak demand, price pressure, and higher costs for raw materials and sourced products.
- Solid results were reported for Professional Products and Latin America. The acquisitions of Olympic Group and CTI were completed.
- Going forward, Electrolux aims to restore results by increasing prices, adapting cost structures, and implementing global operations.
Investor Relations Press Release July 2010Semalytix
The document summarizes HCL Technologies' annual results for fiscal year 2009-2010. Some key highlights include:
- Annual revenues were Rs. 12,565 Cr, up 18.6% year-over-year. Net income was Rs. 1,303 Cr.
- Q4 revenues were Rs. 3,425 Cr, up 11.4% quarter-over-quarter and 17.8% year-over-year. Net income was Rs. 342 Cr.
- Revenue growth was seen across geographies, service lines, and industry verticals for the year.
Highlights of the first quarter of 2010. Net sales amounted to SEK 25,133m (25,818) and income for the period was SEK 911m (-346), or SEK 3.20 (-1.22) per share. Net sales increased by 4.1% in comparable currencies, due to higher sales volumes.
Highlights of the first quarter of 2012. Net sales amounted to SEK 25,875m (23,436) and income for the period was SEK 559m (457), or SEK 1.96 (1.61) per share. Net sales improved by 10.4%, of which 3.5% was organic growth. The acquisitions of CTI and Olympic Group impacted sales by 5.8%.
This presentation provides an overview of Cummins Inc.'s performance and strategy. It discusses how Cummins has doubled revenue in 5 years, generated strong earnings and cash flow, and improved its debt ratio. The presentation outlines Cummins' strategic principles of diversifying markets and products to reduce cyclicality, pursuing low cost leadership, and investing in profitable growth opportunities. It highlights Cummins' technology leadership and growing markets in areas like power generation and emerging economies.
This document is an investor presentation by Cummins that provides an overview of the company's business segments and financial performance. It summarizes that Cummins has diversified its business across engine, power generation, components and distribution segments. It has grown faster than peers since 2003, with net income growing 134% compared to 21% revenue growth. Cummins has also increased its international sales and reduced reliance on the North American heavy duty truck market.
Duke Energy reported its year-end and fourth quarter 2005 financial results. Key highlights include:
- 2005 ongoing basic EPS of $1.79, up from $1.51 in 2004. Reported basic EPS was $1.94.
- Fourth quarter 2005 ongoing basic EPS of $0.43, up from $0.29 in fourth quarter 2004. Reported basic EPS was $0.65.
- All major business units performed well driven by higher commodity prices and real estate operations. The company exceeded its 2005 earnings target and set a 2006 target of $1.90 per diluted share, a 10% increase.
Este documento es un resumen estadístico consolidado de Duke Energy Corporation para el año 2003. Contiene información financiera clave de Duke Energy y sus segmentos de negocio, incluidos ingresos operativos, gastos operativos, ganancias antes de intereses e impuestos trimestrales y anuales. También incluye estados financieros consolidados, incluidos el estado de operaciones, el balance general y el flujo de efectivo. Proporciona métricas operativas clave para cada uno de los segmentos de negocio de Duke Energy.
This document provides consolidated financial information for Duke Energy Corporation for the years 2004-2001, including:
- Earnings before interest and taxes from continuing operations by business segment, showing quarterly and annual EBIT figures for each segment.
- A consolidating statement of operations for 2004, showing operating revenues and expenses by segment. Total operating revenues were $22.5 billion.
- Common stock data such as earnings per share from continuing/discontinued operations, shares outstanding, dividends paid, and book value per share for each year.
The document contains consolidated financial highlights and quarterly/annual segment data to provide an overview of Duke Energy's performance and operations.
Oshkosh Corporation held an earnings conference call to discuss its first quarter fiscal year 2008 results. Sales increased 49% to $1.5 billion due to strong growth in access equipment and defense, while earnings per share declined 9.1% to $0.50. For fiscal year 2008, the company estimates revenue of $7.1-7.3 billion, operating income of $675-700 million, and earnings per share of $4.15-4.35. Challenging economic conditions are impacting commercial and fire & emergency segments, but global initiatives and cost reductions will support the full-year outlook.
Arrow Electronics is a major global provider of electronic components and computer products. In 2003, Arrow's sales grew to $8.7 billion, outgrowing the industry recovery rate. Operating income also increased and exceeded sales growth. Arrow has over 200 locations worldwide, serving over 600 suppliers and 150,000 customers. Key financial highlights include continuing growth in sales, operating income, and shareholders' equity from 2001 to 2003.
1) Oshkosh reported strong third quarter 2007 results with sales increasing 108% to $1.85 billion and operating income up 133% to $192.7 million.
2) Access equipment and defense led the growth in sales and operating income. The acquisition of JLG was accretive to EPS by $0.35 per share.
3) For fiscal year 2007, Oshkosh estimates sales between $6.3-6.35 billion and EPS between $3.35-3.40, and for fiscal year 2008 estimates sales between $7-7.2 billion and EPS between $4.15-4.35.
Highlights of the fourth quarter of 2009. Net sales amounted to SEK 28,215m (28,663) and income for the period was SEK 664m (-474), or SEK 2.34 (-1.68) per share. Net sales declined by 1% in comparable currencies, due to continued weak markets.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
Highlights of the fourth quarter of 2010. Net sales amounted to SEK 27,556m (28,215) and income for the period was SEK 677m (664), or SEK 2.38 (2.34) per share. Net sales increased by 1.6% in comparable currencies.
Patrick D. Campbell Senior Vice President and Chief Financial Officerfinance10
3M aims to accelerate growth to enhance shareholder value. The presentation outlines plans to achieve 5-8% organic local currency growth in traditional businesses through leveraging existing assets, pursue international expansion, and continue productivity initiatives. It also discusses growing new market adjacencies at a faster pace through acquisitions and new brands. Maintaining strong margins and returns on invested capital as growth increases is a key focus.
Highlights of the second quarter of 2009. Net sales amounted to SEK 27,482m (25,587) and income for the period to SEK 658m (99), or SEK 2.32 (0.36) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Highlights of the second quarter of 2010. Net sales amounted to SEK 27,311m (27,482) and income for the period was SEK 1,028m (658), or SEK 3.61 (2.32) per share. Net sales increased by 2.8% in comparable currencies, due to higher sales volumes.
oe E. Harlan Executive Vice President, Electro and Communications Businessfinance10
The document summarizes an investor meeting presentation about 3M's Electro & Communications Business (ECB). It highlights that ECB has maintained strong growth and margins in recent years. Going forward, ECB is positioned for continued growth by leveraging its market-focused customer-centric approach, differentiated technologies, international expansion, adjacent markets, service differentiation, and competitive culture. ECB serves the electrical, communications, and electronics industries with products like tapes, films, adhesives, and interconnect solutions.
Electrolux Consolidated results 2011 presentationElectrolux Group
Highlights of the fourth quarter of 2011. Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share. Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentationfinance8
Dave Anderson, Senior VP and CFO of Honeywell, presented at the Gabelli Asset Management Aircraft Supplier Conference on September 7, 2006. Honeywell has built a strong track record through 5-10% organic sales growth, margin expansion, double digit EPS growth, and 100% cash conversion. Its portfolio includes Aerospace (35% of sales), Automation and Control (35%), Transportation (15%), and Specialty Materials (15%). Honeywell is on track for record performance in 2006 and is well positioned for long term growth across its segments.
6 Prudential's "Inside Our Best Ideas" Conferencefinance10
This document discusses 3M's strategy for growth through customer value enhancement and operational excellence. It summarizes 3M's historical financial performance, showing increasing margins, earnings per share, and return on invested capital. 3M's strategy focuses on growing its core businesses, pursuing complementary acquisitions, expanding into adjacencies, and international growth. 3M aims to drive growth and share gains by enhancing customer competitiveness, business returns, and brand value.
- EBIT declined to SEK 1,098m due to weak demand, price pressure, and higher costs for raw materials and sourced products.
- Solid results were reported for Professional Products and Latin America. The acquisitions of Olympic Group and CTI were completed.
- Going forward, Electrolux aims to restore results by increasing prices, adapting cost structures, and implementing global operations.
Investor Relations Press Release July 2010Semalytix
The document summarizes HCL Technologies' annual results for fiscal year 2009-2010. Some key highlights include:
- Annual revenues were Rs. 12,565 Cr, up 18.6% year-over-year. Net income was Rs. 1,303 Cr.
- Q4 revenues were Rs. 3,425 Cr, up 11.4% quarter-over-quarter and 17.8% year-over-year. Net income was Rs. 342 Cr.
- Revenue growth was seen across geographies, service lines, and industry verticals for the year.
Highlights of the first quarter of 2010. Net sales amounted to SEK 25,133m (25,818) and income for the period was SEK 911m (-346), or SEK 3.20 (-1.22) per share. Net sales increased by 4.1% in comparable currencies, due to higher sales volumes.
Highlights of the first quarter of 2012. Net sales amounted to SEK 25,875m (23,436) and income for the period was SEK 559m (457), or SEK 1.96 (1.61) per share. Net sales improved by 10.4%, of which 3.5% was organic growth. The acquisitions of CTI and Olympic Group impacted sales by 5.8%.
This presentation provides an overview of Cummins Inc.'s performance and strategy. It discusses how Cummins has doubled revenue in 5 years, generated strong earnings and cash flow, and improved its debt ratio. The presentation outlines Cummins' strategic principles of diversifying markets and products to reduce cyclicality, pursuing low cost leadership, and investing in profitable growth opportunities. It highlights Cummins' technology leadership and growing markets in areas like power generation and emerging economies.
This document is an investor presentation by Cummins that provides an overview of the company's business segments and financial performance. It summarizes that Cummins has diversified its business across engine, power generation, components and distribution segments. It has grown faster than peers since 2003, with net income growing 134% compared to 21% revenue growth. Cummins has also increased its international sales and reduced reliance on the North American heavy duty truck market.
Duke Energy reported its year-end and fourth quarter 2005 financial results. Key highlights include:
- 2005 ongoing basic EPS of $1.79, up from $1.51 in 2004. Reported basic EPS was $1.94.
- Fourth quarter 2005 ongoing basic EPS of $0.43, up from $0.29 in fourth quarter 2004. Reported basic EPS was $0.65.
- All major business units performed well driven by higher commodity prices and real estate operations. The company exceeded its 2005 earnings target and set a 2006 target of $1.90 per diluted share, a 10% increase.
Este documento es un resumen estadístico consolidado de Duke Energy Corporation para el año 2003. Contiene información financiera clave de Duke Energy y sus segmentos de negocio, incluidos ingresos operativos, gastos operativos, ganancias antes de intereses e impuestos trimestrales y anuales. También incluye estados financieros consolidados, incluidos el estado de operaciones, el balance general y el flujo de efectivo. Proporciona métricas operativas clave para cada uno de los segmentos de negocio de Duke Energy.
This document provides consolidated financial information for Duke Energy Corporation for the years 2004-2001, including:
- Earnings before interest and taxes from continuing operations by business segment, showing quarterly and annual EBIT figures for each segment.
- A consolidating statement of operations for 2004, showing operating revenues and expenses by segment. Total operating revenues were $22.5 billion.
- Common stock data such as earnings per share from continuing/discontinued operations, shares outstanding, dividends paid, and book value per share for each year.
The document contains consolidated financial highlights and quarterly/annual segment data to provide an overview of Duke Energy's performance and operations.
ConAgra Foods is selling its chicken business to focus on branded and value-added food items. The sale includes chicken processing operations and will generate cash for ConAgra to reinvest. ConAgra will receive Class A shares in Pilgrim's Pride, the chicken company acquiring its business, representing 7% of voting shares and 49% of equity. It can sell up to 1/3 of these shares annually but expects to reduce ownership over time based on market conditions. ConAgra will also receive notes from Pilgrim's Pride due in 2011 with a 10.5% interest rate to be paid semi-annually.
This document summarizes the Q1 FY2004 earnings results of a large packaged foods company. Key points include:
- Q1 EPS was $0.37 compared to $0.43 in Q1 FY2003, impacted by various one-time gains and losses.
- Packaged foods sales were down $168M excluding divested businesses, with a 5% volume decline.
- Several major brands saw growth, while others like Butterball declined.
- Corporate expenses increased due to litigation expenses from a past joint venture.
- The effective tax rate for FY2004 is estimated at 38%.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth, and create shareholder value. Key markets like North America heavy-duty trucks and emerging markets are growing significantly. Cummins is well-positioned for future emissions regulations and global trends.
This document is an investor presentation by Cummins that provides an overview of the company's business segments and financial performance. It summarizes that Cummins has diversified its business across engine, power generation, components and distribution segments. It has grown faster than its peer group since 2003 with higher net income and cash flow. Cummins is also more global now with over 50% of revenue from outside the US. The presentation provides details on each business segment and their growth strategies.
This document introduces Cummins' management team and provides an overview of the company's strategy and financial performance. It outlines goals such as revenue growth of 8-10% annually, an EBIT margin of 6-9%, and keeping capital expenditures below depreciation and amortization. Charts show strong growth in sales, stock price outperformance, and profitability of joint ventures. The summary emphasizes Cummins' focus on creating shareholder value through earnings growth, cash management, and reducing cyclicality in its business.
The document provides an overview of Emerson's strategic imperatives and actions to strengthen its business platforms, pursue technology leadership, globalize assets, and drive business efficiency. It discusses operating performance targets, regional sales and employment figures, and initiatives to improve supply chain management through digitization and optimized transportation programs.
Dover Corporation reported first quarter 2008 financial results with revenue increasing 8% year-over-year to $1.9 billion and EPS growth of 16% to $0.76. Business activity remained strong across segments with organic growth of 2.8% and acquisition growth contributing an additional 1.8% to revenue. Free cash flow was $104 million, significantly higher than the prior year. For the full year, the company expects organic revenue growth in the mid-single digits with margin improvement of 50-75 basis points and $312 million remaining for share repurchases.
Dover Corporation reported first quarter 2008 results with revenue increasing 8% year-over-year to $1.9 billion driven by organic growth of 2.8% and acquisition growth of 1.8%. Earnings per share increased 16% to $0.76 per share and free cash flow was $104 million, up significantly from the prior year. Business activity remained strong across Dover's portfolio of industrial businesses although some segments faced tougher prior year comparisons and challenges in certain US markets.
Dover Corporation reported first quarter 2008 financial results with revenue increasing 8% year-over-year to $1.9 billion and EPS growth of 16% to $0.76. Business activity remained strong across segments with organic growth of 2.8% and acquisition growth contributing an additional 1.8% to revenue. Free cash flow was $104 million, significantly higher than the prior year. For the full year, the company expects organic revenue growth in the mid-single digits with margin improvement of 50-75 basis points and $312 million remaining for share repurchases.
The document is an investor presentation by Cummins discussing the company's performance and strategy. It summarizes that Cummins has doubled revenue in 5 years, generated strong earnings growth and cash flow, and improved its debt ratio. It also outlines Cummins' strategic principles of diversifying its end markets and businesses to reduce cyclicality, pursuing low cost leadership, and investing in profitable growth opportunities through new products and markets.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial Services U...finance8
This document is the transcript from a fixed income investor presentation given by Sanjiv Khattri, Executive Vice President and Chief Financial Officer of GMAC. The presentation summarizes GMAC's financial performance in Q2 2007, including details on results from their auto finance, insurance, and Residential Capital (ResCap) business segments. It provides key metrics on ResCap's mortgage portfolios and credit quality, noting continued challenges from the weak US housing market.
This document summarizes the Individual Business segment of a company for 2008 results and the 2009 plan. It highlights that earnings declined significantly in 2008 but are projected to increase in 2009. Key priorities for 2009 include leveraging the company's strong market position, maintaining expense controls, adjusting prices for market volatility, and increasing distribution efficiency. The business focuses on annuities and life insurance products distributed through affiliated and third party channels.
Robert Bohn and David Sagehorn of Oshkosh Corporation gave a presentation at the Goldman Sachs Conference in November 2008. They discussed Oshkosh's strong financial position and actions taken to reduce costs and debt. While market conditions were volatile due to the economic downturn, Oshkosh was well positioned with backlogs in defense, fire, and refuse collection vehicles. The presentation outlined Oshkosh's segments and strategies to manage through the difficult economy.
1) Credit Suisse is presenting at its 2008 Annual Technology Conference and provides a safe harbor statement regarding forward-looking statements in the presentation.
2) Arrow Electronics touches all geographies, technologies, and end markets, connecting key players in unique and value-enhancing ways. It aims to grow faster than the market through operational excellence and financial stability.
3) Arrow is well positioned to weather an economic downturn due to changes made since the last tech sector downturn, including a stronger balance sheet with lower debt and higher liquidity than 10 years ago.
- Cummins has doubled revenue over the past 5 years and achieved the highest 3-year period of net earnings as a percent of sales in over 40 years.
- The company has diversified globally and by end markets to reduce cyclicality, aggressively pursued low cost leadership, and built greater earnings stability.
- Cummins is investing in new engine platforms and technologies to capitalize on growth opportunities from evolving global emission standards.
- Cummins has doubled revenue over the past 5 years and achieved the highest 3-year period of net earnings as a percent of sales in over 40 years.
- The company has diversified globally and by end markets to reduce cyclicality, aggressively pursued low cost leadership, and built greater earnings stability.
- Cummins is investing in new engine platforms and technologies to capitalize on growth opportunities from evolving global emission standards.
- Dana Holding Corporation held an earnings conference call to discuss financial results for the third quarter of 2008
- Net sales for Q3 2008 were $1.929 billion, down from $2.130 billion in Q3 2007, due to lower production volumes in North America and higher steel costs
- The company reported a net loss of $271 million for Q3 2008 compared to a net loss of $69 million for Q3 2007
- Dana plans further restructuring actions in 2009-2010, including closing up to 10 plants and reducing its workforce by an additional 2,000-3,000 employees
The document discusses the 2008 results and 2009 plan for an institutional business. Some key points include:
- Excellent top-line growth and solid core earnings were achieved in 2008.
- Premiums, fees and other revenues are projected to increase from $16.5-$16.7 billion in 2008 to $17.3-$17.7 billion in 2009. However, operating earnings are expected to decline slightly to $1.6-$1.66 billion due to lower investment income and expense management.
- The business will focus on maintaining fundamentals, investing in growth opportunities, aggressively managing expenses, and communicating their value proposition in 2009.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
The document summarizes Oshkosh Corporation's earnings conference call for the second quarter of fiscal year 2008. Key highlights include sales increasing 6.7% to $1.8 billion and operating income rising 24.8% to $168.2 million. EPS grew 42.6% to $0.97. While access equipment and defense saw strong demand, commercial and fire & emergency faced challenging market conditions. The company maintained its fiscal year 2008 EPS estimate range of $4.15 to $4.35.
- Iron Mountain reported Q1/2009 revenue of $723 million, down 3% from the previous year due to foreign exchange rate fluctuations and weakness in complementary services, despite 4% internal growth in core revenue.
- Operating income before depreciation and amortization (OIBDA) increased 12% to $197 million due to disciplined cost controls and profit gains.
- Free cash flow before acquisitions and investments was $57 million, an improvement from -$20 million in the previous year.
- Iron Mountain raised its full-year 2009 OIBDA guidance while lowering expected capital expenditures to approximately $380 million.
This document summarizes PPG Industries' first quarter 2007 financial results. It discusses strong sales growth in most business segments, particularly Performance & Applied Coatings which grew 26% due to acquisitions. Commodity Chemicals sales declined 7% due to lower prices. The summary also notes key economic indicators and how PPG uses cash, such as funding businesses, dividends, debt repayment, acquisitions and stock repurchases.
Similar to Cummins_Citigroup_Industrial_Conference0306 (20)
ConAgra Foods is selling its United Agri Products business to focus on branded and value-added products, as part of a broader strategy of divesting non-core businesses over the past year including fresh beef/pork, canned seafood, and cheese operations. The sale is expected to close by December 31, 2003 for cash and $60-75 million in preferred stock. ConAgra will retain some international UAP operations generating $250 million in annual sales, concentrated in several countries. Proceeds will be used for debt paydown and general corporate purposes including acquisitions and stock buybacks.
ConAgra Foods divested its poultry business to focus on branded, value-added foods with strong margins and growth. The $300 million cash and 25 million Pilgrim's Pride shares valued at $245 million totaled less than the poultry business' estimated $545 million book value due to the shares being valued based on past prices, not current prices. ConAgra Foods can sell up to 1/3 of the shares each year and account for shares eligible for resale within a year as securities, and other shares using cost accounting. The poultry business was previously reported in Meat Processing but is now in Discontinued Operations.
ConAgra Foods completed the divestiture of its chicken processing and crop inputs businesses, finalizing its strategy to focus on branded, value-added food opportunities. The company received $300 million in cash and 25 million shares of Pilgrim's Pride stock worth $245 million for the chicken business. ConAgra can sell up to 1/3 of the Pilgrim's Pride shares per year and will account for the shares as securities held for resale within one year or using the cost method if the eligibility for resale is over one year away. The chicken business was previously reported as part of ConAgra's Meat Processing segment but is now in Discontinued Operations.
ConAgra Foods has divested several commodity businesses and acquired branded and value-added food products to focus on higher margin businesses. The company is planning a share repurchase program using cash from strong operating cash flows and recent divestitures. ConAgra expects to continue investing in growth through acquisitions and paying down debt while deploying cash to dividends, debt repayment, and share repurchases as appropriate.
The document provides a Q&A summary of ConAgra Foods' financial results for Q2 FY04 compared to Q2 FY03. Key points include:
- Q2 FY04 diluted EPS was $0.51 compared to $0.44 in Q2 FY03, impacted by $0.04 in discontinued operations in FY04 and $0.03 in divestiture expenses in FY03.
- Sales comparability was impacted by $506M in divested fresh meat businesses in FY03 and $154M in divested canned food businesses in FY03.
- Examples of brand sales growth included Banquet, Chef Boyardee, Egg Beaters
Packaged Foods sales increased 4% excluding divestitures, with 2% volume growth. Several brands posted sales growth including Armour, Banquet, and Blue Bonnet, while others like ACT II and Butterball declined. Sales comparability was affected by $155 million in divested businesses last year. Operating profit grew 5% in Packaged Foods and 10% overall when adjusting for divested businesses and cost savings initiatives. The company is implementing cost cutting measures expected to save more than implementation costs in the future.
The document provides the quarterly and annual financial results for a company. Some key highlights include:
- Several consumer brands posted sales growth for the quarter including Banquet, Blue Bonnet, and Chef Boyardee, while others like ACT II and Eckrich saw declines.
- Total depreciation and amortization was around $93 million for the quarter and $352 million for the fiscal year.
- Capital expenditures were around $106 million for the quarter and $352 million for the fiscal year.
- Net interest expense was $80 million for the quarter and $275 million for the fiscal year.
- Corporate expenses were around $95 million for the quarter and $342 million
- Major brands in the Retail Products segment that posted sales growth included ACT II, Armour, Banquet, and Blue Bonnet. Brands that posted sales declines included Healthy Choice, Slim Jim, and Snack Pack.
- Retail volume increased 8% while foodservice volume was flat excluding divested businesses.
- Increased input costs negatively impacted operating profits in the Retail Products segment by approximately $45 million.
- Capital expenditures were approximately $105 million, reflecting increased investment in information systems.
This document contains the questions and answers from ConAgra Foods' Q2 FY2005 earnings call. Some key details include:
- Several major brands in the Retail Products segment posted sales growth, while others saw declines.
- Retail volume increased 7% and Foodservice volume decreased 1% excluding divested businesses.
- Capital expenditures increased significantly year-over-year due to investments in information systems.
- The company received proceeds from the sale of its minority interest in Swift Foods and shares of Pilgrim's Pride stock.
This document summarizes the Q3 2005 earnings results of a major food company. Some key highlights include: 1) Major brands in the Retail Products segment saw mixed sales results, with growth for brands like Chef Boyardee but declines for brands like Butterball. 2) Unit volumes declined 3% for Retail Products but increased 4% for Foodservice Products. 3) The packaged meats operations were slightly profitable but profits were over $45 million lower than the previous year. The company expects some improvement but not year-over-year profit gains for packaged meats in Q4.
This document summarizes ConAgra Foods' earnings results for fiscal year 2005 (FY05) in a question and answer format. Some key details include:
- FY05 diluted EPS was $1.23, including $0.12 in expenses that impacted comparability.
- Major brands in the Retail Products segment that saw sales growth included ACT II, Banquet, and Blue Bonnet. Brands that saw declines included Armour and Butterball.
- Retail Products volume increased 2% while Foodservice Products volume decreased 2% in Q4.
- Total depreciation and amortization was approximately $351 million for FY05 and $90 million for Q4. Capital expenditures
The document provides the questions and answers from the Q1 FY06 earnings call for ConAgra Foods. Some key details from the summary include:
- Sales grew for major brands like Butterball but declined for brands like ACT II. Retail Products volume declined 3% while Foodservice increased 4%.
- Depreciation and amortization was $89 million. Capital expenditures were $71 million and net interest expense was $68 million. Corporate expense was $73 million.
- Gross margin was 21.6% and operating margin was 10.9%. The effective tax rate for FY06 is estimated to be 36%.
Major brands in the Retail Products segment that posted sales growth included ACT II, Blue Bonnet, Butterball, Kid Cuisine, Marie Callender's, Reddi-wip and Ro*Tel. Brands that posted sales declines included Armour, Banquet, Cook's, DAVID, Eckrich, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, LaChoy, Orville Redenbacher, PAM, Parkay, Peter Pan, Slim Jim, Snack Pack, Swiss Miss, Van Camp's and Wesson. Retail Products volume declined 5% for the quarter while Foodservice Products volume increased 2%. Corporate expense for the quarter was approximately $103 million
The document provides financial information from ConAgra Foods' Q3 FY06 quarterly earnings call. Some key details include:
- Retail segment sales grew 4% and Foodservice grew 1% over the prior year. Several major brands posted sales growth while others declined.
- Gross margin was 24.8% and operating margin was 12.5% for the quarter.
- Net debt was $3.6 billion, down from $4.5 billion a year prior due to debt repayment of $500 million during the quarter.
- Capital expenditures for the quarter and fiscal year-to-date were below prior year levels. Projected fiscal year expenditures are up to $400
- Major brands in the Consumer Foods segment that posted sales growth in Q4 FY06 included Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Hebrew National, and Hunt's. Brands that posted sales declines included ACT II, Banquet, Healthy Choice, Peter Pan, Slim Jim, Snack Pack, and Van Camp's.
- Consumer Foods volume declined 2% in Q4 while Food and Ingredients volume increased 1%.
- Total depreciation and amortization for Q4 was approximately $85 million and approximately $353 million for all of FY06. Capital expenditures were approximately $92 million for Q4 and $288 million for FY
This document summarizes the Q1 FY07 financial results of ConAgra Foods. Some key highlights include:
- Consumer Foods volume increased 1% and Food and Ingredients volume increased 2% in Q1.
- Gross margin was 24.7% and operating margin was 11.7% for the quarter.
- Net debt decreased to $2.88 billion from $3.97 billion in Q1 FY06.
- Restructuring charges totaled $39 million pre-tax, impacting costs in Consumer Foods and corporate expenses.
Major brands in the Consumer Foods segment that posted sales growth included Egg Beaters, Healthy Choice, and Slim Jim. Brands that posted sales declines included ACT II and Blue Bonnet. Total depreciation and amortization from continuing operations was $88 million for the quarter and $177 million year-to-date. Capital expenditures were $66 million for the quarter and $111 million year-to-date. Net interest expense was $52 million for the quarter and $110 million year-to-date.
1) Several major brands in the Consumer Foods segment posted sales growth for the quarter, while others like ACT II and Banquet saw declines. Overall, Consumer Foods volume declined 1% excluding divested businesses.
2) Total depreciation and amortization from continuing operations was around $91 million for the quarter and $268 million year-to-date. Capital expenditures were around $147 million for the quarter and $258 million year-to-date.
3) The company's net debt at the end of the quarter was around $3 billion, with a net debt to total capital ratio of 39%.
1) Several major brands in the Consumer Foods segment posted sales growth for the quarter, while others such as ACT II and Knott's Berry Farm saw declines.
2) Consumer Foods volume was flat excluding divested businesses, while Food and Ingredients volume increased 3%.
3) Capital expenditures increased significantly both for the quarter and full fiscal year compared to the previous year.
Major brands in the Consumer Foods segment that posted sales growth for Q1 FY08 included Banquet, Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Libby's, Marie Callender's, Manwich, Orville Redenbacher's, Reddi-wip, Rosarita, Ro*Tel, Snack Pack, Van Camp's, and Wesson. Brands that posted sales declines included ACT II, Crunch N Munch, Knott's Berry Farm, PAM, Parkay, Slim Jim, and Swiss Miss. Consumer Foods volume increased 3% excluding divested
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
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Clive Bolton, CEO, Life Insurance M&G Plc
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Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
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Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
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Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
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Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
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Understanding Ponzi Schemes
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Notable American Ponzi Schemes
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Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
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Monthly Market Risk Update: June 2024 [SlideShare]
Cummins_Citigroup_Industrial_Conference0306
1. A New Cummins
Tim Solso
Chairman and Chief Executive Officer
Citigroup's 19th Annual Global
Industrial Manufacturing Conference
March 8, 2006
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 60 of our 2005 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.
3. Delivering on Commitments
Target 2005
Revenue Growth 8% - 10% 18%
EBIT Margin 7% - 10% 9%
Cap Ex < D&A 63% of D&A
Debt to Capital Ratio 30% - 40% 42%
Credit Rating Investment S&P BBB-
Grade Moody Ba1
ROE 18% 26%
ROANA 22% 27%
4. Delivering on Commitments
l de r
400 o
areh 5
h
tal S 003 - 0
o
ge T for 2
350
vera turn
A
50%
Re
300
Stock Price Index
250
200
150
100
50
Dec-02 Jun-03 Dec-03 Jun-04 Dec-04 Jun-05 Dec-05
CMI S&P 500 Peer Avg.
9. North America Heavy-duty Truck
Total Revenue
1999 2005
14%
19%
81% 86%
NA HD Truck Original Equipment Sales
Sales to All Other Markets
10. Heavy Duty Engine Business
Low Point 2005
Revenue $1.18B $2.43B
EBIT From loss to significant contribution
NA Market Share 21% 26%
Build Rate 135/day 430/day
PED 8.6 3.6
Inventory Turns 30.2 36.7
Break Even Point Reduced by more than 50%
11. Growing Stable Diversified Earnings
• Larger contributor to
EBIT
total EBIT
$1,000 $907M
• Less cyclical
$750
US$ Millions
• Growth demonstrates
$500
return on investment
$316M*
– Distribution Channel
$250
– Emerging Markets
$0 – Aftermarket
1999* 2005
Stable Cyclical
* Excludes restructuring charges
14. Growing Total China Sales to
$3B by 2010
• Well Positioned
1200
R
AG for Future Growth
%C
26
1000
– East Asia R&D Center
US$ Millions
800
– Medium duty
600
electronic products
400
– Heavy duty entry
200
– Expanded component
manufacturing
0
2000 2001 2002 2003 2004 2005
Consolidated Unconsolidated
Net Sales JV Net Sales
15. Growing Total India Sales to
$2B by 2010
• Well Positioned
900
for Future Growth
GR
800
CA
%
18 – Increased exports
700
US$ Millions
600
– Local electronic
products
500
400 `
– Major capacity
300
increases
200
• TCL ISB Engines 45%
100
• Turbochargers 46%
0
• KV Engines 70%
2000 2001 2002 2003 2004 2005
Consolidated Unconsolidated
Net Sales JV Net Sales
17. Growth in Chrysler Shipments
180,000
160,000
140,000
GR
CA
120,000
24%
100,000
80,000
60,000
40,000
20,000
0
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
18. Focused Cash Management
Operating Cash Flow
$800
$760
• Building a Strong
$700
$614
Balance Sheet
$600
$500
• Investing in growth
$472
Millions USD
$400
• Returning value to
$307
$300
our shareholders
$193
$200
$158
$152
$100
$0
1999 2000 2001 2002 2003 2004 2005
19. Building a Strong Balance Sheet
• Reducing Debt $292M in 2005
At least $250M in 2006
• Funding Liabilities Pension funding:
$151M in 2005
$170-180M in 2006
20. Investing in Growth
Capital Expenditures
$450 300%
$405
$400
250%
$304
$350
Capex in millions USD
Capex as % of D&A
$271
$300 200%
$223
$250
$228
$250
$215 $206 150%
$186
$200
$151
$150 100%
$90 $111
$100
50%
$50
$0 0%
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006F
22. Returning Value to Shareholders
Total Shareholder Returns at
12/31/05
60%
• Dividends
50%
40%
30%
• Share repurchase
20%
10%
0%
-10%
-20%
1 year 2 year 3 year
CMI S&P 500 Index Peer Average
24. Confident about 2007
• No major change in product platform
• No degradation of fuel economy
• Proactively assuring customers of reliability
• Field testing with end-users well underway
• Limited OEM capacity to support pre-buy
• Growing markets and share gains
25. This is the New Cummins
Profitable
Global
Power-Generation
Engine Business
Business
Strong Global
Growing Key
Distribution
Technologies in
Network
Components
28. Engine Segment
2005 Revenue by Market 2005 Revenue by Product
High Horsepower
(19-91L) 18%
Heavy-Duty
Truck 36%
Light-Duty /
RV 19%
Midrange
(3-9L) 45%
Heavy-Duty
(10-15L) 37%
Construction /
Mining / Marine /
Ag 17%
Rail / O&G /
Govt 13%
Medium-Duty Truck
and Bus 15%
2005 Segment Data
Sales: $6.7 billion
EBIT: $582 million
EBIT Margin: 8.7% (Target: 7-10%)
29. Power Generation Segment
2005 Revenue by Market 2005 Revenue by Product
Alternators
18%
Distributed
Power
Rental
Commercial 3%
54%
Consumer
16%
Mobile
Power Standby
Power Power
Electronics
6%
Energy
Solutions 3%
2005 Segment Data
Sales: $2.0 billion
EBIT: $145 million
EBIT Margin: 7.3% (Target: 7-9%)
30. Distribution Segment
2005 Revenue by Product
Service
• Broadening product 18%
offering Engines
21%
• Expanding global
coverage
• Increasing equity Parts,
Filters, &
ownership Consumables
Power
41%
• Excelling in Generation
20%
customer support
2005 Segment Data
Sales: $1.2 billion
EBIT: $107 million
EBIT Margin: 9.0% (Target: 8-10%)
31. Components Segment
2005 Revenue by Product
• Strategic advantage
Specialty
Filtration 5%
Air Intake
in emissions
Systems 11% Turbocharger
compliance
26%
• Significant future
growth in revenue
Exhaust
Systems
and earnings
18%
• New product
introductions
Fuel
Systems
16%
Engine
Filtration 22% 2005 Segment Data
Sales: $2.0 billion Fuel
EBIT: $89 millionSystems
EBIT Margin: 4.5% 11%
(Target: 7-9%)
32. Non-GAAP Reconciliation –
EBIT
Millions Three Months Ended For the Years Ended
Dec. 31, Dec. 31, Sept. 25, Dec. 31, Dec. 31,
2005 2004 2005 2005 2004
Earnings before interest, income taxes, minority $ 269 $ 172 $ 240 $ 907 $ 543
interest and restructuring charges
Restructuring, asset impairment and other $ - $ - $ - $ - $ -
Earnings before interest, income taxes and $ 269 $ 172 $ 240 $ 907 $ 543
minority interest
Interest Expense $ (26) $ (30) $ (27) $ (109) $ (111)
Provision for income taxes $ (63) $ (12) $ (61) $ (216) $ (56)
Minority Interests in earnings of unconsolidated $ (13) $ (11) $ (7) $ (32) $ (26)
subsidiaries
Net Earnings $ 167 $ 119 $ 145 $ 550 $ 350
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 net earnings, for each of the applicable periods.
33. Non-GAAP Reconciliation – Net
Assets
Millions Dec. 31, Dec. 31, Sept. 25,
2005 2004 2005
Net assets for operating segments $ 3,479 $ 3,151 $ 3,312
Liabilities deducted in computing net assets 3,354 3,168 3,421
Minimum pension liability excluded from net (837) (826) (826)
assets
Deferred tax assets not allocated to segments 863 990 928
Debt-related costs not allocated to segments 26 27 27
Total assets $ 6,885 $ 6,510 $ 6,862
34. Non-GAAP Reconciliation – ROANA
Millions Three Months For the Year
Ended Ended
Dec. 31, 2005 Dec. 31, 2005
Earnings before interest, income taxes and $ 269 $ 907
minority interest
Net Assets for operating segments at 3,312 3,151
beginning of period
Net Assets for operating segments at end of 3,479 3,479
period
Average Net Assets for operating segments 3,396 3,315
for period
ROANA 32% 27%