Sometimes a company executes its plan so well that you almost forget that it still operates in a cyclical industry outside of its control. Such seems to be the case with diesel engine and power generator manufacturer Cummins (CMI). Although Cummins management has done a great job of emphasizing free cash flow growth and economic returns, to say nothing of international exposure that many companies dream of, the fact remains that several major markets are looking shaky or at best long in the tooth.
A Tale Of Three Fleets?
For the most part, major North American commercial truck builders like Navistar (NAV), PACCAR (PCAR) and Daimler have been pretty optimistic on the market conditions for new truck builds in 2012. Credit is pretty cheap and even if the trucking industry isn't going gangbusters, it still needs to update fleets.
Please click the link for more:
Cummins: A Rockier Road In 2012?
No comments:
Post a Comment