Home Stock Market Cummins to take about $2.04 billion cost in fourth quarter By Reuters

Cummins to take about $2.04 billion cost in fourth quarter By Reuters

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Cummins to take about $2.04 billion cost in fourth quarter By Reuters

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© Reuters. Cummins emblem is seen displayed on this illustration taken April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photograph

(Reuters) – Truck engine maker Cummins (NYSE:) mentioned on Friday it expects to take practically $2.04 billion in cost within the fourth quarter because it reached an settlement to resolve regulatory claims on its emissions certification and compliance for sure engines.

The corporate, which first disclosed a evaluation in 2019, has already recalled sure RAM vehicles with its powertrains and has beforehand accrued $59 million as estimated prices for executing the recollects.

In its newest quarter, it had raised fiscal 2023 income forecast on sturdy demand after its outcomes beat market expectations.

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