© 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.