The pandemic has tested all manufacturers, but few have proven themselves up for the challenge more than
Shareholders already have been richly rewarded for that success, and many analysts think the stock has substantially more upside. Shares have risen nearly 30% this year, reaching
As IBJ reported in September, by the time the pandemic hit,
The company cut back further when the pandemic hit and has a strong balance sheet- financial might that will put
Investors were buoyed that second-quarter sales, while down 38% from the same quarter a year earlier, actually were substantially better than expected.
While third-quarter sales were down 11% from a year earlier, they were 33% higher than in the second quarter, and earnings per share beat the consensus estimate of analysts by 40%.
“The bottom line is, once again, CMI has managed better than expected in a downturn, and we have a high degree of confidence they can do so on the upturn,” Credit Suisse analyst