The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Feb 9, 2018
Cummins Inc. reported fourth quarter revenues of $5.5 billion, a 22 percent increase from the same quarter in 2016, according to the Indianapolis company.
Strong demand for trucks, and construction and mining equipment drove the majority of the revenue increase, the release states. Sales in North America and international markets both increased by 22 percent.
Earnings before interest and taxes (EBIT) in the fourth quarter were $620 million, or 11.3 percent of sales, up from $526 million or 11.7 percent of sales a year ago. EBIT was negatively impacted by $39 million as a result of charges incurred by unconsolidated joint ventures related to U.S. tax reform. Excluding the impact of tax reform, EBIT for the fourth quarter of 2017 was $659 million or 12.0 percent of sales.
“The company delivered strong growth, solid profitability and record operating cash flow in 2017,” says Chairman and CEO Tom Linebarger. “We expect demand to remain strong in many of our core markets in 2018 and profit ability to improve as a result of higher sales and continued execution of our cost reduction initiatives. The company again plans to return at least 50 percent of operating cash flow to shareholders in 2018.”
Revenues for the full year 2017 were $20.4 billion, 17 percent higher than 2016. Revenues in North America increased 15 percent and international sales increased 19 percent.
To read the full release, CLICK HERE.