Cummins Inc. (CMI - Free Report) recently released its 2016 Sustainability Progress Report. This is the 14th annual sustainability report.
The report updates the company’s stakeholders on its efforts toward enhancing sustainability. The global power leader has been making improvements toward reducing its environmental impact, particularly in water and energy, which continued in 2016. After reaching its previous target, the company has now set up 2020 goals in those areas.
In terms of sustainability, 2016 was an impressive year for Cummins. The company was successful in lowering the absolute water use by 13 million gallons from the 2015 level. Also, last year saw a 42% decline in water use intensity adjusted by labor hours compared with the company’s base year of 2010. Cummins has also raised its goal of reducing water use intensity by 2020.
Among other sustainability efforts, 80% participation rate was achieved for the second consecutive year in the Every Employee Every Community program to build stronger communities. Also, in 2016, the company was able to raise the health and safety training hours by 20%.
Columbus, IN-based Cummins is a leading global designer, manufacturer and distributor of diesel and natural gas engines, electric power generation systems, and engine-related components, fuel systems, controls and air-handling systems. The 2016 sustainability report is in sync with the company’s broad approach to sustainability, which takes into consideration the environment, corporate responsibility, safety, diversity and inclusion, financial performance, innovation and more.
Cummins outperformed the Zacks categorized Auto-Tires-Trucks market in the last three months. The company’s share price increased 4.2% over this period while the industry saw a 0.6% decline.
Currently, Cummins sports a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks in the auto space include Ferrari N.V. (RACE - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Dana Incorporated (DAN - Free Report) . While Ferrari sports a Zacks Rank #1, Allison Transmission Holdings and Dana Incorporated carry a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Expected long-term growth rate for Ferrari, Allison Transmission Holdings and Dana Incorporated are 14.1%, 11% and 3%, respectively.
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