We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cummins (CMI) Powers First Hydrogen Passenger Train in NA
Read MoreHide Full Article
Accelera, a zero-emission business segment of Cummins Inc. (CMI - Free Report) , is powering North America’s first hydrogen passenger train, the Coradia iLint. This marks Accelera’s significant step forward in the transition to clean urban transportation in the Americas.
The train started operating in Canada on Jun 17, 2023, as part of Alstom’s demonstration project to support the development and marketability of hydrogen propulsion technology in North America. The train has been operating with passengers on board for the entire summer season on the railway of Train de Charlevoix.
The use of Accelera fuel cells in conjunction with green hydrogen is a core element of the project. The fuel cells, mounted on the train’s roof, convert hydrogen into electricity, which powers the train. The green hydrogen used in the train is produced by an Accelera HySTAT®-100-10 electrolyzer. Harnois Énergies owns and operates the electrolyzer in Quebec.
Alison Trueblood, GM of Fuel Cell and Hydrogen Technologies at Accelera said that by leveraging the capabilities of hydrogen-powered technology and the company’s expertise in green hydrogen production, Accelera is driving innovation – providing carbon-neutral solutions for the mobility challenges faced by congested cities.
The Coradia iLint train is expected to be operational for passenger rides until September-end.
Accelera was launched by Cummins on Mar 8, 2023, to secure a sustainable future for the industries. During the last reported quarter, the segment incurred a pretax loss of $114 million. Costs associated with the development of electric powertrains, fuel cells and electrolyzers, as well as products to support battery electric vehicles, contributed to EBITDA losses.
The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 13.5% and 120.2%, respectively. The EPS estimate for 2023 has moved north by $1.52 in the past 30 days. The 2024 EPS estimate has moved up by $1.43 in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings implies a year-over-year increase of 9.4% and 25.3%, respectively. The EPS estimate for 2023 has moved up by 7 cents in the past seven days. The 2024 EPS estimate has moved north by 8 cents in the past seven days.
The Zacks Consensus Estimate for GM’s 2023 sales and earnings implies year-over-year growth of 9.3% and 0.1%, respectively. The EPS estimate for 2023 has moved up by 3 cents in the past seven days. The 2024 EPS estimate has moved north by 5 cents in the past seven days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Cummins (CMI) Powers First Hydrogen Passenger Train in NA
Accelera, a zero-emission business segment of Cummins Inc. (CMI - Free Report) , is powering North America’s first hydrogen passenger train, the Coradia iLint. This marks Accelera’s significant step forward in the transition to clean urban transportation in the Americas.
The train started operating in Canada on Jun 17, 2023, as part of Alstom’s demonstration project to support the development and marketability of hydrogen propulsion technology in North America. The train has been operating with passengers on board for the entire summer season on the railway of Train de Charlevoix.
The use of Accelera fuel cells in conjunction with green hydrogen is a core element of the project. The fuel cells, mounted on the train’s roof, convert hydrogen into electricity, which powers the train. The green hydrogen used in the train is produced by an Accelera HySTAT®-100-10 electrolyzer. Harnois Énergies owns and operates the electrolyzer in Quebec.
Alison Trueblood, GM of Fuel Cell and Hydrogen Technologies at Accelera said that by leveraging the capabilities of hydrogen-powered technology and the company’s expertise in green hydrogen production, Accelera is driving innovation – providing carbon-neutral solutions for the mobility challenges faced by congested cities.
The Coradia iLint train is expected to be operational for passenger rides until September-end.
Accelera was launched by Cummins on Mar 8, 2023, to secure a sustainable future for the industries. During the last reported quarter, the segment incurred a pretax loss of $114 million. Costs associated with the development of electric powertrains, fuel cells and electrolyzers, as well as products to support battery electric vehicles, contributed to EBITDA losses.
Zacks Rank & Key Picks
CMI currently carries a Zacks Rank #3 (Hold).
Some top-ranked players in the auto space include Oshkosh Corporation (OSK - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and General Motors Company (GM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 13.5% and 120.2%, respectively. The EPS estimate for 2023 has moved north by $1.52 in the past 30 days. The 2024 EPS estimate has moved up by $1.43 in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings implies a year-over-year increase of 9.4% and 25.3%, respectively. The EPS estimate for 2023 has moved up by 7 cents in the past seven days. The 2024 EPS estimate has moved north by 8 cents in the past seven days.
The Zacks Consensus Estimate for GM’s 2023 sales and earnings implies year-over-year growth of 9.3% and 0.1%, respectively. The EPS estimate for 2023 has moved up by 3 cents in the past seven days. The 2024 EPS estimate has moved north by 5 cents in the past seven days.