Shares of Cummins Inc. /zigman2/quotes/208385233/composite CMI -1.44% climbed 1.9% toward a near six-month high in premarket trading Tuesday, after the maker of diesel, natural gas and "new power" engines reported record second-quarter revenue and "solid" profit that rose above expectations, as demand outside of China remained strong. Net income increased to $702 million, or $4.94 a share, from $600 million, or $4.10 a share, in the year-ago period. The per-share results included 16 cents in costs related to the separation of the filtration business and a 33-cent benefit from adjusting reserves related to the suspension of Russia operations. The FactSet consensus for earnings per share was $4.35. Revenue grew 7.8% to $6.59 billion, above the FactSet consensus of $6.48 billion, as engine, distribution and power systems sales beat expectations and components sales were in line. North America sales rose 15% while international sales fell 2%, due primarily to a slowdown in China and the "indefinite suspension" of Russia operations. Cost of sales rose less than revenue, up 4.9% to $4.86 billion, as gross margin improved to 26.2% from 24.2%. The company affirmed its 2022 revenue growth outlook of 8%, while the current FactSet consensus of $25.96 billion implies 8.1% growth. "The company achieved record revenues and solid profitability in the second quarter of 2022, with demand for our products remaining strong across most of our key markets and regions, apart from China," said Chief Executive Jennifer Rumsey. The stock has surged 11.8% over the past three months through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.11% has lost 0.9%.