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Cummins (CMI)
NYSE:CMI
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$4.71Last Year’s EPS
$4.14Same Quarter Last Year
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 8.45%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance and record profitability in Power Systems and Distribution segments, despite challenges such as the softening heavy-duty truck market and hurricane impacts. Continued focus on cost efficiency and strategic investments suggest resilience, though challenges in China and North America truck markets remain.Company Guidance
During the Q3 2024 earnings call for Cummins Inc., several key metrics and guidance updates were provided. The company reported third-quarter sales of $8.5 billion, consistent with the previous year, with North American revenues slightly down by 1% to $5.2 billion, while international revenues increased by 2%. Cummins' EBITDA improved to $1.4 billion, representing 16.4% of sales, up from 14.6% the previous year. The Engine segment saw an EBITDA margin increase to 14.7%, driven by operational efficiencies and favorable pricing. For 2024, Cummins maintained its revenue guidance of a 3% decrease to flat, while improving its overall EBITDA guidance to approximately 15.5%. The company expects North American heavy-duty truck demand to soften but sees continued strength in the Power Systems and Distribution segments, with projected revenue increases of 8-11% and 15-20%, respectively. Internationally, revenues in China are expected to decrease by 4%, while India is projected to see a 1% increase. Cummins also anticipates maintaining robust demand for power generation and medium-duty trucks.Strong Third Quarter Financial Performance
Third quarter revenues were $8.5 billion, flat from a year ago, with EBITDA at $1.4 billion or 16.4% of sales, compared to $1.2 billion or 14.6% a year ago.
Power Systems and Distribution Segments Record Performance
Power Systems segment set another new quarterly record with revenues of $1.7 billion, an increase of 17%, and EBITDA increasing to 19.4% of sales. The Distribution segment saw revenues increase 16% to a record $3 billion.
Launch of X15N Natural Gas Engine
Cummins started full production of the X15N natural gas engine, marking an important milestone in the Destination Zero strategy. UPS purchased 250 Kenworth X15N powered trucks.
Accelera Electrolyzer Manufacturing Plant Opening
Accelera by Cummins opened its electrolyzer manufacturing plant in Spain, capable of producing 500 megawatts of electrolyzers per year, scalable to over 1 gigawatt.
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CMI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CMI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $324.01 | $352.71 | +8.86% |
| Aug 01, 2024 | $288.63 | $302.77 | +4.90% |
| May 02, 2024 | $279.14 | $275.62 | -1.26% |
| Feb 06, 2024 | $235.58 | $245.77 | +4.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cummins (CMI) report earnings?
Cummins (CMI) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Cummins (CMI) earnings time?
Cummins (CMI) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CMI EPS forecast?
CMI EPS forecast for the fiscal quarter 2024 (Q4) is $4.71.
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