Earnings summaries and quarterly performance for CUMMINS.
Executive leadership at CUMMINS.
Jennifer Rumsey
Detailed
Chief Executive Officer
CEO
AD
Amy Davis
Detailed
Vice President and President – Accelera and Components
JB
Jenny Bush
Detailed
Vice President and President – Power Systems
MS
Mark Smith
Detailed
Chief Financial Officer
SP
Srikanth Padmanabhan
Detailed
Executive Vice President and President – Operations
Board of directors at CUMMINS.
BD
Bruno Di Leo
Detailed
Director
CH
Carla Harris
Detailed
Director
DF
Daniel Fisher
Detailed
Director
GB
Gary Belske
Detailed
Director
JS
John Stone
Detailed
Director
KQ
Karen Quintos
Detailed
Director
KN
Kimberly Nelson
Detailed
Director
MT
Matthew Tsien
Detailed
Director
RB
Robert Bernhard
Detailed
Director
TL
Thomas Lynch
Detailed
Lead Independent Director
WM
William Miller
Detailed
Director
Research analysts who have asked questions during CUMMINS earnings calls.
AC
Angel Castillo Malpica
Morgan Stanley
9 questions for CMI
Also covers: AGCO, ALSN, CAT +15 more
DR
David Raso
Evercore ISI
9 questions for CMI
Also covers: CAT, CNH, DE +12 more
Jamie Cook
Truist Securities
9 questions for CMI
Also covers: ACM, AGCO, AME +17 more
Kyle Menges
Citigroup
9 questions for CMI
Also covers: AGCO, ALH, ALSN +11 more
SF
Steven Fisher
UBS
8 questions for CMI
Also covers: ACM, AGCO, BBCP +22 more
Rob Wertheimer
Melius Research LLC
7 questions for CMI
Also covers: ALSN, AME, CAT +12 more
TZ
Tami Zakaria
JPMorgan Chase & Co.
7 questions for CMI
Also covers: ADM, AGCO, ALSN +23 more
Chad Dillard
AllianceBernstein
6 questions for CMI
Also covers: CAT, DE, HUBB +6 more
Noah Kaye
Oppenheimer & Co. Inc.
6 questions for CMI
Also covers: AAON, AMRC, BWA +16 more
JR
Jerry Revich
Goldman Sachs Group Inc.
5 questions for CMI
Also covers: AGCO, ALSN, ATMU +28 more
TT
Tim Thein
Raymond James Financial
4 questions for CMI
Also covers: AGCO, ALSN, CNH +11 more
SV
Stephen Volkmann
Jefferies
3 questions for CMI
Also covers: AGCO, CARR, CAT +21 more
TT
Timothy Thein
Raymond James
3 questions for CMI
Also covers: AGCO, ALSN, CAT +14 more
Cole Bardawill
Wolfe Research, LLC
2 questions for CMI
Also covers: ELME
Robert Wertheimer
Melius Research
2 questions for CMI
Also covers: ALSN, AME, CAT +12 more
AJ
Avinatan Jaroslawicz
UBS
1 question for CMI
Also covers: DY, MTZ, PRIM +1 more
CA
Charles Albert Dillard
Bernstein
1 question for CMI
Also covers: CAT, DE, ETN +6 more
Jeffrey Kauffman
Vertical Research Partners
1 question for CMI
Also covers: ARCB, CHRW, CSX +14 more
Recent press releases and 8-K filings for CMI.
Cummins reports Q4 2025 results
CMI
Earnings
Guidance Update
- Q4 revenue of $8.5 billion, up 1% year-over-year; Q4 EBITDA $1.2 billion (13.5%), or $1.4 billion (16%) excluding $218 million of Accelera charges.
- 2025 revenue of $33.7 billion, down 1%; EBITDA $5.4 billion (16%), or $5.8 billion (17.4%) ex-$458 million of Accelera charges; record full-year segment EBITDA margins in Power Systems at 22.7% and Distribution at 14.6%.
- 2026 guidance calls for revenue growth of 3–8% and an EBITDA margin of 17–18%.
- Q4 operating cash flow was $1.5 billion; full-year 2025 capital expenditures were $1.2 billion; dividends totaled $1.1 billion.
1 day ago
Cummins announces Q4 2025 results
CMI
Earnings
Guidance Update
- Q4 revenue of $8.5 billion (+1% year-over-year) and EBITDA of $1.2 billion (13.5% of sales); excluding $218 million in accelerate segment charges, EBITDA was $1.4 billion (16%).
- 2025 full-year revenues of $33.7 billion (-1%) and EBITDA of $5.4 billion (16%); excluding one-time charges, EBITDA was $5.8 billion (17.4%).
- Record segment margins in power systems (22.7% of sales, +430 bps) and distribution (14.6% of sales, +250 bps) driven by data center demand and operational efficiency.
- 2026 guidance: revenues expected to increase 3%–8% and EBITDA margin to be 17%–18%, with continued North America truck market weakness in H1 and strong power generation and aftermarket demand.
1 day ago
Cummins reports Q4 2025 results and 2026 guidance
CMI
Earnings
Guidance Update
- Q4 2025 revenues were $8.5 billion, up 1% year-over-year, with reported EBITDA of $1.2 billion (13.5% of sales); excluding $218 million of electrolyzer-related charges, adjusted EBITDA was $1.4 billion (16%).
- Full-year 2025 revenues of $33.7 billion declined 1%; EBITDA of $5.4 billion (16.0%) included $458 million of accelerate segment charges, while adjusted EBITDA reached a record $5.8 billion (17.4%).
- For 2026, Cummins forecasts revenues to grow 3%–8% and EBITDA margins of 17%–18%, with anticipated first-half weakness in North America truck markets and continued strength in power generation.
1 day ago
Cummins reports Q4 2025 results and 2026 guidance
CMI
Earnings
Guidance Update
- Fourth quarter revenues were $8.5 billion, with GAAP net income of $593 million, or $4.27 per diluted share.
- Q4 EBITDA was 13.5% of sales, including $218 million of charges related to its electrolyzer business in Accelera.
- Full-year 2025 revenues totaled $33.7 billion, GAAP net income was $2.8 billion (or $20.50 EPS), and EBITDA was 16.0% of sales.
- For 2026, Cummins expects revenues to grow 3%–8% and EBITDA to be 17.0%–18.0% of sales.
1 day ago
Cummins reports Q4 and full-year 2025 results
CMI
Earnings
Guidance Update
- Q4 revenue of $8.5 billion, GAAP net income of $593 million (6.9% of sales) and diluted EPS of $4.27, including $218 million of charges ($1.54 per share) related to the Electrolyzer business.
- Full-year 2025 revenue of $33.7 billion, GAAP net income of $2.8 billion (8.4% of sales) and diluted EPS of $20.50, including $458 million of Electrolyzer charges ($3.28 per share).
- Q4 sales rose 1% year-over-year, with North America down 2% and international up 5%.
- 2026 outlook calls for revenue growth of 3–8% and EBITDA margins of 17.0–18.0%.
1 day ago
Cummins projects hydrogen IC engine market to reach USD 274.38B by 2035
CMI
Product Launch
- The Hydrogen IC Engine Market is valued at USD 35.33 Billion in 2025 and is forecast to expand at a 22.76% CAGR to USD 274.38 Billion by 2035.
- Decarbonization mandates and demand for low-carbon heavy-duty power solutions are driving adoption of hydrogen ICEs, which leverage existing internal combustion engine infrastructure to reduce transition costs.
- In 2025, hydrogen-only engines held a 61% market share, while dual-fuel engines are the fastest-growing segment over 2026–2035.
- North America leads with a 36.47% revenue share in 2025, and the Asia Pacific region is the fastest-growth market at a 26.29% CAGR through 2035.
- In April 2025, Cummins launched H2 ICE turbochargers for heavy-duty on-highway applications, securing a Euro VII-compliant engine supply contract with a major European OEM.
Jan 27, 2026, 12:27 PM
Cummins raises dividend amid Q3 revenue slip and truck order decline
CMI
Earnings
Dividends
Guidance Update
- Q3 2025 revenue of $8.3 billion, a slight year-over-year decline but above Wall Street estimates, driven by strong backup power and data center demand.
- Adjusted EPS of $5.59 vs. consensus $4.81, reflecting resilience despite non-cash impairment charges in the Accelera segment.
- Power Systems revenue up 18%, Distribution 7%, and Accelera 10% year-over-year in the quarter.
- Quarterly dividend raised to $2.00 per share, marking the 16th consecutive annual increase.
- Paused full-year guidance amid regulatory uncertainty, planning an update in February 2026.
Nov 7, 2025, 1:03 AM
Cummins reports Q3 2025 results
CMI
Earnings
Demand Weakening
Guidance Update
- Revenues of $8.3 billion in Q3 2025, down 2% year-over-year; EBITDA of $1.2 billion (14.3% of sales), or $1.4 billion (17.2%) excluding $240 million non-cash Accelera charges
- North America on-highway truck demand remains weak: heavy-duty unit sales down 38% and medium-duty down 55% year-over-year, with Q4 on-highway engine shipments expected to decline a further 15%
- Record power systems revenues of $2.0 billion (+18%) with a 22.9% EBITDA margin, and distribution revenues of $3.2 billion (+7%) with a 15.5% margin
- Strategic actions include a collaboration with Komatsu on hybrid mining powertrains and a review of the electrolyzer business following weaker green hydrogen demand
Nov 6, 2025, 3:00 PM
Cummins reports Q3 2025 earnings call highlights
CMI
Earnings
Guidance Update
New Projects/Investments
- Engine segment faces margin pressure from product changeovers, higher engineering costs, and lower volumes; management expects Q4 performance to be similar to Q3 levels as pressures bottom out.
- Power Systems achieved ~50% incremental margins in Q3 on a $200 million capacity expansion and record orders; further investments planned, but margin improvement will plateau.
- Data center business generated $2.6 billion revenue in 2024 (split evenly between PSBU and DBU) and is projected to grow 30–35% in 2025; capacity doubling for large engines is concluding and potential expansions into prime power and natural gas engines are under review.
- Accelera segment recorded non-cash impairment charges in Q3, mainly goodwill write-downs; electrolyzers account for less than half of losses, and cost-reduction measures are underway.
- E-mobility (primarily U.S. bus applications) has transitioned from negative to stable gross margins, while regulatory uncertainty for 2027 product launches persists and discussions with the EPA continue.
Nov 6, 2025, 3:00 PM
Cummins reports Q3 2025 earnings
CMI
Earnings
Demand Weakening
Guidance Update
- Sales of $8.3 B, down 2% YoY, driven by weaker North America truck demand, with EBITDA of $1.2 B (14.3% of sales) and $1.4 B (17.2% excl. $240 M electrolyzer charges)
- Heavy-duty engine sales fell 38% to 16 k units and medium-duty fell 55% to 17 k; North America power generation revenues rose 27% and international revenues increased 2%
- China revenues of $1.7 B, up 16%, and India revenues of $713 M, up 3%, supported by data-center and domestic market strength
- Tariff costs rose in Q3; Cummins is nearing full recovery of earlier tariffs but remains net negative, and expects a further 15% drop in on-highway engine shipments in Q4
- Accelera segment took $240 M non-cash charges on electrolyzer assets amid reduced incentives and slower market development, triggering a strategic review
Nov 6, 2025, 3:00 PM
Quarterly earnings call transcripts for CUMMINS.
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