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Cummins (CMI)
NYSE:CMI
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
5.62Last Year’s EPS
5.96Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong underlying operational performance and record adjusted profitability driven by Power Systems and Distribution, successful product launches, capacity expansions, solid cash generation, and constructive 2026 guidance (revenues +3–8% and EBITDA ~17–18%). Offsetting these positives are pronounced demand weakness in North America heavy/medium truck markets, significant restructuring charges and ongoing losses in Accelera (electrolyzer), and ongoing tariff-related margin dilution and regional market uncertainty (China, India). On balance, the strength in core businesses, record adjusted margins, clear actions to reduce Accelera costs, and positive guidance outweigh the lowlights.Company Guidance
Record Adjusted EBITDA and Margin Expansion
Excluding one-time items, 2025 adjusted EBITDA was a record $5.8 billion or 17.4% of sales (vs. 15.7% in 2024). Fourth quarter adjusted EBITDA was $1.4 billion or 16.0% (vs. 15.8% a year ago).
Power Systems and Distribution Delivered Record Profitability
Power Systems full-year revenue of $7.5 billion, up 16% year-over-year, with record EBITDA margin of 22.7% (up 430 basis points from 18.4% in 2024). Distribution revenue was a record $12.4 billion, up 9% year-over-year, with record EBITDA margin of 14.6% (up 250 basis points from 12.1%).
Strong Q4 and FY Cash Flow and Capital Discipline
Operating cash flow in Q4 was an inflow of $1.5 billion (up $112 million YoY). Full-year capital expenditures were $1.2 billion, flat with prior year. Returned $1.1 billion to shareholders via dividends while maintaining investment in growth and an A credit rating.
Product and Strategic Progress
New product introductions and strategic actions: X10 engine (replacing L9 and X12), new B 7.2 diesel engine, S17 Sentum 1 MW genset, completed 95-liter capacity expansion ahead of schedule, acquisition of First Mode and collaboration with Komatsu for mining hybrid powertrains.
Positive 2026 Financial Guidance
Company guidance for 2026: revenues up 3% to 8% vs. 2025 and EBITDA margins ~17% to 18% (including tariff dilution). Power Systems guidance: revenue +12% to +17% and EBITDA 23%–24%. Distribution revenue guidance +5% to +10%.
Improved Underlying EPS Excluding One-Time Charges
Full-year all-in net earnings were $2.8 billion ($20.50 per diluted share). Excluding one-time charges, 2025 net earnings were $3.3 billion or $23.78 per diluted share (vs. $21.37 in 2024), showing underlying EPS growth.
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
CMI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $603.60 | $538.84 | -10.73% |
Nov 06, 2025 | $435.83 | $459.27 | +5.38% |
Aug 05, 2025 | $357.01 | $368.50 | +3.22% |
May 05, 2025 | $294.38 | $296.78 | +0.82% |
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.
FAQ
When does Cummins (CMI) report earnings?
Cummins (CMI) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Cummins (CMI) earnings time?
Cummins (CMI) earnings time is at May 05, 2026, Before Open (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 2026 (Q1) is 5.62.