COverview
Cummins designs and manufactures engines, power generation systems, and related components for commercial vehicles, industrial machinery, and stationary power. Vehicle and equipment makers install its diesel and natural gas engines, while businesses use its generator sets for backup and continuous electricity. Its components include turbochargers, emissions controls, transmissions, axles, and brakes, and its Accelera business builds batteries and electric powertrain systems. Cummins earns revenue from equipment and component sales, replacement parts, and maintenance through company-owned and independent distributors and dealers. Cummins was founded in 1919 and is headquartered in Columbus, Indiana.
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About Cummins
Industries
Company Size
10,001+
Company Stage
IPO
Headquarters
Columbus, IN
Founded
1919
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Simplify's take
What believers are saying
- Revenue is expanding: August 2026 Cummins reported $9.5 billion in second-quarter sales, up 9% year over year.
- Power demand is increasing: August 2026 Cummins reported Power Systems segment sales of $2.3 billion, up 19%.
- Retirement contributions are fully vested: Cummins' May 2026 US plan filing describes immediate vesting of employee and employer money.
What critics are saying
- Hydrogen investments lost value: February 2026 Cummins reported $458 million of 2025 electrolyzer charges, including $415 million noncash.
- Customer concentration matters: February 2026 filings show PACCAR accounted for 13% of Cummins' 2025 consolidated sales.
- Retiree medical money requires tenure: Cummins' main US savings plan starts those contributions after two service years.
What makes Cummins unique
- Road support has substantial reach: Cummins lists over 3,700 authorized on-highway service locations.
- Fuel choices share engine architecture: Cummins' HELM variants retain common components below the head gasket and fuel-specific parts above.
- Generator packages share a manufacturer: Cummins builds engines, alternators, transfer switches, and controls for its integrated power systems.
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Funding
Total Funding
$87M
Above
Industry Average
Funded Over
5 Rounds
Benefits
- Hybrid Work Options
Stock Price
Growth & Insights and Company News
6 month growth
12%1 year growth
13%2 year growth
13%Cummins Q3 earnings call highlights. Cummins (NYSE:CMI) reported record third-quarter profitability as demand for truck engines and data center power equipment lifted revenue, but the company narrowed its full-year sales outlook after pickup truck demand fell short of expectations. Revenue rose 13% from a year earlier to $9.4 billion, while earnings before interest, taxes, depreciation and amortization, or EBITDA, climbed to a record $1.8 billion, or 18.9% of sales. A year earlier, EBITDA was $1.2 billion, or 14.3% of sales, including $240 million in goodwill impairment and inventory charges related to the Accelera business. Excluding those prior-year charges, the EBITDA margin improved by approximately 170 basis points. CEO Jennifer Rumsey attributed the improvement primarily to higher volumes, partially offset by increased variable compensation expenses. Net earnings rose to $1.1 billion, or $8.25 per diluted share, from $536 million, or $3.86 per share. The latest quarter included $75 million in favorable discrete tax items, equivalent to $0.54 per diluted share. Operating cash flow increased to $1.4 billion from $1.3 billion. Outlook reflects weaker pickup demand. Cummins now expects 2026 revenue to grow approximately 10%, at the low end of its previous 10% to 13% range. It forecasts an EBITDA margin of approximately 18.2%, compared with its earlier range of 18% to 18.5%. CFO Mark Smith said lower-than-expected North American pickup truck volumes were the primary reason for the revenue revision. The company cut its full-year pickup engine shipment forecast to 118,000 to 122,000 units from 125,000 to 140,000, citing pressure from elevated diesel prices and interest rates. Cummins also lowered its North American medium-duty truck production forecast to 125,000 to 130,000 units from 130,000 to 140,000. Rumsey said regulatory uncertainty and the anticipated phased transition to EPA 2027 products had delayed some customer purchasing decisions. The company maintained its heavy-duty truck market forecast at 240,000 to 250,000 units. Smith said the updated full-year outlook implies fourth-quarter revenue growth of 15% year over year. He added that third-quarter revenue fell short of the company's expectations partly because of supply constraints and partly because of market conditions, primarily weaker pickup demand. Data center demand drives Power Systems growth. Power Systems revenue rose 15% to a record $2.3 billion, and its EBITDA margin increased to 25.4% from 22.9%. Smith cited stronger global power generation demand and favorable pricing. Cummins maintained its forecast for global power generation revenue growth of 15% to 25% in 2026. Supply constraints limited third-quarter shipments across Power Systems and Distribution. Smith said a Power Systems supplier challenge delayed production and subsequent installations, shifting approximately $200 million in expected revenue from the third quarter into the fourth. Cummins expects to recover most delayed shipments in the final quarter. Rumsey said third-quarter order intake exceeded expectations, with orders for larger generator sets extending into the second half of 2028. Smith said data center order dollars had reached roughly equal levels in the U.S. and international markets, with China and Southeast Asia among the fastest-growing areas. Cummins said it remains on track with its power generation capacity expansion. Rumsey expects an increase in capacity next year, with most of the additional capacity coming online in 2028. The company also opened an approximately $100 million cooling systems facility in Wisconsin that she said will more than double production capacity for its IEA business. In August, Cummins announced its selection to supply battery energy storage systems for a large U.S. data center project. Smith said the opportunity was likely to grow but was not expected to be the most significant factor in the company's Power Systems outlook. Product transition and electrolyzer review. Rumsey said Cummins expects the Environmental Protection Agency's final rule to be issued likely in December and anticipates that nonconformance penalties, or NCPs, will be included. She said uncertainty over their amount was contributing to hesitation among customers. Cummins plans to pass applicable penalties on to customers, Smith said. The company plans limited production of its new X10 and X15 engines beginning in January, followed by a transition to full production in the third and fourth quarters of 2027. Rumsey said the B engine would transition to the new product at the beginning of 2028. Separately, Smith said two Cummins subsidiaries issued a stop-use recommendation during the quarter to customers of HyLYZER electrolyzer products following a review of operational data. The subsidiaries have not initiated a recall and are evaluating whether modifications are needed. The potential financial impact remains under review and is not included in guidance. Cummins returned $661 million to shareholders during the quarter through repurchases and dividends. In closing remarks, investor relations chief James Hopkins said the company expects another year of strong operating cash flow in 2027 and plans to return approximately 50% of that cash flow to investors. Detailed 2027 guidance is expected with the fourth-quarter earnings call in February. About Cummins (NYSE:CMI). Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications. The company's offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation. Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.
Cummins reports strong Q3 results. 2 minutes read Cummins Inc. reported results for the third quarter of 2026. "We delivered record EBITDA and earnings per share in the third quarter, led by continued strength in our Power Systems business," said Jennifer Rumsey, chair and CEO of Cummins. "Global demand for power generation equipment remains exceptionally strong, driven by data center buildout. While the U.S. medium- and heavy-duty truck markets strengthened, customer orders in the pickup truck market have weakened. I'm proud of our employees' focus on execution and confident our market-leading positions and broad portfolio will enable us to continue to deliver for customers, improve our financial performance cycle-over-cycle and return cash to shareholders." Third-quarter 2026 revenues of $9.4 billion increased 13% from the same quarter in 2025. Sales in North America grew 15% while international revenues, led by growth in China, increased 11%. Net income attributable to Cummins in the third quarter was $1.14 billion, or $8.25 per diluted share, compared with $536 million, or $3.86 per diluted share, in 2025. Third-quarter 2025 results included $240 million, or $1.73 per diluted share, of Accelera non-cash charges. Third-quarter 2026 diluted EPS included $0.54 per share of favorable discrete tax items. EBITDA in the third quarter was a record $1.8 billion, or 18.9% of sales, compared to $1.2 billion, or 14.3% of sales, a year ago. EBITDA for the third quarter of 2025 included costs noted above. 2026 outlook: Based on its current forecast, Cummins expects revenue growth of approximately 10% compared to its prior guidance of 10% to 13%. EBITDA margins are expected to be approximately 18.2%, consistent with its prior guidance range of 18% to 18.5%, and excluding charges related to the sale of the low-pressure fuel cell business in the first quarter. Cummins plans to continue generating strong operating cash flow and returns for shareholders and is committed to its goal of returning 50% of operating cash flow back to shareholders. "We have adjusted our full-year revenue and profitability guidance primarily due to continued weaker than expected pickup truck demand in North America, which impacted our third quarter and is expected to persist through the end of this year," said Rumsey. "Global power generation and North America heavy duty truck demand remain strong, and we expect fourth quarter revenues to step up from third quarter levels and set a new record." Third quarter 2026 highlights: * In July, Cummins increased its quarterly common stock cash dividend from $2.00 to $2.20 per share. The company has increased the quarterly dividend to shareholders for 17 consecutive years. * In August, Cummins announced that its Power Generation business had been selected to supply battery energy storage systems (BESS) for a large U.S. data center project, supporting utility-defined requirements for managing AI-driven load fluctuations, mitigating load oscillations and enhancing ride-through performance. This announcement marks a significant milestone for Cummins' BESS business as this project will be the company's largest BESS deployment to date. It also reflects Cummins' continued role in supporting the data center market with reliable, sustainable power solutions. * Cummins made important progress preparing for the launch of its upcoming HELM engine platforms. During the quarter, it completed the 2026 Forever Rising Tour, giving more than 500 customers and dealers the opportunity to experience its 2027 X15 engine, alongside the X10 and natural gas X15N engines. * Cummins was named as a World's Top Disability Inclusive Business for the sixth consecutive year, earning a top score of 100 on the Disability Index.
Cummins (NYSE:CMI) price target cut to $525.00 by analysts at Citigroup. November 6, 2026 Key points. * Citigroup cut its Cummins price target to $525 from $630 but kept a Buy rating, implying 16.52% upside from the share price cited in the report. * Analyst views remain broadly positive: Cummins has a "Moderate Buy" consensus rating and an average price target of $674.53, though several firms have recently lowered targets. * Quarterly EPS of $8.25 topped estimates, but revenue of $9.44 billion fell short; Cummins also lowered its FY2026 revenue outlook, citing weakness in pickup trucks. * MarketBeat previews top five stocks to own in December. Cummins (NYSE:CMI - Get Free Report) had its target price decreased by Citigroup from $630.00 to $525.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 16.52% from the company's current price. A number of other equities analysts have also weighed in on CMI. Sanford C. Bernstein reissued a "market perform" rating and issued a $700.00 price target on shares of Cummins in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Cummins from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, August 31st. Wells Fargo & Company reduced their price objective on shares of Cummins from $608.00 to $520.00 and set an "overweight" rating for the company in a report on Friday. Bank of America decreased their target price on shares of Cummins from $731.00 to $600.00 in a research report on Thursday, September 24th. Finally, Wall Street Zen lowered shares of Cummins from a "buy" rating to a "hold" rating in a report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $674.53. Cummins trading up 0.4%. NYSE:CMI traded up $1.98 on Friday, reaching $450.56. 2,137,566 shares of the stock traded hands, compared to its average volume of 1,025,637. The company's 50 day moving average is $528.92 and its 200-day moving average is $600.18. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. Cummins has a 1-year low of $443.62 and a 1-year high of $737.76. The firm has a market capitalization of $62.02 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26. Discover more Stock Market News Stock Market Holidays Track Stock Market Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $8.25 earnings per share for the quarter, topping the consensus estimate of $8.20 by $0.05. Cummins had a return on equity of 25.29% and a net margin of 7.82%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.89 billion. During the same period last year, the company posted $5.59 EPS. The business's quarterly revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Cummins will post 29.98 EPS for the current fiscal year. Insider transactions at Cummins. In other Cummins news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the sale, the vice president owned 4,479 shares of the company's stock, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by company insiders. Institutional inflows and outflows. Institutional investors have recently made changes to their positions in the company. Valmark Advisers Inc. grew its position in Cummins by 1.9% in the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company's stock valued at $472,000 after acquiring an additional 16 shares in the last quarter. Guardian Partners Inc. lifted its position in shares of Cummins by 1.0% during the first quarter. Guardian Partners Inc. now owns 1,584 shares of the company's stock worth $852,000 after purchasing an additional 16 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Cummins by 2.0% during the second quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company's stock worth $681,000 after purchasing an additional 19 shares in the last quarter. Sage Private Wealth Group LLC boosted its stake in shares of Cummins by 3.0% in the third quarter. Sage Private Wealth Group LLC now owns 660 shares of the company's stock valued at $341,000 after purchasing an additional 19 shares during the period. Finally, Ariadne Wealth Management LP boosted its stake in shares of Cummins by 5.1% in the first quarter. Ariadne Wealth Management LP now owns 415 shares of the company's stock valued at $223,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock. Key Cummins news. Here are the key news stories impacting Cummins this week: * Data-center demand is surging, and Cummins cited shipment recovery and capacity expansion as growth supports. Quarterly profit also increased substantially year over year. * Cummins cut its FY 2026 revenue outlook to $37.0 billion, below the roughly $37.7 billion analyst estimate, citing weakness in pickup trucks. Q3 revenue of $9.44 billion also fell short of estimates, tempering the profit growth. * Truist cut its price target to $637 from $779, while retaining a Buy rating. Wells Fargo lowered its target to $520 from $608 but maintained Overweight. The reductions reflect a more cautious outlook, although both firms' targets remain above the recent share price. Cummins company profile. Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications. The company's offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation. Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Cummins, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list. While Cummins currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. 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Cummins reported record third-quarter 2026 earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.8 billion, or 18.9% of sales, up from $1.2 billion a year earlier. Revenue rose 13% to $9.4 billion, with North American sales up 15% and international sales up 11%. Net income was $1.14 billion, or $8.25 per diluted share, against $536 million, or $3.86, in 2025. Power Systems led, helped by data center demand; its sales rose 15% to $2.3 billion. Weak pickup truck demand in North America led the company to trim its full-year revenue growth forecast to about 10%, from 10% to 13%. It expects EBITDA margins of about 18.2% and record fourth-quarter revenue. In July, Cummins raised its quarterly dividend from $2.00 to $2.20 per share.
Cummins India Q2 result: net profit falls 27 pc to Rs 467 crore. 5 Nov 2026 12:33 AM Digital Desk | Mumbai, Nov 5 (IANS) Cummins India on Thursday reported a 27 per cent year-on-year (YoY) decline in profit after tax (PAT) to Rs 467 crore for the quarter ended September 2026 (Q2 FY27), impacted by margin pressures arising from commodity and freight inflation as well as an adverse product mix. The company had reported a PAT of Rs 638 crore in the corresponding quarter of the previous financial year, according to its stock exchange filing. Despite the decline in profitability, revenue growth remained steady during the quarter. Total sales rose 4 per cent year-on-year to Rs 3,247 crore in the July-September period of FY27, compared with Rs 3,122 crore in the same quarter last year. Domestic sales increased 5 per cent to Rs 2,692 crore from Rs 2,577 crore a year ago, driven by continued demand across key sectors. Export sales also recorded a modest rise of 2 per cent to Rs 555 crore, compared with Rs 545 crore in the year-ago period, as per its regulatory filing. Commenting on the performance, Adegbile Adewunmi, Managing Director of Cummins India, said demand remained healthy across major domestic markets, supported by growth in data centres, manufacturing, real estate and the company's distribution business. He added that exports also registered growth during the quarter. "Demand remained healthy across key domestic markets, supported by data centers, manufacturing, realty and continued growth in the distribution business. Exports also recorded growth over the previous quarter. Commodity and freight inflation, coupled with product mix, impacted margins," he noted. "The benefits of pricing actions are expected to flow through progressively. The Company remains focused on disciplined order execution, price realization and cost management, while continuing to deliver on its promise of dependability and reliability to customers," he added. Looking ahead, Cummins India said it expects demand across both domestic and export markets to remain stable. The company noted that the operating environment continues to be shaped by geopolitical uncertainties, inflationary pressures, volatility in commodity prices and evolving supply-chain conditions.
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About Cummins
Industries
Company Size
10,001+
Company Stage
IPO
Headquarters
Columbus, IN
Founded
1919
Cummins is Hiring for 1157 Jobs on Simplify!
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs