Cummins (CMI) Reports Q4 Earnings: What Key Metrics Have to Say
Cummins (CMI) reported $8.54 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 10%. EPS of $4.14 for the same period compares to $4.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $8.08 billion, representing a surprise of +5.79%. The company delivered an EPS surprise of -6.12%, with the consensus EPS estimate being $4.41.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cummins performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Eliminations: -$1.65 billion versus the six-analyst average estimate of -$1.71 billion. The reported number represents a year-over-year change of -1.7%.
Net sales- Engine: $2.78 billion versus $2.60 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
Net sales- Accelera: $81 million versus the six-analyst average estimate of $106.62 million. The reported number represents a year-over-year change of +8%.
Net sales- Power System: $1.43 billion compared to the $1.36 billion average estimate based on six analysts. The reported number represents a change of +8.2% year over year.
Net sales- Components: $3.19 billion versus the five-analyst average estimate of $3.19 billion. The reported number represents a year-over-year change of +3.1%.
Net sales- Engine- Medium-duty Truck and Bus: $894 million versus the five-analyst average estimate of $901.11 million. The reported number represents a year-over-year change of +2.9%.
Net sales- Engine- Off-highway: $410 million versus $455.15 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -15.5% change.
Net sales- Engine- Heavy-duty Truck: $1.05 billion versus $967.08 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
Net sales- Engine- Light-duty Automotive: $423 million versus $329.26 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +33% change.
Net sales- Distribution: $2.71 billion compared to the $2.53 billion average estimate based on five analysts. The reported number represents a change of +16.9% year over year.
Net sales- Components- Emission Solutions: $922 million compared to the $893.08 million average estimate based on three analysts. The reported number represents a change of +6.2% year over year.
Net sales- Components- Filtration (Atmus Filtration): $399 million versus the three-analyst average estimate of $400.01 million. The reported number represents a year-over-year change of +3.6%.
View all Key Company Metrics for Cummins here>>>
Shares of Cummins have remained unchanged over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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