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Cummins: Q3 Earnings Insights

Benzinga Insights
·1 min read

 

Shares of Cummins (NYSE:CMI) rose 3.3% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 12.27% year over year to $3.36, which beat the estimate of $2.35.

Revenue of $5,118,000,000 decreased by 11.27% from the same period last year, which beat the estimate of $4,460,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

View more earnings on CMI

Cummins hasn't issued any revenue guidance for the time being.

Recent Stock Performance

52-week high: $227.51

Company's 52-week low was at $101.03

Price action over last quarter: Up 14.64%

Company Overview

Cummins is a leading manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, along with diesel-powered electric generators. The firm's revenue historically has been tied to the class 8 truck market, where, as the industry leader, it currently supplies 35% of engines. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers who make and aggressively market their own engines. Despite robust competition across all its segments and ever-increasing government regulation of diesel emissions in the past three decades, Cummins has been able to grow its revenue sevenfold, to $23.6 billion in 2019. Cummins is headquartered in Columbus, Indiana, where it was founded in 1919.

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