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Recap: Cummins Q1 Earnings

Shares of Cummins (NYSE:CMI) gained 8% after the company reported Q1 results.

Quarterly Results

Earnings per share fell 24.29% year over year to $3.18, which beat the estimate of $2.16.

Revenue of $5,011,000,000 lower by 16.54% from the same period last year, which beat the estimate of $4,880,000,000.

Looking Ahead

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

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

Conference Call Details

Date: Apr 28, 2020

View more earnings on CMI

Time: 10:04 AM ET

Webcast URL: https://edge.media-server.com/mmc/p/rm9pu43w

Technicals

Company's 52-week high was at $186.72

52-week low: $101.03

Price action over last quarter: down 2.08%

Company Description

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 38% 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 $23.7 billion in 2018. Cummins is headquartered in Columbus, Indiana, where it was founded in 1919.

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