Cummins Q1 2020 Earnings Report
Key Takeaways
Cummins Inc. reported a decrease in first-quarter revenue by 17% to $5.0 billion compared to the same quarter in 2019. The decrease was attributed to lower truck production in North America and weaker demand in global construction, mining, and power generation markets. Net income attributable to Cummins was $511 million ($3.41 per diluted share), compared to $663 million ($4.20 per diluted share) in 2019.
First quarter revenues decreased by 17 percent from the same quarter in 2019, totaling $5.0 billion.
Net income attributable to Cummins in the first quarter was $511 million ($3.41 per diluted share).
EBITDA in the first quarter was $846 million (16.9 percent of sales).
The company completed restructuring actions in the quarter that will yield annual cost savings of $250 to $300 million in 2020.
Cummins
Cummins
Cummins Revenue by Segment
Forward Guidance
Due to uncertainty related to the coronavirus pandemic, the company is not providing revenue or profitability guidance for 2020. The company does expect a significant impact to its second quarter results due to disruptions across customer and supplier operations and lower end market demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income