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Jun 30, 2024
Cummins Q2 2024 Earnings Report
Cummins achieved record quarterly sales and solid profitability, driven by significant improvement in the Power Systems business.
Key Takeaways
Cummins reported record second quarter revenues of $8.8 billion and GAAP net income of $726 million. The company is raising its full-year 2024 revenue guidance to be down 3% to flat and expects EBITDA to be in the range of 15.0% to 15.5%.
Record second quarter revenues of $8.8 billion were achieved.
GAAP Net Income was $726 million.
EBITDA in the second quarter was 15.3% of sales.
Full year revenues are expected to range from down 3% to flat, an improvement from prior guidance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cummins is raising its full-year 2024 revenue guidance to be down 3% to flat, and expects EBITDA to be in the range of 15.0% to 15.5%.
Positive Outlook
- Stronger than expected demand across several markets.
- Strong demand in North America on-highway.
- Strong demand in power generation.
- Continued demand for Cummins’ products and services.
- Company is in a strong position to keep investing in future growth.
Challenges Ahead
- Still expect slowing demand in the North America heavy-duty truck market in the second half of the year.
- Any adverse consequences resulting from entering into the Settlement Agreements.
- Increased scrutiny from regulatory agencies.
- Unpredictability in the adoption, implementation and enforcement of emission standards around the world.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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