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Sep 30, 2024
Cummins Q3 2024 Earnings Report
Cummins demonstrated strong sales and profitability driven by improvements in the Power Systems and Distribution businesses.
Key Takeaways
Cummins reported strong third-quarter results with revenues of $8.5 billion and net income of $809 million. The company is maintaining its full-year revenue guidance and has adjusted its EBITDA projection to the top end of the previous range.
Third quarter revenues were $8.5 billion.
GAAP Net Income was $809 million, or 9.6% of sales.
EBITDA in the third quarter was 16.4% of sales.
Diluted EPS was $5.86.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cummins is maintaining its full-year 2024 revenue guidance to be in the range of down 3% to flat. EBITDA is expected to be approximately 15.5%, at the top end of the previous guidance of 15.0% to 15.5%.
Positive Outlook
- Maintaining full-year 2024 revenue guidance.
- EBITDA expected to be approximately 15.5%.
- Focus on reinvesting for profitable growth.
- Focus on dividends.
- Focus on reducing debt.
Challenges Ahead
- Slowing demand in the North American heavy-duty truck market.
- Anticipate this trend to persist into the fourth quarter.
- Unspecified risks detailed in SEC filings.
- Potential legal actions.
- Increased scrutiny from regulatory agencies.
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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