Market Overview

Cummins: Q2 Earnings Insights

Share:

Shares of Cummins (NYSE:CMI) rose 6% after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 56.44% over the past year to $1.86, which may not compare to the estimate of $0.91.

Revenue of $3,852,000,000 declined by 38.08% year over year, which beat the estimate of $3,690,000,000.

Guidance

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

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

Conference Call Details

Date: Jul 28, 2020

Time: 10:00 AM

ET Webcast URL: https://78449.themediaframe.com/dataconf/productusers/cms/mediaframe/39259/indexl.html

Technicals

52-week high: $192.31

52-week low: $101.03

Price action over last quarter: Up 15.67%

Company Profile

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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Posted-In: Earnings News