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Cummins (CMI) Q1 Earnings & Revenues Surpass Estimates

Zacks Equity Research
Updated

Cummins Inc. CMI is a leading designer, manufacturer and distributor of diesel and natural gas engines and engine-related component products.

Earnings

In the first-quarter, Cummins reported adjusted earnings of $3.30 per share, beating the Zacks Consensus Estimate of $2.91.

Revenues

Cummins reported net revenue of $5.57 billion, higher than $4.59 billion recorded in the year-ago quarter. Also, the figure surpassed the Zacks Consensus Estimate of $5.17 billion.

Estimate Trend & Surprise History

Investors should note that stock has witnessed an upward trend in the Zacks Consensus Estimate for the first-quarter earnings over the last 30 days.

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In the trailing four quarters, the company delivered earnings surprises thrice and missed once, leading to an average beat of around 13.1%.

Cummins Inc. Price and EPS Surprise

Cummins Inc. Price and EPS Surprise | Cummins Inc. Quote

Key Stats/Developments to Note

For 2018, Cummins anticipates revenues to grow 10-14% compared with the prior outlook 4-8% rise in revenues. EBIT is expected in the range of 15.4-15.8%, a decline from the previous projection of 15.8-16.2%.

Zacks Rank

Cummins holds a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Cummins’ earnings report!

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Zacks Investment Research