Nov 5, 06:37 PM

Cummins Reports Strong Q3 Earnings, Stock Surges 8.58% on $5.86 EPS and $8.56B Revenue

Cummins Inc. (CMI) reported strong Q3 2024 financial results, significantly surpassing market expectations. The company achieved an EPS of $5.86, exceeding the estimated $4.79, and generated revenue of $8.56 billion, higher than the forecasted $8.29 billion. This performance was driven by robust demand for power products from data centers. Following the earnings announcement, Cummins' stock surged approximately 8.58% to $353.57, reaching a 52-week high of $356.68. The company also updated its full-year EBITDA guidance to 15.5%, in line with previous estimates of 15% to 15.5%. Additionally, the GAAP EPS of $5.86 beat the consensus forecast by $1.02.

#CMI #Cummins

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