Cummins Inc reports results for the quarter ended in September - Earnings Summary

Cummins

02/11/2023 13:34

* Cummins Inc  CMI.N  reported quarterly adjusted earnings
of
$4.59​​ per share for the quarter ended in September, higher
than the same quarter last year, when the company reported EPS
of $2.82.  The mean expectation of eighteen analysts for the
quarter was for earnings of $4.68 per share. Wall Street
expected results to range from $4.38  to $4.99 per share.
    * Revenue rose 15% to $8.43 billion from a year ago;
analysts
expected $8.19 billion. 
    * Cummins Inc's reported EPS for the quarter was $4.59​.
    * The company reported quarterly net income of $656 million.
    * Cummins Inc shares had fallen by 4.6% this quarter and
lost 10.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 13
"hold" and 1 "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Cummins Inc
is
$255.00 

This summary was machine generated from LSEG data November 2 at
01:34 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      4.68           4.59           Missed
 Jun. 30 2023      5.29           5.05           Missed
 Mar. 31 2023      4.75           5.55           Beat
 Dec. 31 2022      4.50           4.43           Missed