Cummins falls after 2025 financial forecast withdrawal

Cummins

05/05/2025 13:42

** Shares of U.S. truck engine maker Cummins CMI.N fall 1% to $297 premarket

** Co withdraws 2025 forecast as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump's sweeping import tariffs

** Co posts Q1 net income of $824 mln, or $5.96/share, compared to $2 bln, or $14.03 apiece last year

** CMI posts Q1 net sales of $8.17 bln, slightly below the estimate of $8.19 bln, according to data compiled by LSEG

** 8 of 24 brokerages rate the stock "buy" or higher, 15 "hold" and 1 "sell"; their median PT is $331.50 - LSEG

** As of last close, stock had fallen 14% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))