Friday, 3 November 2023

CMI Earnings: A snapshot of Cummins’ Q3 2023 results

by Rose White

Cummins Inc. (NYSE: CMI), a leading provider of power solutions, reported higher net sales and earnings for the third quarter of 2023. The management raised its full-year guidance.

CMI Earnings: A snapshot of Cummins’ Q3 2023 results

CMI Earnings: A snapshot of Cummins’ Q3 2023 results

September quarter sales increased to $8.43 billion from $7.33 billion in the corresponding period of 2022. Net income attributable to the company was $656 million or $4.59 per share, compared to $400 million or $2.82 per share in the prior-year quarter.

The company said it is raising its full-year 2023 guidance — now expects revenue to be up 18-21% and EBITDA to be 15.2 to 15.4% of total sales.

Prior Performance

The post CMI Earnings: A snapshot of Cummins’ Q3 2023 results first appeared on AlphaStreet.

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