Cummins (NYSE:CMI) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Posted by Francis Steltz on Nov 7th, 2026

Cummins (NYSE:CMI – Get Free Report) posted its earnings results on Thursday. The company reported $8.25 earnings per share for the quarter, beating the consensus estimate of $8.20 by $0.05, FiscalAI reports. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.89 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. Cummins’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted $5.59 earnings per share.

Here are the key takeaways from Cummins’ conference call:

Cummins reported Q3 revenue of $9.4 billion, up 13%, and record EBITDA of $1.8 billion, or 18.9% of sales. Excluding prior-year Accelera charges, EBITDA margin rose about 170 basis points, primarily on higher volumes.
Power generation demand—especially from data centers—remained exceptionally strong, with order intake exceeding expectations and demand increasingly broad across North America, China, and Asia-Pacific. Supply constraints delayed some Q3 shipments, but the company expects to recover most of them in Q4 and is expanding capacity.
Cummins revised its 2026 revenue-growth outlook to approximately 10%, the low end of its prior 10%–13% range, mainly due to weaker North American pickup-truck demand. The company also lowered its medium-duty and pickup engine market forecasts; its approximately 18.2% EBITDA-margin outlook remains within the previous range.
Cummins subsidiaries issued a stop-use recommendation for HyLYZER electrolyzer products after reviewing operating data. No recall has been initiated, but the company is evaluating possible modifications, and the potential financial impact is not included in its guidance.
The company returned $661 million to shareholders in Q3 through repurchases and dividends, and said it remains on track to return approximately 50% of operating cash flow to shareholders for 2026.

Cummins Price Performance

Shares of Cummins stock traded up $1.98 during trading hours on Friday, reaching $450.56. The company’s stock had a trading volume of 2,167,833 shares, compared to its average volume of 1,134,200. The firm has a 50 day moving average price of $526.45 and a 200-day moving average price of $599.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The stock has a market cap of $62.02 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.32 and a beta of 1.26. Cummins has a one year low of $443.62 and a one year high of $737.76.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be issued a $2.20 dividend. The ex-dividend date is Friday, November 20th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.0%. Cummins’s payout ratio is 44.97%.

Wall Street Analyst Weigh In

CMI has been the subject of several research reports. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. DA Davidson raised their price objective on Cummins from $605.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group reduced their target price on Cummins from $835.00 to $741.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Bank of America decreased their target price on Cummins from $731.00 to $600.00 in a research report on Thursday, September 24th. Finally, JPMorgan Chase & Co. dropped their price target on Cummins from $690.00 to $600.00 and set a “neutral” rating for the company in a research note on Wednesday, September 23rd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $674.53.

Check Out Our Latest Report on CMI

Key Headlines Impacting Cummins

Here are the key news stories impacting Cummins this week:

Positive Sentiment: Third-quarter EPS of $8.25 edged past the $8.20 consensus, and revenue rose 13.5% year over year to $9.44 billion. The company also pointed to strong data-center demand, recovering shipments and capacity expansion as growth supports. Cummins Q3 Earnings Call Highlights Power Demand and Truck Weakness
Neutral Sentiment: Citigroup, Truist Financial and Wells Fargo cut their price targets, but maintained buy or overweight ratings. Their revised targets still imply upside from the quoted share price, tempering—but not erasing—the signal from the reductions. Citigroup recommendations Truist Financial recommendations Wells Fargo recommendations
Negative Sentiment: Cummins lowered its FY2026 revenue guidance to $37.0 billion, below the roughly $37.7 billion consensus, citing pickup-truck weakness. Third-quarter revenue also fell short of analyst expectations, raising concern that softer vehicle demand could offset strength in data-center-related business. Cummins Q3 profit more than doubles; cuts FY26 revenue outlook

Insider Activity at Cummins

In related news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Cummins Company Profile

(Get Free Report)

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.