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Cummins (CMI) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Cummins (CMI - Free Report) reported revenue of $8.4 billion, down 0.6% over the same period last year. EPS came in at $5.10, compared to $5.55 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.36 billion, representing a surprise of +0.55%. The company delivered an EPS surprise of -0.20%, with the consensus EPS estimate being $5.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cummins performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Power System: $1.39 billion compared to the $1.37 billion average estimate based on six analysts. The reported number represents a change of +3.4% year over year.
Net Sales- Engine: $2.93 billion versus $2.86 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.9% change.
Net Sales- Components: $3.33 billion versus the six-analyst average estimate of $3.42 billion. The reported number represents a year-over-year change of -6.3%.
Net Sales- Accelera: $93 million versus the five-analyst average estimate of $112.04 million. The reported number represents a year-over-year change of +9.4%.
Net Sales- Engine- Medium-duty Truck and Bus: $995 million compared to the $900.01 million average estimate based on five analysts. The reported number represents a change of +10.2% year over year.
Net Sales- Eliminations: -$1.87 billion compared to the -$1.92 billion average estimate based on five analysts. The reported number represents a change of -2.6% year over year.
Net Sales- Engine- Off-highway: $436 million versus the five-analyst average estimate of $490.52 million. The reported number represents a year-over-year change of -17.7%.
Net Sales- Engine- Heavy-duty Truck: $1.06 billion versus the five-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of -4.9%.
Net Sales- Engine- Light-duty Automotive: $438 million compared to the $438.11 million average estimate based on five analysts. The reported number represents a change of -0.2% year over year.
Net Sales- Distribution: $2.54 billion versus the five-analyst average estimate of $2.49 billion. The reported number represents a year-over-year change of +5.4%.
Net Sales- Components- Emission Solutions: $971 million versus $1.03 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -8.1% change.
Net Sales- Components- Filtration (Atmus Filtration): $353 million versus $413.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15.4% change.
Shares of Cummins have returned -3.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cummins (CMI) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Cummins (CMI - Free Report) reported revenue of $8.4 billion, down 0.6% over the same period last year. EPS came in at $5.10, compared to $5.55 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.36 billion, representing a surprise of +0.55%. The company delivered an EPS surprise of -0.20%, with the consensus EPS estimate being $5.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cummins performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Power System: $1.39 billion compared to the $1.37 billion average estimate based on six analysts. The reported number represents a change of +3.4% year over year.
- Net Sales- Engine: $2.93 billion versus $2.86 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.9% change.
- Net Sales- Components: $3.33 billion versus the six-analyst average estimate of $3.42 billion. The reported number represents a year-over-year change of -6.3%.
- Net Sales- Accelera: $93 million versus the five-analyst average estimate of $112.04 million. The reported number represents a year-over-year change of +9.4%.
- Net Sales- Engine- Medium-duty Truck and Bus: $995 million compared to the $900.01 million average estimate based on five analysts. The reported number represents a change of +10.2% year over year.
- Net Sales- Eliminations: -$1.87 billion compared to the -$1.92 billion average estimate based on five analysts. The reported number represents a change of -2.6% year over year.
- Net Sales- Engine- Off-highway: $436 million versus the five-analyst average estimate of $490.52 million. The reported number represents a year-over-year change of -17.7%.
- Net Sales- Engine- Heavy-duty Truck: $1.06 billion versus the five-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of -4.9%.
- Net Sales- Engine- Light-duty Automotive: $438 million compared to the $438.11 million average estimate based on five analysts. The reported number represents a change of -0.2% year over year.
- Net Sales- Distribution: $2.54 billion versus the five-analyst average estimate of $2.49 billion. The reported number represents a year-over-year change of +5.4%.
- Net Sales- Components- Emission Solutions: $971 million versus $1.03 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -8.1% change.
- Net Sales- Components- Filtration (Atmus Filtration): $353 million versus $413.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15.4% change.
View all Key Company Metrics for Cummins here>>>Shares of Cummins have returned -3.7% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.