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Cummins (CMI) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2024, Cummins (CMI - Free Report) reported revenue of $8.46 billion, up 0.3% over the same period last year. EPS came in at $5.60, compared to $4.73 in the year-ago quarter.
The reported revenue represents a surprise of +2.18% over the Zacks Consensus Estimate of $8.28 billion. With the consensus EPS estimate being $4.89, the EPS surprise was +14.52%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $1.69 billion versus the six-analyst average estimate of $1.56 billion. The reported number represents a year-over-year change of +16.8%.
Net Sales- Intersegment Eliminations: -$1.93 billion versus the six-analyst average estimate of -$1.87 billion. The reported number represents a year-over-year change of +6.2%.
Net Sales- Engine: $2.91 billion versus the six-analyst average estimate of $2.94 billion. The reported number represents a year-over-year change of -0.6%.
Net Sales- Components: $2.72 billion compared to the $2.84 billion average estimate based on six analysts. The reported number represents a change of -15.8% year over year.
Net Sales- Accelera: $110 million versus the six-analyst average estimate of $125.42 million. The reported number represents a year-over-year change of +6.8%.
Net Sales- Distribution: $2.95 billion versus $2.73 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +16.5% change.
Net Sales- Engine- Off-highway: $424 million versus $423.52 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
Net Sales- Engine- Medium-duty truck and bus: $1.07 billion versus $1.01 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +15.3% change.
Net Sales- Engine- Heavy-duty truck: $1.02 billion compared to the $1.05 billion average estimate based on five analysts. The reported number represents a change of -8.5% year over year.
Net Sales- Engine- Light-duty automotive: $395 million versus $459.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -13.2% change.
Net Sales- Components- Emission solutions: $864 million versus the three-analyst average estimate of $897.74 million. The reported number represents a year-over-year change of -3.3%.
Distribution segment sales by product- Service: $455 million compared to the $431.60 million average estimate based on three analysts. The reported number represents a change of +7.6% year over year.
Shares of Cummins have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.5% 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) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2024, Cummins (CMI - Free Report) reported revenue of $8.46 billion, up 0.3% over the same period last year. EPS came in at $5.60, compared to $4.73 in the year-ago quarter.
The reported revenue represents a surprise of +2.18% over the Zacks Consensus Estimate of $8.28 billion. With the consensus EPS estimate being $4.89, the EPS surprise was +14.52%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $1.69 billion versus the six-analyst average estimate of $1.56 billion. The reported number represents a year-over-year change of +16.8%.
- Net Sales- Intersegment Eliminations: -$1.93 billion versus the six-analyst average estimate of -$1.87 billion. The reported number represents a year-over-year change of +6.2%.
- Net Sales- Engine: $2.91 billion versus the six-analyst average estimate of $2.94 billion. The reported number represents a year-over-year change of -0.6%.
- Net Sales- Components: $2.72 billion compared to the $2.84 billion average estimate based on six analysts. The reported number represents a change of -15.8% year over year.
- Net Sales- Accelera: $110 million versus the six-analyst average estimate of $125.42 million. The reported number represents a year-over-year change of +6.8%.
- Net Sales- Distribution: $2.95 billion versus $2.73 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +16.5% change.
- Net Sales- Engine- Off-highway: $424 million versus $423.52 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.
- Net Sales- Engine- Medium-duty truck and bus: $1.07 billion versus $1.01 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +15.3% change.
- Net Sales- Engine- Heavy-duty truck: $1.02 billion compared to the $1.05 billion average estimate based on five analysts. The reported number represents a change of -8.5% year over year.
- Net Sales- Engine- Light-duty automotive: $395 million versus $459.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -13.2% change.
- Net Sales- Components- Emission solutions: $864 million versus the three-analyst average estimate of $897.74 million. The reported number represents a year-over-year change of -3.3%.
- Distribution segment sales by product- Service: $455 million compared to the $431.60 million average estimate based on three analysts. The reported number represents a change of +7.6% year over year.
View all Key Company Metrics for Cummins here>>>Shares of Cummins have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.5% 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.