In the latest market close, Cummins (CMI) reached $229.21, with a -1.71% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. Meanwhile, the Dow experienced a rise of 1.06%, and the technology-dominated Nasdaq saw an increase of 1.7%.Prior to today's trading, shares of the engine maker had lost 4.43% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 6.49% and lagged the S&P 500's gain of 0.94% in that t ...

Shares of diesel engine leader Cummins fell Friday after a downgrade to Sell. ...

2023 Guidance 1 2022 excludes $55 million of net cost related to the indefinite suspension of operations in Russia Distribution Segment - Joint Venture Sales Unconsolidated $1,500 Q3 2023 LTM Revenue $1,322 Third Quarter 2023 Earnings Teleconference November 2, 2023 CONTENTS Q3 2023 Summary 2023 Guidance 39 Power Systems Segment - Overview Q3 2023 LTM Results • Third quarter revenues of $8.4 billion Q3 2023 Supplemental Information Appendix 2 Disclosure Regarding Forward-Looking Statements Information provi ...

Jennifer Rumsey - Chair & Chief Executive Officer Rob Wertheimer - Melius Research Operator More information regarding such risks and uncertainties is available in the forward-looking disclosure statements in the slide deck and our filings with the Securities and Exchange Commission, particularly the Risk Factors section of our most recently filed Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. Company Participants Jerry Revich - Goldman Sachs Steven Fisher - UBS Chris ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|------------------------------------|-----------------------|-------|-------|-------------------|-------|-------|-------|-------------------------------------------------|-------|-------------------| | In millions \nEquity securities | | Cost | September \nGross gains/(losses) | 30, 2023 \nunrealized | | fair | Estimated value | | Cost | Gross | December 31, 2022 \nu ...

In 2023, we project revenues for the engine business will increase 2% to 7% and EBITDA expected to be in the range of 13.8% to 14.5%, unchanged from our prior year guidance. In the Distribution segment, revenues increased 15% from a year ago to a record $2.6 billion. EBITDA increased as a percent of sales to 11.5% compared to 11.2% a year ago. We now expect 2023 distribution revenues to be up 10% to 15% and EBITDA in In 2023, we anticipate revenues to be in the range of $350 million to $400 million, unchang ...

2023 Earnings CONTENTS Q2 2023 Supplemental Information Disclosure Regarding Forward-Looking Statements Q2 2023 Summary • EBITDA of $1,304 million or 15.1 percent of sales ◦ EBITDA of $1,327 million or 15.4 percent of sales excluding $23 million of cost related to the separation of the Filtration business 4 5 Net Sales 3,425 2,988 2,595 1,457 85 (1,912) 8,638 1 2 | --- | --- | --- | --- | --- | --- | --- | |------------|--------|--------------|-----------------|----------|----------------------------|------ ...

During the second quarter of 2023, we finalized our accounting for the Meritor, Inc. acquisition. The primary components of the change were to increase contingent liabilities by $62 million offset by finalization of deferred taxes and tax reserves, with a net increase to goodwill of $26 million. There was no impact to the Condensed Consolidated Statements of Net Income for any of the changes. Operating segments under GAAP are defined as components of an enterprise about which separate financial information ...

Cummins Inc. (NYSE:CMI) Deutsch Bank 14th Annual Global Industrials & Materials Summit Conference Transcript June 7, 2023 2:00 PM ET Executives Tony Satterthwaite - Vice Chairman Chris Clulow - Head, Investor Relations Analysts Nicole DeBlase - Deutsche Bank Nicole DeBlase Okay. I think we are live again. So for those of you that don’t know me or haven’t been in all the sessions today, I am Nicole DeBlase. I cover multi-industry electrical equipment, as well as machinery at DB. Next up on the presentation s ...

Conference Call Participants Chris Clulow During the course of this call, we will be discussing certain non-GAAP financial measures, and we will refer you to our website for the reconciliation of those measures to GAAP financial measures. Our press release with a copy of the financial statements and a copy of todayÂ's webcast presentations are available on our website within the Investor Relations section at cummins.com. Before getting into the details on our performance, I want to take a moment to highligh ...