Cummins (CMI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Cummins reported $8.8 billion in revenue for Q2 2024, a year-over-year increase of 1.8% and an EPS of $5.26, up from $5.18 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1] Revenue Performance - Net Sales- Eliminations: Reported at -$1.87 billion, slightly better than the average estimate of -$1.88 billion, representing a year-over-year change of -2.4% [3] - Net Sales- Power System: $1.59 billion, exceeding the average estimate of $1.49 billion, with a year-over-year increase of +9.1% [4] - Net Sales- Components: $2.98 billion, slightly above the average estimate of $2.95 billion, but a year-over-year decline of -12.9% [5] - Net Sales- Distribution: $2.83 billion, surpassing the average estimate of $2.68 billion, reflecting a year-over-year increase of +9% [6] - Net Sales- Engine: $3.15 billion, exceeding the average estimate of $2.93 billion, with a year-over-year increase of +5.5% [7] Segment Performance - Net Sales- Accelera: $111 million, below the average estimate of $118.18 million [8] - Net Sales- Engine- Off-highway: $432 million, below the average estimate of $472.43 million, representing a year-over-year decline of -10.7% [9] - Net Sales- Engine- Light-duty Automotive: $461 million, slightly above the average estimate of $449.45 million, with a year-over-year increase of +3.6% [9] - Net Sales- Engine- Medium-duty Truck and Bus: $1.07 billion, exceeding the average estimate of $964.59 million, with a year-over-year increase of +14% [10] - Net Sales- Engine- Heavy-duty Truck: $1.18 billion, above the average estimate of $1.09 billion, with a year-over-year increase of +6% [11] - Net Sales- Power System- Power generation: $987 million, exceeding the average estimate of $935.22 million, with a year-over-year increase of +15.6% [12] - Net Sales- Components- Emission Solutions: $941 million, below the average estimate of $960.52 million, with a year-over-year decline of -2.4% [13] Stock Performance - Cummins shares have returned +7.3% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change, with a current Zacks Rank 3 (Hold) indicating potential performance in line with the broader market [13]