Cummins (CMI) Q1 Earnings Miss, Fall Y/Y, Sales Top Estimates

Cummins Inc. (CMI) reported first-quarter 2024 earnings of $5.10 per share, which declined from$5.55 per share recorded in the corresponding quarter of 2023. The bottom line also missed the Zacks Consensus Estimate of $5.11 per share. Cummins’ revenues totaled$8.40 billion, compared with $8.45 billion recorded in the year-ago quarter. The top line beat the Zacks Consensus Estimate of$8.35 billion.Key TakeawaysIn the reported quarter, sales in the Engine segment were down 2% year over year to $2.9 billion ...