Cummins Q1 revenue $6.4B (+5% YoY), EPS $2.92; raises FY guidance to +8% sales

CUMMINS INC

2022-Q1 EPS reported $2.92 revenue$6,385,000,000

Revenue $6.4B (+5% YoY), GAAP net income $418M, diluted EPS $2.92 (vs $4.07 last year).
EBITDA $755M (11.8% of sales) vs $980M (16.1%) last year; includes $158M Russia suspension charge.
Raises FY2022 revenue guidance to up 8% (from up 6%); maintains EBITDA guidance ~15.5%.
Announces acquisitions: Jacobs Vehicle Systems and intent to acquire Meritor to advance decarbonization.
Engine segment revenue up 12% to $2.8B; Components down 8% due to China/India slowdown.

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