Cummins reports record full-year 2022 revenue $28.1B, EPS $15.12; guides 2023 rev up 12-17%

CUMMINS INC

2022-FY EPS reported $15.12 revenue$28,074,000,000

Q4 revenue $7.8B, net income $631M, diluted EPS $4.43; includes $0.36 favorable discrete tax items.
Full-year revenue $28.1B (record), net income $2.2B, diluted EPS $15.12; EBITDA margin 13.5%.
Excluding Meritor, Q4 revenue $6.6B (+13% YoY); adjusted EBITDA margin 16.1% (exceeded guidance).
2023 guidance: revenue up 12-17%, EBITDA margin 14.5-15.2%; Meritor projected revenue $4.5-4.7B.
Completed acquisitions of Meritor, JVS, and Siemens Commercial Vehicles; Jennifer Rumsey became CEO in Aug 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMMINS INC updated its full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Cummins projects full year 2023 revenues to be up 12 to 17 percent, and EBITDA to be in the range of 14.5 and 15.2 percent of sales.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMMINS INC reported fourth quarter of 2022 results: revenue $7.8 billion, net income $631 million, EPS $4.43.

Period: fourth quarter of 2022
Revenue: $7.8 billion
Net income: $631 million
EPS: $4.43
Result: reported results

Exact text from the filing

Fourth quarter revenues of $7.8 billion; GAAP 1 Net Income of $631 million • EBITDA in the fourth quarter was 14.2 percent of sales; Diluted EPS of $4.43

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMMINS INC reported full year 2022 results: revenue $28.1 billion, net income $2.2 billion, EPS $15.12.

Period: full year 2022
Revenue: $28.1 billion
Net income: $2.2 billion
EPS: $15.12
Result: reported results

Exact text from the filing

Full year revenues of $28.1 billion; GAAP 1 Net Income of $2.2 billion • EBITDA for the full year was 13.5 percent of sales; Diluted EPS of $15.12

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Source: SEC EDGAR

accession 0000026172-23-000002

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