Cummins reports record Q1 revenue $8.5B, EPS $5.55, raises FY2023 guide

CUMMINS INC

2023-Q1 EPS reported $5.55 revenue$8,453,000,000

Record Q1 revenue $8.5B (+32% YoY); GAAP net income $790M; diluted EPS $5.55 vs $2.92.
EBITDA $1.4B (16.1% of sales) vs $755M (11.8%) a year ago.
2023 revenue guidance raised to +15-20% (from +12-17%); EBITDA guidance raised to 15.0-15.7% (from 14.5-15.2%).
Components segment revenue $3.6B (+79% YoY) driven by Meritor acquisition and strong demand.
Accelera revenue $85M (+174%); EBITDA loss $94M reflecting investments in zero-emission tech.

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 0.95

CUMMINS INC reported the first quarter of 2023 results: revenue $8.5 billion, net income $790 million, EPS $5.55 per diluted share. Guidance raised.

Period: the first quarter of 2023
Revenue: $8.5 billion
Net income: $790 million
EPS: $5.55 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

under the Securities Act of 1933 or the Exchange Act. --- EX-99 (EX-99) --- May 2, 2023 Cummins Reports Record First Quarter 2023 Results • Record first quarter revenues of $8.5 billion; Record GAAP 1 Net Income of $790 million • EBITDA in the first quarter was 16.1 percent of sales; Record Diluted EPS of $5.55 • First quarter results include $18 million, or

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Source: SEC EDGAR

accession 0000026172-23-000013

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