Cummins Q2 revenue $8.6B (+31% YoY), EPS $5.05, raises quarterly dividend to $1.68/share

CUMMINS INC

2023-Q2 EPS reported $10.60 revenue$17,091,000,000

Record Q2 revenues $8.6B, up 31% YoY; GAAP net income $720M, diluted EPS $5.05.
EBITDA margin 15.1% of sales; maintains FY2023 guidance of revenue up 15-20%, EBITDA 15.0-15.7%.
Quarterly dividend increased 7% to $1.68/share from $1.57; 14 consecutive years of increases.
Components segment sales $3.4B (+76%) from Meritor addition; Engine segment sales $3.0B (+8%).
Accelera revenue $85M (+102%) but EBITDA loss -$114M on investments in zero-emissions 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 second quarter of 2023 results: revenue $8.6 billion, net income $720 million, EPS $5.05 per diluted share. Guidance reaffirmed.

Period: the second quarter of 2023
Revenue: $8.6 billion
Net income: $720 million
EPS: $5.05 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Cummins Inc. (NYSE: CMI) today reported results for the second quarter of 2023. Second quarter revenues of $8.6 billion increased 31 percent from the same quarter in 2022.

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Source: SEC EDGAR

accession 0000026172-23-000032

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