Cummins Q4 net loss $1.4B on $2.04B regulatory charge; full year revenue record $34.1B

CUMMINS INC

2023-FY EPS reported $5.15 revenue$34,065,000,000

Q4 revenues $8.5B (+10% YoY); GAAP diluted EPS $(10.01) vs $4.43 a year ago.
$2.04B charge ($13.76/diluted share) for agreement to resolve U.S. regulatory claims recognized in Q4.
Full year 2023 revenue $34.1B (+21% YoY); diluted EPS $5.15 vs $15.12.
2024 guidance: revenues expected to decline 2%-5%; EBITDA margin target 14.4%-15.4%.
Record operating cash flow of $4.0B in 2023; dividend increased for 14th consecutive year.

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 full year 2023 results: revenue $34.1 billion, net income Net Income of $735 million, EPS $5.15 per diluted share. Guidance reaffirmed.

Period: full year 2023
Revenue: $34.1 billion
Net income: Net Income of $735 million
EPS: $5.15 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of voluntary retirement and separation programs ◦ $33 million, or $0.17 per diluted share, of costs related to the separation of Atmus • Full year 2023 revenues of $34.1 billion; GAAP 1 Net Income of $735 million • EBITDA for full year 2023 was 8.9% of sales; Diluted EPS of $5.15 • Full year 2024 revenues expected to decline between 2% and 5%; EBITDA

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CUMMINS INC reported fourth quarter of 2023 results: revenue $8.5 billion, net income Net loss of $1.4 billion, EPS $(10.01) per diluted share. Guidance reaffirmed.

Period: fourth quarter of 2023
Revenue: $8.5 billion
Net income: Net loss of $1.4 billion
EPS: $(10.01) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Securities Act of 1933 or the Exchange Act. --- EX-99 (EX-99) --- February 6, 2024 Cummins Reports Fourth Quarter and Full Year 2023 Results • Fourth quarter 2023 revenues of $8.5 billion; GAAP 1 Net Loss of $1.4 billion • Fourth quarter 2023 EBITDA was negative 10.3% of sales; Diluted EPS of $(10.01) • The results for the fourth quarter 2023 reflect: ◦ $2.04

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Source: SEC EDGAR

accession 0000026172-24-000003

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