secwatch.observer — SEC 8-K summary
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Issuer:     CUMMINS INC (CMI)
CIK:        0000026172
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000026172-24-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cummins Q1 revenue $8.4B, diluted EPS $14.03 (incl $9.08 Atmus gain); raises FY EBITDA guidance to 14.5%-15.5%
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- Revenue $8.4B, down 1% YoY; GAAP net income $2.0B, diluted EPS $14.03 vs $5.55 in Q1 2023.
- Net gain of $1.3B ($9.08/diluted share) from Atmus separation; restructuring costs $29M ($0.15/share).
- FY 2024 revenue guidance unchanged at down 2%-5% (ex-Atmus); EBITDA guidance raised to 14.5%-15.5% from 14.4%-15.4%.
- Components sales $3.3B (-6%), Engine $2.9B (-2%), Distribution $2.5B (+5%), Power Systems $1.4B (+3%), Accelera $93M (+9%) with EBITDA loss $101M.
- Atmus separation completed in March via share exchange; no retained shares. Demand strong, but expects slowing in H2 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26172/000002617224000019/0000026172-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26172/000002617224000019/cmi-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000026172-24-000019

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