Cummins Inc. (NYSE:CMI) is a leading designer, manufacturer and distributor of diesel and natural gas engines and engine-related component products.
Earnings
In the fourth-quarter, Cummins reported adjusted earnings of $3.03 per share, beating the Zacks Consensus Estimate of $2.65. The earnings per share in the year-ago quarter were $2.25.
Revenues
Cummins reported net revenue of $5.48 billion, higher than $4.5 billion recorded in the year-ago quarter. Also, the figure surpassed the Zacks Consensus Estimate of $5.2 billion.
Cummins Inc. Price and EPS Surprise
Estimate Trend & Surprise History
Investors should note that stock has witnessed an upward trend in the Zacks Consensus Estimate for the fourth-quarter earnings over the last 30 days.
In the trailing four quarters, the company delivered earnings surprises thrice and missed once, leading to an average beat of around 12.4%.
Key Stats/Developments to Note
For 2018, Cummins anticipates revenues to grow by 4-8%, compared to the prior guidance of 14-15% growth in revenues. EBIT is expected in the range of 15.8-16.2%, an increase from the previous guidance range of 11.8-12.2%.
Zacks Rank
Cummins holds a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Cummins’ earnings report!
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Cummins Inc. (CMI): Free Stock Analysis Report
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