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Cummins CMI Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$8.4BBeat by $31.7M
EPS$6.15Beat by $0.52
Revenue estimate$8.4B
EPS estimate$5.63
“Cummins delivered strong results in the first quarter, led by record performance in our Power Systems segment. Our teams executed with discipline to meet continued strong demand for data center backup power and North America truck markets began to improve from a cyclical low, We also recorded charges related to the sale of our low-pressure fuel cell business, reflecting lower hydrogen adoption expectations and our continued commitment to focusing investments and reducing losses within the Accelera segment.”
Jennifer Rumsey

Next report

Nov 5, 2026 (in a month)
Revenue estimate$9.8B
EPS estimate$8.21

Financials

Q1 2026

Income statement

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Revenue$8.4B+2.7%
Gross profit$2.2B+4.1%
Operating income$949.0M-16.3%
Net income$680.0M-20.0%
EPS (diluted)$4.71-21.0%

Balance sheet

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Cash & equivalents$2.6B+70.6%
Total debt$8.0B+25.0%
Total equity$12.4B+13.1%
Total assets$34.4B+5.9%

Cash flow

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Operating cash flow$309.0M+10,400%
CapEx$189.0M+16.7%
Free cash flow$120.0M+173%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$74.34B+72.5%
Enterprise value$79.75B+66.2%
P/E26.7×+11.8×
P/S2.2×+0.9×

Profitability

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Gross margin25.4%+0.1pp
Operating margin11.3%-0.4pp
Net margin8.2%-0.3pp
FCF margin7.9%+7.9pp

Returns & leverage

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Return on equity23.9%-5.0pp
Debt / equity0.6×+0.1×
Current ratio1.7×+0.4×

Segments

By product

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Parts$1.1B+3.6%
Drivetrain and braking systems$918.0M-13.1%
Emission solutions$807.0M+2.0%
Power generation$640.0M+43.8%
Medium-duty truck and bus$613.0M-12.4%

By segment

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Distribution$3.1B+7.2%
Engine$2.7B-3.6%
Components$2.5B-5.2%
Power Systems$2.0B+18.6%
Accelera$101.0M-1.9%

By geography

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North America$2.2B+3.3%
Asia Pacific$327.0M+36.3%
Europe$303.0M+12.6%
Africa and Middle East$56.0M—
Latin America$51.0M+2.0%

FAQ

When did Cummins report Q1 2026 earnings?
Cummins (CMI) reported Q1 2026 earnings on May 5, 2026 before market open.
What were Cummins's Q1 2026 revenue and EPS?
Cummins reported revenue of $8.4B and eps of $6.15 for Q1 2026.
Did Cummins beat estimates in Q1 2026?
Revenue beat the consensus estimate of $8.4B by $31.7M. EPS beat the consensus estimate of $5.63 by $0.52.
How did Cummins's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.7% from $8.2B a year earlier and eps grew 3.2% from $5.96.
Where can I find Cummins's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000026172-26-000013) and the 10-Q periodic report (0000026172-26-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.