Cummins 8-K

PositiveEarningsGuidance raised

Data-center power demand and improving North American truck markets drive record sales and a raised full-year outlook.

Filed 2026-08-04 07:58 ET

Summary

Q2 2026 results with a raised FY2026 outlook. Cummins reported record quarterly revenue, supported by robust data-center power demand and improving North American truck markets. It raised its full-year revenue outlook and increased the low end of its EBITDA margin range; the company expects the second half to be stronger than the first.

Key Figures

Metric Q2 2026 Q2 2025 Y/Y
Revenue $9.46B $8.64B +9%
Operating income $1.28B $1.23B +4.3%
Net income attributable to Cummins $932M $890M +4.7%
EBITDA, non-GAAP $1.65B $1.59B +4.2%
Diluted EPS $6.73 $6.43 +4.7%
Operating cash flow $1.50B $785M +91%
  • EBITDA margin fell to 17.5% from 18.4%, primarily due to higher incentive compensation tied to expected record full-year results. Power Systems sales rose 19%, driven mainly by power-generation demand, particularly for data centers.
  • Cash, cash equivalents and marketable securities totaled $3.92B at 6/30/2026. Cummins returned $501M through dividends and repurchases, including $225M of share repurchases; treasury shares were 84.9M vs 84.4M at 12/31/2025.
  • The first-quarter sale of the low-pressure fuel-cell business and settlement of customer obligations resulted in a $199M net charge and a $175M net payment; the charge is excluded from the EBITDA outlook.

Guidance

Metric Period Guidance Prior Direction
Revenue growth FY2026 Up 10% to 13% Y/Y Up 8% to 11% Raised
EBITDA margin, non-GAAP FY2026 18.0% to 18.5% 17.75% to 18.5% Raised low end

Investor Takeaways

  • Watch whether second-half results support the company’s expectation of stronger performance and deliver within the raised FY2026 ranges.
  • Demand for data-center power generation and North American on-highway markets will be key drivers of the outlook.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

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