CMI · 10-Q · 2026Q3

CUMMINS INC

Filed 2026-11-05 · Industrials · View original filing on EDGAR

Everything CMI's SEC filings said, ranked

Ranked Events

• Operating Cash Flow TrendsImportance 69 · Surprise 64
  Net cash provided by operating activities rose $1.126 billion to $3.213 billion in the nine months ended September 30, 2026, from $2.087 billion in the comparable 2025 period. Lower working capital requirements…
• Net Income and EPS PerformanceImportance 69 · Surprise 64
  Third-quarter 2026 net income attributable to Cummins was $1.140 billion, or $8.25 per diluted share, compared with $536 million and $3.86 per diluted share in the third quarter of 2025. Nine-month net income…
• Capital Expenditure ProgramImportance 65 · Surprise 32
  Capital expenditures were $741 million in the first nine months of 2026, compared with $691 million in the comparable 2025 period. Cummins estimated full-year 2026 capital expenditures of $1.35 billion to $1.45…
• Manufacturing and CapacityImportance 58 · Surprise 42
  Cummins said it continues to invest in new product lines and targeted capacity expansions. The company planned $1.35 billion to $1.45 billion of capital expenditures in 2026, with approximately 60 percent expected to…
• Supply Chain and InventoryImportance 54 · Surprise 40
  Inventories were $6.811 billion at September 30, 2026, up from $5.822 billion at December 31, 2025, an increase of approximately 17%. Inventory turnover was 4.1, compared with 4.2 at year-end. Management said…
• End-Market Demand TrendsImportance 51 · Surprise 64
  North American medium- and heavy-duty truck demand strengthened: Engine segment shipments rose 68% for heavy-duty engines and 88% for medium-duty engines in the third quarter, while total unit shipments increased 21%.…
• Capital Return ProgramImportance 50 · Surprise 58
  Cummins paid $854 million in dividends during the first nine months of 2026. In July 2026, the Board raised the quarterly dividend 10%, from $2.00 to $2.20 per share. The company completed its 2019 $2.0 billion…
• Trade Policy and TariffsImportance 47 · Surprise 60
  The U.S. Supreme Court ruled on February 20, 2026, that tariffs imposed under the International Emergency Economic Powers Act on goods imported into the U.S. were unauthorized; new tariffs were subsequently imposed…
• Revenue Performance and MixImportance 45 · Surprise 40
  Third-quarter 2026 net sales rose 13% to $9.438 billion from $8.317 billion, while nine-month sales increased 9% to $27.293 billion from $25.134 billion. For the quarter, Components sales increased 23% to $2.856…
• Guidance and OutlookImportance 44 · Surprise 24
  Management’s 2026 outlook expects strong demand in Power Systems markets, including power generation and industrial, stable aftermarket demand, and continued strong North American medium- and heavy-duty truck demand…
• Operating Margin DriversImportance 43 · Surprise 32
  Gross margin increased $486 million in the third quarter and $758 million in the first nine months of 2026, reaching 27.7% and 26.8% of sales, respectively, up 2.1 and 0.7 percentage points year over year. Higher…
• Geographic Revenue PerformanceImportance 42 · Surprise 40
  Third-quarter international sales increased 11%, mainly on higher sales in China, Asia Pacific, and Latin America, with increased power generation demand supporting the gain. For the first nine months, international…
• Liquidity and Debt PositionImportance 42 · Surprise 14
  At September 30, 2026, Cummins reported total debt of $7.519 billion, down from $7.552 billion at December 31, 2025, and debt equal to 34.4% of total capital versus 36.0%. Cash and cash equivalents totaled $3.571…
• Income Tax Rate ChangesImportance 40 · Surprise 56
  Effective tax rates were 17.7% for the third quarter and 22.8% for the first nine months of 2026, compared with 32.7% and 26.3%, respectively, in 2025. The third quarter of 2026 included $75 million of net favorable…
• Accelera Divestiture and ChargeImportance 34 · Surprise 42
  On March 31, 2026, Cummins sold its low pressure fuel cell business to a customer, cancelled future commitments and resolved certain claims with that customer. The transactions resulted in a $175 million net payment by…
• AI Data Center BuildoutImportance 32 · Surprise 24
  Higher demand for power generation equipment, especially in data center applications, contributed to worldwide revenue growth in the third quarter and first nine months of 2026. In North America, increased demand for…
• FX / Currency ImpactImportance 31 · Surprise 32
  For the nine months ended September 30, 2026, favorable foreign currency fluctuations contributed 3 percent to international sales growth, primarily from the Chinese renminbi, Euro and Brazilian real, partially offset…
• Emissions Regulation TransitionImportance 23 · Surprise 24
  For 2026 and beyond, management warns that government-policy changes—including reduced incentives, delayed infrastructure mandates or revised emissions standards—may affect Accelera’s ability to compete, scale…
• Operating Expense TrendsImportance 13 · Surprise 6
  Selling, general and administrative expenses increased $79 million in the third quarter and $267 million in the first nine months of 2026, primarily because of higher compensation expenses; nine-month costs also…

Revenue by Product (in millions)

Revenue by Geography (in millions)