Cummins Half-Year Report 2023

Second-quarter revenues of $8.6 billion increased 31 percent from the same quarter in 2022. Sales in North America increased 31 percent and international revenues increased 32 percent due to the addition of Meritor and strong demand across most global markets.

Highlights



• Record second quarter revenues of $8.6 billion; GAAP Net Income of $720 million
• EBITDA in the second quarter was 15.1 percent of sales; Diluted EPS of $5.05
• Second quarter results include $23 million, or $0.13 per diluted share, of costs related to the separation of Atmus Filtration Technologies Inc.
• The company is maintaining its full-year 2023 guidance, expecting revenue to be up 15 to 20 percent and EBITDA of 15.0 to 15.7 percent.