Cummins Raises FY23 Revenue Growth Guidance To 18%-21% From 15%-20% Prior Vs. $33.14B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cummins has increased its full year 2023 revenue guidance from 15%-20% to 18%-21%, due to strong demand across most markets, particularly North America. The company expects EBITDA to be between 15.2% and 15.4% of sales. The forecast includes the inclusion of Atmus for the entirety of 2023, but excludes any costs or benefits associated with the planned separation of Atmus. Revenues of the Meritor business for 2023 are expected to be between $4.7 billion and $4.9 billion.
November 02, 2023 | 11:40 am
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Cummins has raised its FY23 revenue guidance, which could lead to increased investor confidence and potentially a rise in the stock price.
Raising revenue guidance is generally seen as a positive sign by investors, as it indicates that the company expects to perform better than previously anticipated. This could lead to increased investor confidence in Cummins, potentially leading to a rise in the stock price.
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