Cummins Sees FY24 Revenue Guidance To Be Down 3% To Flat
Portfolio Pulse from Benzinga Newsdesk
Cummins has updated its full-year 2024 revenue guidance to be down 3% to flat, driven by stronger than expected demand in North America on-highway and power generation markets. EBITDA is now expected to be in the range of 15.0% to 15.5%, an improvement from the previous guidance.
August 01, 2024 | 11:32 am
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Cummins has revised its full-year 2024 revenue guidance to be down 3% to flat, citing stronger than expected demand in North America on-highway and power generation markets. EBITDA is now expected to be in the range of 15.0% to 15.5%, an improvement from the previous guidance.
The updated revenue guidance, although indicating a potential decline, is better than previous expectations due to stronger demand. The improved EBITDA range suggests better profitability, which is likely to have a positive short-term impact on the stock price.
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