Cummins Q2 Results Exceed Estimates, Increases Revenue Guidance With Strong North America Demand
Portfolio Pulse from Akanksha Bakshi
Cummins Inc (NYSE:CMI) reported better-than-expected Q2 2024 results, with sales growth of 1.8% year over year to $8.796 billion, beating the consensus of $8.343 billion. Adjusted EPS was $5.26, surpassing the consensus of $4.76. The company raised its 2024 revenue guidance due to strong North America demand, despite expecting a slowdown in the North America heavy-duty truck market in the second half of the year. CMI shares are up 8.42% following the announcement.
August 01, 2024 | 2:43 pm
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Cummins Inc reported strong Q2 2024 results, beating sales and EPS estimates. The company raised its 2024 revenue guidance due to strong North America demand, despite anticipating a slowdown in the North America heavy-duty truck market in the second half of the year. Shares are up 8.42%.
The strong Q2 results and raised revenue guidance indicate positive performance and future prospects, driving the stock price up by 8.42%. The company's ability to exceed expectations and adjust guidance upwards is a strong positive signal for investors.
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