Cummins Q2 2026: record $9.46 billion revenue, raised outlook, EPS miss
Record revenue, a raised outlook and $1.25 billion of quarterly free cash flow — the direction of travel is up, even though reported EPS landed below consensus. Read the quarter in two parts: the demand story in power generation and North American trucks is clearly improving, while the bottom line was hit by tax items and higher incentive pay. Judge it on second-half margins, not on the $6.73 headline.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $6.73 beat last year's $6.43 but came in about 7.9% below the $7.305 consensus estimate. A 25.1% tax rate, including $29 million of unfavorable discrete items worth $0.21 a share, did much of that damage, and management expects a full-year rate near 23.0%. Net income of $932 million was 9.9% of sales, down from 10.3% a year ago, so profit grew more slowly than revenue.
Revenue of $9.46 billion rose 9.4% from $8.64 billion a year ago and 12.6% from last quarter's $8.40 billion, a record second quarter. North America grew 8% while international sales rose 12%, led by China. Power Systems did the heavy lifting: total segment sales rose 19% to $2.3 billion, with segment EBITDA of $552 million.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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