Cummins (CMI) Tops Q1 EPS by 84c, Offers Outlook
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Cummins Reports Record First Quarter 2023 Results
May 2, 2023 7:30 AM EDTRecord first quarter revenues of $8.5 billion; Record GAAP1 Net Income of $790 million EBITDA in the first quarter was 16.1 percent of sales; Record Diluted EPS of $5.55 First quarter results include $18 million, or $0.10 per diluted share, of costs related to the separation of the Filtration business. The company is raising its full year 2023 revenue guidance to be up 15 to 20 percent; an increase from previous guidance of up 12 to 17 percent. EBITDA is now expected to be in the range of 15.0 to 15.7 percent; an increase from previous guidance of 14.5 to 15.2... More
