The Investor
05 Nov 2026, 14:58
Cummins Falls 1.9% as Weaker Pickup Demand Leads to Softer 2026 Revenue Outlook
Cummins (NYSE: CMI) shares fell about 1.9% despite reporting record third-quarter EBITDA and earnings per share, as weaker North American pickup truck demand led the company to trim its full-year revenue outlook.
Third-quarter revenue rose 13% year over year to $9.4 billion. Net income increased to $1.14 billion, or $8.25 per share, while EBITDA reached a record $1.8 billion, equal to 18.9% of sales.
Growth was led by Power Systems, where demand for power generation equipment remained strong amid continued data center expansion. North American heavy-duty truck demand also remained solid.
However, Cummins now expects full-year revenue growth of about 10%, compared with its previous range of 10%-13%. Management attributed the revision primarily to weaker-than-expected pickup truck demand in North America.
The company maintained EBITDA margin expectations at about 18.2% and said fourth-quarter revenue should increase sequentially to a new record.
The 1.9% decline appears to reflect concern over softer pickup demand and the reduced revenue outlook, despite strong profitability and continued strength in data center-related power generation demand.
Cummins (NYSE: CMI) shares fell about 1.9% despite reporting record third-quarter EBITDA and earnings per share, as weaker North American pickup truck demand led the company to trim its full-year revenue outlook.
Third-quarter revenue rose 13% year over year to $9.4 billion. Net income increased to $1.14 billion, or $8.25 per share, while EBITDA reached a record $1.8 billion, equal to 18.9% of sales.
Growth was led by Power Systems, where demand for power generation equipment remained strong amid continued data center expansion. North American heavy-duty truck demand also remained solid.
However, Cummins now expects full-year revenue growth of about 10%, compared with its previous range of 10%-13%. Management attributed the revision primarily to weaker-than-expected pickup truck demand in North America.
The company maintained EBITDA margin expectations at about 18.2% and said fourth-quarter revenue should increase sequentially to a new record.
The 1.9% decline appears to reflect concern over softer pickup demand and the reduced revenue outlook, despite strong profitability and continued strength in data center-related power generation demand.
