Earnings Preview: What to Expect From Cummins' Report

Columbus, Indiana-based Cummins Inc. (CMI) designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. Valued at $84.4 billion by market cap, the company offers products to original equipment manufacturers (OEMs), distributors, and dealers through a network of company-owned and independent distributor facilities. The global power solutions leader is expected to announce its fiscal first-quarter earnings for 2026 on Monday, May 4.

Ahead of the event, analysts expect CMI to report a profit of $5.79 per share on a diluted basis, down 2.9% from $5.96 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the full year, analysts expect CMI to report EPS of $26.01, up 9.4% from $23.78 in fiscal 2025. Its EPS is expected to rise 16.7% year over year to $30.36 in fiscal 2027. 

CMI stock has considerably outperformed the S&P 500 Index’s ($SPX) 25.1% gains over the past 52 weeks, with shares up 106% during this period. Similarly, it notably outperformed the State Street Industrial Select Sector SPDR ETF’s (XLI) 35.8% gains over the same time frame.

CMI delivered strong Q4 results despite weak North America truck markets, driven by robust demand for data center backup power and record sales in Distribution and Power Systems. New engine launches (X10 and B 7.2) and cost controls supported performance, though tariffs and electrolyzer business review impacted margins. 

Analysts’ consensus opinion on CMI stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and 10 give a “Hold.” While CMI currently trades above its mean price target of $609.61, the Street-high price target of $703 suggests an upside potential of 15.1%.