Cummins increases full-year revenue guidance
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Cummins Inc. is reporting higher second quarter profits this year than it did in 2026 – though the profit was less than some stock market analysts had projected.
Second-quarter 2026 revenues of $9.5 billion increased 9% from the same quarter in 2025. Sales in North America increased 8% while international revenues, led by growth in China, increased 12%. Net income attributable to Cummins in the second quarter was $932 million, or $6.73 per diluted share, compared to $890 million, or $6.43 per diluted share, in 2025. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), a measure of a company’s overall financial performance and core operating profitability, in the second quarter was $1.7 billion, or 17.5% of sales, compared to $1.6 billion, or 18.4% of sales, a year ago.
"Cummins delivered record second-quarter results, reflecting robust customer orders for standby power for data centers and improving North American truck markets," said Jennifer Rumsey, chair and CEO of Cummins. "Rising demand and disciplined execution drove record performance as we continue to perform well in a complex macroeconomic environment. We are raising our expectations for full year performance and expect the second half of the year to be stronger than the first half. With greater regulatory clarity in on-highway markets in the U.S. and continued momentum across key markets, we are well positioned to deliver for our customers and generate profitable growth."
As was reported by The Post-Journal in June, Cummins is partnering with Circe Energy to provide a series of natural gas generator sets to support a scalable, behind-the-meter, prime power microgrid solution for Circe's High-Performance Computing (HPC) data center in Texas. Deliveries are scheduled from 2026 through 2030 and will include Cummins' HSK78 and QSK60 generator set platforms.
Cummins also recently announced its 2027 North American on-highway product launch plans following the EPA’s proposed changes to upcoming emissions regulations. The company will introduce its new X10 and X15 engines through a measured production ramp while maintaining select legacy product availability in 2027. The approach is designed to satisfy the proposed regulatory framework, support customer production schedules and provide additional time to ramp production in a disciplined manner that helps position the industry for a successful transition. Cummins recently showcased the new platforms through the nationwide Forever Rising Tour, providing customers with hands-on experience and direct engagement with the company’s latest powertrain technologies.The 2027 model X15 engine is produced at Cummins' Jamestown Engine Plant in Busti.
Engine segment sales increased 6% to $3.1 billion in the second quarter, with segment EBITDA of $386 million, or 12.5% of sales, compared to $400 million, or 13.8% of sales for the second quarter of 2025. Revenues in North America increased 1% and international sales increased 23% due to stronger construction demand in China.
Sales increased more in components (7%), distribution (9%), power systems (19%) based on stronger truck demand in the U.S. and China, increased demand for power generation products, particularly for data center applications in the U.S., China and the Asian Pacific regions. Sales in Cummins' Accelera segment increased 38% from the second quarter of 2025 to 2026 to $145 million, though EBITDA in the segment was still a $69 million loss. Revenues for Accelera increased due to stronger eMobility demand, with company officials saying Cummins remains committed to pacing and focusing its zero-emissions investments on the most promising paths in order to ensure long-term success as part of Cummins' Destination Zero strategy, while reducing the rate of ongoing EBITDA losses.
Based on its current forecast, Cummins is increasing its full-year 2026 revenue guidance to be up 10% to 13%, due to stronger demand across several markets, particularly North America on-highway markets, China construction and power generation. EBITDA is expected to be in the range of 18.0% to 18.5%, compared to the company's prior guidance of 17.75% to 18.5%, excluding the charges related to the sale of the fuel cell business in the first quarter.
The company has a goal of returning 50% of operating cash flow back to shareholders, with an increase in quarterly common stock cash dividends from $2 to $2.20 per share.
"We're raising our financial outlook for 2026 as demand continues to outpace expectations across several key markets," Rumsey said. "North American truck markets continue to improve, while demand for data center power generation remains robust. Our market-leading positions and talented global workforce position us well to capitalize on these trends, meet our customers' needs, invest in future growth and continue delivering strong returns for shareholders."