Cummins says 1st Quarter revenue, net income results were strong

COLUMBUS, Ind. - Cummins Inc. reported its first-quarter net income and revenue results on Tuesday.

Jennifer Rumsey, Chair and CEO of Cummins, said, “Cummins delivered strong results in the first quarter, led by record performance in our Power Systems segment. Our teams executed to meet continued strong demand for data center backup power, and the North America truck markets began to improve from a cyclical low. We also recorded charges related to the sale of our low-pressure fuel cell business, reflecting lower hydrogen adoption expectations and our continued commitment to focusing investments and reducing losses within the Accelera segment.”

First-quarter 2026 revenues of $8.4 billion increased 3% from the same quarter in 2025. Sales in North America decreased 6%, while international revenues increased 16%, primarily due to stronger demand in China.

Net income attributable to Cummins in the first quarter was $654 million, compared to $824 million in 2025. The current quarter results include charges related to the sale of our low-pressure fuel cell business of $199 million.

EBITDA in the first quarter was $1.3 billion, or 15.4% of sales, compared to $1.5 billion, or 17.9% of sales, a year ago. EBITDA for the first quarter of 2026 included the charges noted above.

Based on its current forecast, Cummins is raising its full-year 2026 revenue guidance to be up 8% to 11%, due to stronger demand across several markets, particularly North America, on-highway, and power generation. EBITDA is expected to be in the range of 17.75% to 18.50%, up from our prior guidance of 17.0% to 18.0%, excluding the charges related to the sale of the fuel cell business in the first quarter.

Cummins says it plans to continue generating strong operating cash flow and returns for shareholders and is committed to its long-term strategic goal of returning 50% of operating cash flow back to shareholders.