Cummins Inc. reported third-quarter 2024 revenues of $8.5 billion, which were flat compared to the same quarter in 2023. Net income attributable to Cummins increased to $809 million, or $5.86 per diluted share, up from $656 million, or $4.59 per diluted share, in the prior year.
The company achieved an EBITDA of $1.4 billion, representing 16.4% of sales, an improvement from $1.2 billion, or 14.6% of sales, in the third quarter of 2023. This profitability was driven by strong performance in the Power Systems and Distribution businesses, which offset slowing demand in the North American heavy-duty truck market.
Based on these results, Cummins maintained its full-year 2024 revenue guidance to be in the range of down 3% to flat, but raised its EBITDA outlook to approximately 15.5%, reaching the top end of its previous guidance range. This reflects confidence in operational efficiencies and strategic positioning despite market challenges.
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