Cummins Full Year 2022 Earnings: Revenues Beat Expectations, EPS Lags
Cummins (NYSE:CMI) Full Year 2022 Results
Key Financial Results
Revenue: US$28.1b (up 17% from FY 2021).
Net income: US$2.15b (flat on FY 2021).
Profit margin: 7.7% (down from 8.9% in FY 2021). The decrease in margin was driven by higher expenses.
EPS: US$15.20 (up from US$14.74 in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cummins Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 1.0%.
Looking ahead, revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the US.
Performance of the American Machinery industry.
The company's share price is broadly unchanged from a week ago.
What about risks? Every company has them, and we've spotted 2 warning signs for Cummins you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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