Cummins (CMI) Tops Q2 EPS by 59c
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Cummins Reports Second Quarter 2022 Results
August 2, 2022 7:30 AM EDTSecond quarter revenues of $6.6 billion; GAAP1 Net Income of $702 million (10.7 percent of sales) EBITDA in the second quarter was 16.0 percent of sales; Diluted EPS of $4.94 Second quarter results include $29 million ($0.16 per diluted share) of costs related to the separation of the Filtration business, and benefit of $47 million ($0.33 per diluted share) from adjusting the reserves related to the suspension of our operations in Russia. The company is maintaining its full year 2022 guidance, expecting revenue to be up 8 percent and EBITDA of approximately 15.5 percent.
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