COLUMBUS, Ind. — Cummins Inc., on Wednesday, reported very favorable results for the second quarter of 2023.
Revenues of $8.6 billion in the second quarter increased 31% from the same quarter in 2022. Sales in North America were up 31% and international revenues increased 32% due to the addition of Meritor and strong demand across most global markets.
Second-quarter net income attributable to Cummins was $720 million ($5.05 per diluted share) compared to $702 million, ($4.94 per diluted share) in 2022.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter were $1.3 billion, or 15.1% of sales, compared to $1.1 billion, or 16% of sales, a year ago.
Based on its current forecast, Cummins is maintaining its full-year 2023 revenue guidance to be up 15 to 20% due to strong demand across most markets, especially North America. EBITDA is still expected to be in the range of 15 to 15.7% of sales, according to the company.
