Cummins (CMI)
Cummins (CMI) designs and builds the diesel and natural-gas engines, power-generation systems, and components that move trucks and keep critical sites running. In ETFpedia it represents the HALO concept of AI-resilient physical businesses, and its Power Systems unit is also riding data-center backup-power demand, growing 19% in the first quarter of 2026.
| Ticker | CMI |
|---|---|
| Exchange | NYSE |
| Sector | Industrials · Engines & Power Systems |
| Country | United States |
| Held by ETF | Roundhill HALO ETF (LOHA) |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Date is analyst/calendar-estimated; confirm on Cummins IR. Last report: Q1 2026 on 2026-05-05. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-05)
Cummins reported revenue of $8.4 billion, up 3% year over year, led by a record Power Systems quarter on data-center backup-power demand, with GAAP EPS of $4.71 (including a fuel-cell exit charge).
| Revenue | $8.4B+3%YoY |
|---|---|
| GAAP EPS | $4.71 · includes a fuel-cell exit charge of about $1.44/sh |
| EBITDA margin | 15.4% |
| Power Systems revenue | $1,956M · +19% YoY, record; EBITDA $577M (29.5%) |
Revenue by segment
| Distribution | $3,116M+7% YoY |
|---|---|
| Engine | $2,672M-4% YoY |
| Components | $2,530M-5% YoY |
| Power Systems | $1,956M+19% YoY |
| Accelera (zero-emissions) | $101M-2% YoY |
Guidance:Full-year 2026 (raised)
| Revenue growth | +8% to +11% · raised from +3% to +8% |
|---|---|
| EBITDA margin | 17.75%–18.50% |
Recent & upcoming events
- · Q1 2026 results; full-year outlook raised.Record Power Systems quarter on data-center demand; revenue $8.4B (+3%); $519M returned to shareholders. (source)
- · Accelera exits low-pressure fuel cells.Recorded charges on the sale of its low-pressure fuel-cell business (about $1.44 per share) on a weaker hydrogen-adoption outlook. (source)
Segment revenues are gross of intercompany eliminations, so they sum above the consolidated $8.4B; adjusted EPS was not separately disclosed in the primary release.
Figures are as of 2026-06-03 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Cummins do?
Cummins makes engines, power-generation systems, and the components that go into them, and it runs a large aftermarket parts-and-service distribution business. Its segments are Engine, Components, Distribution, Power Systems, and the zero-emissions Accelera unit. The physical plant, foundries, machining, and a global service network, is what makes the business hard to replicate (Cummins, May 5, 2026).
Why is Cummins resilient to AI disruption, and where does AI help?
Engines and gensets are heavy, regulated, capital-intensive products that no model can synthesize, which puts Cummins firmly in the HALO camp. It also has a direct AI tailwind: data centers need backup power, and Cummins’ Power Systems segment supplies the gensets, setting a record in Q1 2026 with revenue up 19% to $1,956 million and segment EBITDA of $577 million (29.5% of sales) (Cummins 8-K).
Cummins delivered strong results in the first quarter, led by record performance in our Power Systems segment. Our teams executed with discipline to meet continued strong demand for data center backup power and North America truck markets began to improve from a cyclical low.
— Jennifer Rumsey, Chair & CEO, Cummins (Q1 2026 results)
What did Cummins report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Cummins reported revenue of $8.4 billion, up 3% year over year, with GAAP EPS of $4.71 (Cummins). Power Systems revenue rose 19% to a record, while the truck-driven Engine and Components segments softened.
What is Cummins’ guidance?
Cummins raised its full-year 2026 outlook to revenue growth of 8–11% (from 3–8%) and EBITDA margin of 17.75–18.50%, citing data-center power demand (Cummins).
What are the risks for Cummins?
- Truck cyclicality. Soft North American truck demand cut Engine and Components revenue and margins.
- Energy-transition losses. Accelera is unprofitable, and the fuel-cell exit signals slower hydrogen adoption.
- Data-center concentration. Power Systems strength depends on continued hyperscaler capex.
- Macro and regulation. Emissions rules, tariffs, and global industrial demand all weigh on results.
Related securities, concepts & terms
- AI-Resilient Investingparent
- Heavy Asset Low Obsolescence (HALO)parent
- Canadian National Railway (CNI)sibling
- W.W. Grainger (GWW)sibling
Related indices & ETFs
- Roundhill HALO ETF (LOHA) · Roundhill InvestmentsTracks the Akros U.S. HALO Index of physical-economy companies screened for AI resilience.
Frequently asked questions about Cummins
What does Cummins do?
Cummins designs, manufactures, and distributes diesel and natural-gas engines, power-generation systems, and components, plus an aftermarket parts-and-service network and a zero-emissions unit (Accelera). It serves trucks, off-highway, marine, rail, mining, and standby power markets.
When does Cummins report its next earnings?
Cummins is expected to report Q2 2026 results around August 4, 2026. That date is analyst/calendar-estimated, so confirm it on Cummins' investor-relations site. It last reported Q1 2026 on May 5, 2026.
What was Cummins' latest quarterly revenue?
Cummins reported revenue of $8.4 billion in Q1 2026, up 3% year over year, with GAAP EPS of $4.71 (including a roughly $1.44-per-share fuel-cell exit charge). It returned $519 million to shareholders during the quarter, and consolidated EBITDA margin was 15.4% of sales.
How is Cummins' Power Systems segment doing?
Power Systems set a record in Q1 2026, with revenue of $1,956 million, up 19% year over year on data-center backup-power demand, and segment EBITDA of $577 million, or about 29.5% of sales, far above the company-wide margin. The truck-driven Engine and Components segments softened over the same period.
What is Cummins' guidance?
At its Q1 2026 report, Cummins raised full-year 2026 guidance to revenue growth of 8–11% (from 3–8%) and EBITDA margin of 17.75–18.50%, citing data-center power demand and an improving North America truck market off a cyclical low.
Why is Cummins a HALO (AI-resilient) stock?
Cummins makes physical engines and power hardware requiring deep manufacturing, distribution, and service moats that software cannot replace. Its AI tailwind is concrete: Power Systems, which supplies data-center backup gensets, grew 19% to a record $1,956 million in Q1 2026 at roughly 29.5% segment EBITDA margin.
Sources & references
- Cummins reports first quarter 2026 results and raised outlook · Cummins Inc., 2026-05-05
- Cummins Q1 2026 results (SEC 8-K, Exhibit 99) · Cummins Inc. / SEC EDGAR, 2026-05-05
- Cummins Inc. · investor relations and events · Cummins Inc., 2026-06-02
- Cummins Inc. · investor financial results and events calendar · Cummins Inc., 2026-06-03
- NYSE listed company information · CMI · New York Stock Exchange, 2026-06-02