Earnings Releases·Nov 5, 2026, 7:48 AM ET

Cummins Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 revenue reached $9.4 billion (+13% YoY) with net income of $1.14 billion ($8.25/share), up from $536 million ($3.86/share) in Q3 2025; EBITDA hit a record $1.8 billion (18.9% of sales) versus $1.2 billion (14.3%) last year.
Full-year 2026 revenue growth guidance was lowered to approximately 10% (from 10–13%), while EBITDA margin guidance remains consistent at ~18.2%; Q4 revenue is expected to set a new record.
Power Systems and Components segments drove growth with 15% and 23% sales increases respectively, while Accelera sales declined 15% due to reduced electrolyzer demand; the company returned $661 million to shareholders in Q3 via dividends and buybacks.
Strategic updates include a dividend increase to $2.20/share (17th consecutive year), selection for a major U.S. data center battery energy storage project, and a commitment to pace zero-emissions investments to reduce Accelera losses.
Headwinds include weakened pickup truck demand in North America and ongoing regulatory risks regarding emissions certification, though global power generation demand remains exceptionally strong.