Cummins Inc. (NYSE:CMI) Q4 2023 Earnings Conference Call February 6, 2024 10:00 AM ET Company Participants Chris Clulow - VP, IR Jennifer Rumsey - Chairman & CEO Mark Smith - CFO Conference Call Participants Jerry Revich - Goldman Sachs Tim Thein - Citigroup David Raso - Evercore Angel Castillo - Morgan Stanley Rob Wertheimer - Melius Research Tami Zakaria - JPMorgan Noah Kaye - Oppenheimer Michael Feniger - Bank of America Operator Greetings, and welcome to Cummins Inc. Third Quarter 2023 Earnings Conferen ...

财务表现 - Cummins Inc. (CMI)2023年第四季度每股收益为4.14美元，较2022年同期的4.52美元下降[1] - Cummins截至2023年12月31日的现金及现金等价物为21.8亿美元，长期债务总额为48亿美元[8] - 2024年全年，Cummins预计营收同比下降2-5%，EBITDA预计在销售额的14.4-15.4%之间[10] 销售部门表现 - 引擎部门销售额同比增长5%，达到28亿美元，超过预期[2] - 配送部门销售额同比增长17%，达到27亿美元，超过预期[4] - 零部件部门销售额同比增长3%，达到32亿美元，但低于预期[5] - 电力系统部门销售额同比增长8%，达到14亿美元，但低于预期[6] - Accelera部门销售额同比增长8%，达到8100万美元，但低于预期[7]

Cummins (CMI) reported $8.54 billion in revenue for the quarter ended December 2023, representing a year- over-year increase of 10%. EPS of $4.14 for the same period compares to $4.52 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $8.08 billion, representing a surprise of +5.79%. The company delivered an EPS surprise of -6.12%, with the consensus EPS estimate being $4.41. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Cummins (CMI) came out with quarterly earnings of $4.14 per share, missing the Zacks Consensus Estimate of $4.41 per share. This compares to earnings of $4.52 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of -6.12%. A quarter ago, it was expected that this engine maker would post earnings of $4.63 per share when it actually produced earnings of $4.73, delivering a surprise of 2.16%. Over the last four quarters, the company ha ...

财务数据 - 2023财年全年营收为341亿美元，净利润为7.35亿美元，每股稀释收益为5.15美元[1] - 2023财年EBITDA为3017亿美元，占销售额的8.9%；不计入与美国监管机构达成和解的成本等因素后，EBITDA为519.5亿美元，占销售额的15.3%[2] - 2023财年全年经营现金流为40亿美元，向股东支付了9.21亿美元的股息[3] - 2023财年净销售额增长分别为38%、7%、15%、13%和79%[4] - 2023财年第四季度营收为85亿美元，净亏损为14.31亿美元，每股稀释亏损为10.01美元[5] - 2023年第四季度，Cummins Inc.的销售额达到8543百万美元，同比增长10%[6] - 2023年第四季度，Cummins Inc.的净利润占销售额的比例为6.9%，较去年同期下降1.4%[7] - 2023年第四季度，Cummins Inc.的每股稀释收益为4.14美元，较去年同期下降0.4美元[8] - 2023年第四季度，Cummins Inc.的EBITDA占销售额的比例为14.4%，较去年同期略有下降[9] - 2023年第四季度，Cummins Inc.的ROANA为29%，较去年同期增长3%[10] - 2023年第四季度，Cummins Inc.的ROIC为17%，较去年同期增长1%[11] - 2023年Cummins Inc.销售额为341亿美元，EBITDA为52亿美元，EBITDA占比为15.3%[12] - 2023年Components Segment销售额为134亿美元，EBITDA为19亿美元，EBITDA占比为14.4%[13] - 2023年Engine Segment销售额为117亿美元，EBITDA为16亿美元，EBITDA占比为14.1%[14] - 2023年Distribution Segment销售额为102亿美元，EBITDA为12亿美元，EBITDA占比为11.8%[15] - 2023年Power Systems Segment销售额为57亿美元，EBITDA为8.36亿美元，EBITDA占比为14.7%[16] 未来展望 - 2023年第四季度，Cummins Inc.的全年指导中，预计营收下降2%至5%[17] - 2023年第四季度，Cummins Inc.的全年指导中，EBITDA利润率预计在14.4%至15.4%之间[18] 市场扩张和并购 - 2023年Cummins在新兴市场销售额表现强劲，包括印度和中国[19][20] 其他新策略和有价值的信息 - 2023年12月底，康明斯公司的净营业利润为3201百万美元，较2022年底的2504百万美元增长27.8%[21] - 2023年12月底，康明斯公司的总债务为6696百万美元，总资产为16600百万美元，总资本为17822百万美元，净债务为3955百万美元，总债务占总资本的比例为40.3%，净债务占总资本的比例为23.8%[22]

Cummins Inc. (CMI) is slated to release fourth-quarter 2023 results on Feb 6 before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at $4.41 and $8.08 billion, respectively. For the fourth quarter, the consensus estimate for CMI’s earnings per share has moved down by a penny in the past 30 days. Its bottom-line estimates imply a decline of 2.43% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues sugg ...

In the latest trading session, Cummins (CMI) closed at $242.97, marking a +1.53% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 1.25% for the day. Meanwhile, the Dow experienced a rise of 0.97%, and the technology-dominated Nasdaq saw an increase of 1.3%. Shares of the engine maker witnessed a gain of 0.66% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 11.14% and underperforming the S&P 500's gain of 1.58%. The inves ...

盈利预期 - Cummins (CMI) 预计季度每股收益为 $4.41，较去年同期下降 2.4%[1] - 分析师预测营收为 $8.08 亿美元，同比增长 3.9%[1] - 过去 30 天内，本季度的每股收益预期已上调 2.6%[2] - 在公司公布财报前，重要考虑对盈利预期的任何变化[3] - 投资者通常依赖于共识盈利和营收预期来评估季度业绩[4]

Cummins股票表现 - Cummins (CMI)最新收盘价为$240.63，较前一交易日上涨了0.75%[1] - Cummins股票在过去一个月中下跌了0.72%，超过了汽车-轮胎-卡车行业的12.12%的跌幅，但落后于标普500指数在同一时期的涨幅3.05%[2] Cummins财务业绩 - Cummins计划于2024年2月6日公布财务业绩，预计每股收益为$4.41，较去年同期下降了2.43%，预计营收为80.8亿美元，较去年同期增长了3.93%[3] - 分析师对Cummins的预期变化也应引起投资者的注意，正面的预期修订反映了分析师对公司业务和盈利能力的乐观态度[4]

合资公司及工厂选址 - Cummins、PACCAR和Daimler Truck AG选择密西西比州马歇尔县作为其合资公司先进电池制造工厂的未来场地，预计投资额在20亿至30亿美元之间[1] - 合资公司由Accelera、Daimler Truck和PACCAR各持30%股权，将专注于商用电动卡车的磷酸铁锂（LFP）电池技术[3] 就业岗位和支持 - 预计在美国创造超过2,000个制造业就业岗位，支持中重型商用运输颀域电动车辆的采用[2] 电池技术特点 - 磷酸铁锂（LFP）电池技术比其他化学成分更安全、更耐用、成本更低，且不需要镍和钴等原材料[3]