Cummins (CMI) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Cummins published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Segment sales include sales between Cummins segments; the intersegment eliminations row brings them back to consolidated net sales.
• Q3 2025 results included $240 million, or $1.73 per diluted share, of non-cash charges in Accelera tied to the electrolyzer business. Q3 2026 diluted EPS included $0.54 per share of favorable discrete tax items.

Source: Cummins Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Cummins splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Cummins's Engine revenue was $3.1 billion in Q3 2026, up 20% from $2.6 billion in Q3 2025, 33% of total revenue.
• Cummins's Components revenue was $2.9 billion in Q3 2026, up 23% from $2.3 billion in Q3 2025, 30% of total revenue.
• Cummins's Distribution revenue was $3.3 billion in Q3 2026, up 4% from $3.2 billion in Q3 2025, 35% of total revenue.
• Cummins's Power Systems revenue was $2.3 billion in Q3 2026, up 15% from $2.0 billion in Q3 2025, 24% of total revenue.
• Cummins's Accelera revenue was $103 million in Q3 2026, down 15% from $121 million in Q3 2025, 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Cummins said:

“Based on its current forecast, Cummins expects revenue growth of approximately 10% compared to our prior guidance of 10% to 13%.”

“EBITDA margins are expected to be approximately 18.2%, consistent with our prior guidance range of 18% to 18.5%, and excluding charges related to the sale of the low-pressure fuel cell business in the first quarter.”

“Cummins plans to continue generating strong operating cash flow and returns for shareholders and is committed to our goal of returning 50% of operating cash flow back to shareholders.”

Source: Cummins Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CMI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and GAAP diluted EPS, each as first reported in that quarter's release.

Cummins's next report is expected around February 4, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Cummins reports five segments, and their sales include sales to each other. In Q3 2026 Distribution had total sales of $3,310 million, Engine $3,130 million, Components $2,856 million, Power Systems $2,289 million and Accelera $103 million; $2,250 million of intersegment sales come out to reach consolidated net sales of $9,438 million. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins' Power Systems segment grew 15%, driven by power generation demand, particularly for data center markets in the United States, China and Asia Pacific. Power generation products were $1,557 million of Power Systems sales, against $1,280 million a year earlier, and power generation was also the largest line in Distribution at $1,328 million. Power Systems EBITDA was 25.4% of sales, against 22.9%. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins' Engine sales rose 20% and Components 23% on stronger North American truck demand. Heavy-duty truck engine sales were $1,016 million against $772 million, and heavy-duty engine shipments rose to 33,200 units from 22,400. Light-duty automotive engine sales, which include pickup trucks, fell to $500 million from $583 million, and light-duty shipments to 44,800 units from 49,600; Cummins said pickup truck orders have weakened. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins' sales to customers in the United States were $5,427 million, against $4,663 million, with China at $974 million and India at $466 million. Cummins says its sales to four customers, PACCAR, Traton, Daimler and Stellantis, were 31 percent of consolidated net sales in 2025, and no single customer other than PACCAR was more than 7 percent. (Cummins Form 10-Q, Q3 2026, Nov 5, 2026; Cummins Form 10-K, 2025, Feb 10, 2026)

Cummins' Accelera segment sales fell 15% to $103 million, mainly on lower electrolyzer sales after the strategic review of that business, and it reported an EBITDA loss of $56 million, against a loss of $336 million a year earlier. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins reports only GAAP EPS. Diluted EPS was $8.25 in Q3 2026 against $3.86 a year earlier. The year-ago quarter included $240 million, or $1.73 per diluted share, of Accelera non-cash charges, and Q3 2026 included $0.54 per share of favorable discrete tax items. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins' effective tax rate was 17.7 percent, against 32.7 percent a year earlier. The quarter had net favorable discrete items of $75 million, mainly $38 million of adjustments for uncertain tax positions and $37 million of return to provision adjustments. EBITDA was a record $1,786 million, or 18.9% of sales, against 14.3%. (Cummins Form 10-Q, Q3 2026, Nov 5, 2026; Cummins Q3 2026 release, Nov 5, 2026)

Cummins' diluted weighted-average shares were 138.1 million, against 138.8 million a year earlier. It returned $661 million to shareholders in the quarter through dividends and buybacks, repurchased $833 million, or 1.4 million shares, over the first nine months of 2026, and raised its quarterly dividend from $2.00 to $2.20 per share in July. (Cummins Q3 2026 release, Nov 5, 2026; Cummins Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Cummins gives a full-year outlook in its release for revenue growth and EBITDA margin. With Q3 2026 results it cut 2026 revenue growth guidance to approximately 10%, from 10% to 13%, and set EBITDA margin at approximately 18.2%, within its prior 18% to 18.5% range and excluding first-quarter charges for the sale of the low-pressure fuel cell business. (Cummins Q3 2026 release, Nov 5, 2026)

Cummins CEO Jennifer Rumsey said the revision was primarily due to weaker than expected pickup truck demand in North America, which is expected to persist through year end, while global power generation and North America heavy duty truck demand remain strong. Cummins expects fourth quarter revenues to step up from third quarter levels and set a new record. (Cummins Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Cummins, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Cummins's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CMI is on is CMI a buy or a sell?, what analysts expect next is on the CMI forecast, and what the company does is on the Cummins (CMI) stock page.

Every number on this page can be traced to a document Cummins published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.