Cummins (NYSE: CMI) reported earnings today. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Cummins beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.

Margins improved across the board.

Revenue details
Cummins booked revenue of $4.92 billion. The 12 analysts polled by S&P Capital IQ anticipated net sales of $4.73 billion. Sales were 19% higher than the prior-year quarter's $4.14 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $2.56. The 16 earnings estimates compiled by S&P Capital IQ forecast $2.27 per share on the same basis. GAAP EPS of $2.86 for Q4 were 55% higher than the prior-year quarter's $1.85 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 25.2%, 140 basis points better than the prior-year quarter. Operating margin was 12.0%, 140 basis points better than the prior-year quarter. Net margin was 11.1%, 240 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $4.31 billion. On the bottom line, the average EPS estimate is $2.06.

Next year's average estimate for revenue is $19.69 billion. The average EPS estimate is $9.83.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cummins is outperform, with an average price target of $117.00.