Cummins (NYSE: CMI ) is expected to report Q3 earnings on Oct. 30. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Cummins's revenues will contract -11.2% and EPS will compress -12.7%.
The average estimate for revenue is $4.11 billion. On the bottom line, the average EPS estimate is $1.92.
Last quarter, Cummins recorded revenue of $4.45 billion. GAAP reported sales were 4.1% lower than the prior-year quarter's $4.64 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, non-GAAP EPS came in at $2.45. GAAP EPS of $2.47 for Q2 were 5.0% lower than the prior-year quarter's $2.60 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 27.2%, 130 basis points better than the prior-year quarter. Operating margin was 12.1%, 50 basis points worse than the prior-year quarter. Net margin was 10.5%, 40 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $17.10 billion. The average EPS estimate is $8.75.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cummins is outperform, with an average price target of $127.19.
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