Cummins (NYSE: CMI) is expected to report Q2 earnings on July 31. 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' revenue will decrease 3.5% and EPS will decrease 6.2%.
The average estimate for revenue is $4.48 billion. On the bottom line, the average EPS estimate is $2.26.
Revenue details
Last quarter, Cummins reported revenue of $4.47 billion. GAAP reported sales were 16% higher than the prior-year quarter's $3.86 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
Last quarter, EPS came in at $2.38. GAAP EPS of $2.38 for Q1 were 36% higher than the prior-year quarter's $1.75 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Recent performance
For the preceding quarter, gross margin was 26.8%, 200 basis points better than the prior-year quarter. Operating margin was 12.1%, 70 basis points better than the prior-year quarter. Net margin was 10.2%, 130 basis points better than the prior-year quarter.
Looking ahead
The full year's average estimate for revenue is $18.14 billion. The average EPS estimate is $9.24.
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 $130.73.
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