Stock Track | Cummins Plunges 6.13% in Pre-market After Q2 Earnings Miss Estimates

Stock Track

08/04

Cummins Inc. shares tumbled 6.13% in pre-market trading on Tuesday after the engine manufacturer reported second-quarter earnings that fell short of analyst expectations.

The company posted earnings of $6.73 per share, missing the FactSet consensus estimate of $7.23. Revenue for the quarter came in at $9.457 billion, surpassing the $9.330 billion estimate, and the company raised its full-year revenue growth outlook to 10-13%. However, the bottom-line miss overshadowed the positive aspects of the report, driving the stock lower in early trading.

Despite the profit miss, Cummins highlighted improving conditions in North American truck markets and robust demand for data center power generation as key business drivers.

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