2023-05-02 07:35:05 ET
- Cummins press release ( NYSE: CMI ): Q1 GAAP EPS of $5.55 beats by $0.77 .
- First quarter results include $18 million, or $0.10 per diluted share, of costs related to the separation of the Filtration business.
- Revenue of $8.45B (+32.0% Y/Y) beats by $320M .
- The company is raising its full year 2023 revenue guidance to be up 15 to 20 percent; an increase from previous guidance of up 12 to 17 percent.
- EBITDA is now expected to be in the range of 15.0 to 15.7 percent; an increase from previous guidance of 14.5 to 15.2 percent.
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Cummins GAAP EPS of $5.55 beats by $0.77, revenue of $8.45B beats by $320M