- Cummins press release ( NYSE: CMI ): Q4 Non-GAAP EPS of $4.52 in-line.
- Revenue of $7.8B (+32.2% Y/Y) beats by $590M .
- EBITDA in the fourth quarter was 14.2% of sales.
- Outlook: The company expects full year 2023 revenues to be up 12 to 17 percent, EBITDA expected to be in the range of 14.5 to 15.2 percent.
- Within the Components Segment, Cummins expects revenues of the Meritor business for 2023 to be between $4.5 billion to $4.7 billion, and EBITDA to be in the range of 10.3 to 11.0 percent of sales. The electric powertrain portion of the Meritor business has been integrated within the New Power portfolio with projected EBITDA losses of $55 million included in the overall guidance for that segment.
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The company plans to continue to generate strong operating cash flow and returns for shareholders and is committed to our long-term strategic goal of returning 50 percent of operating cash flow back to shareholders.
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Cummins Non-GAAP EPS of $4.52 in-line, revenue of $7.8B beats by $590M; initiates FY23 guidance