Cummins stock weighs record profit against tighter 2026 outlook

Published on 11/12/2026 at 15:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cummins stock faces a narrower 2026 sales outlook after record quarterly profitability. Data-center power demand is supporting the Power Systems business.

Power demand offsets truck weakness

Cummins reported record third-quarter profitability while lowering its 2026 revenue-growth outlook.
Power Systems benefited from strong demand linked to data-center construction.
Pickup-truck demand in North America remains the main pressure point for the outlook.

Cummins Inc., US2310211063, Illustration mit AI erstellt.

Cummins Inc. reported record third-quarter profitability on November 5, but reduced its full-year 2026 revenue-growth outlook as North American pickup-truck demand weakened. The company also highlighted a new battery-storage project that broadens its exposure to data-center infrastructure.

Record profit, tighter outlook

In its third-quarter release, Cummins reported revenue of 9.4 billion US dollars, up 13 percent from the year-earlier period. Net income attributable to Cummins rose to 1.14 billion US dollars from 536 million US dollars, while diluted earnings per share reached 8.25 US dollars.

EBITDA reached a record 1.8 billion US dollars, or 18.9 percent of sales, compared with 1.2 billion US dollars and a 14.3 percent margin a year earlier. The comparison benefited from 240 million US dollars of non-cash Accelera charges in the prior-year quarter, while the latest quarter included 0.54 US dollars per share of favorable discrete tax items.

Power Systems remains the growth engine

Power Systems sales increased 15 percent to 2.3 billion US dollars. Segment EBITDA rose to 582 million US dollars, lifting the margin to 25.4 percent from 22.9 percent. Cummins cited strong power-generation demand from data-center projects in the United States, China and Asia-Pacific.

The company said in August that its Power Generation business had been selected to supply battery energy storage systems for a large U.S. data-center project. Cummins described the project as its largest BESS deployment to date and said it is intended to help manage AI-driven load fluctuations.

Truck demand sets the next test

Management now expects full-year 2026 revenue growth of approximately 10 percent, compared with the previous range of 10 percent to 13 percent. The expected EBITDA margin remains approximately 18.2 percent. Cummins expects fourth-quarter revenue to rise from the third-quarter level and set a new record, supported by power generation and heavy-duty truck demand.

North American pickup-truck demand remains weaker than expected and is likely to persist through year-end. For investors, the outlook therefore depends on whether data-center orders and heavy-duty truck volumes can offset pressure in the pickup market.

Cummins stock traded at 413.85 euros on Lang & Schwarz at 3:42 p.m. CET on Thursday, November 12, 2026.