Cummins' Hydrogen Unit Drags Down Q4 EPS
(NYSE:CMI), a leader in power solutions, delivered its fourth-quarter earnings on Feb. 4. The company achieved revenues of $8.4 billion, surpassing analysts' consensus estimate of $8.07 billion. However, its diluted earnings per share (EPS) of $3.02 fell short of the expected $4.70. The quarter was generally positive, though, as several segments improved their profitability amid industry challenges.
Source: Analysts' estimates for the quarter provided by FactSet.
Cummins is a global power technology leader that designs, manufactures, and distributes engines, power systems, and components. It addresses markets ranging from traditional diesel engines to emerging hydrogen technologies. The company operates in five segments: engine, components, power systems, distribution, and Accelera (its hydrogen business). That diverse product portfolio is critical for market appeal and risk management. Its recent focuses have included inking strategic partnerships and expanding its footprint in sustainable technologies. These include the Accelera segment's work on electrolyzers and hydrogen fuel cells, and partnerships with automakers like Tata and Daimler.
Source Fool.com
Cummins Inc. Stock
Currently there is a rather positive sentiment for Cummins Inc. with 15 Buy predictions and 3 Sell predictions.
With a target price of 342 € there is a slightly positive potential of 13.43% for Cummins Inc. compared to the current price of 301.5 €.
