Analysts on Wall Street project that Cummins (CMI) will announce quarterly earnings of $7.33 per share in its forthcoming report, representing an increase of 14% year over year. Revenues are projected to reach $9.33 billion, increasing 7.9% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 1.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Cummins metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Net Sales- Engine- Light-duty automotive' at $531.43 million. The estimate suggests a change of +9.4% year over year.
The consensus among analysts is that 'Net Sales- Engine- Heavy-duty truck' will reach $990.73 million. The estimate points to a change of +1.5% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Engine- Medium-duty truck and bus' will reach $969.65 million. The estimate indicates a change of +2.1% from the prior-year quarter.
Analysts expect 'Net Sales- Distribution' to come in at $3.35 billion. The estimate indicates a year-over-year change of +10.3%.
The consensus estimate for 'Net Sales- Accelera' stands at $69.52 million. The estimate suggests a change of -33.8% year over year.
Based on the collective assessment of analysts, 'Net Sales- Components' should arrive at $2.79 billion. The estimate indicates a year-over-year change of +3.2%.
The combined assessment of analysts suggests that 'Net Sales- Engine' will likely reach $3.08 billion. The estimate points to a change of +6.2% from the year-ago quarter.
Analysts predict that the 'Net Sales- Engine- Off-highway' will reach $550.31 million. The estimate indicates a change of +13% from the prior-year quarter.
According to the collective judgment of analysts, 'Unit shipments - Engine - Light-duty' should come in at 44,835 . Compared to the current estimate, the company reported 44,000 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Unit shipments - Engine - Heavy-duty' of 29,567 . The estimate is in contrast to the year-ago figure of 29,600 .
Analysts' assessment points toward 'Unit shipments - Engine - Medium-duty' reaching 82,145 . Compared to the present estimate, the company reported 73,400 in the same quarter last year.
Analysts forecast 'Unit shipments - Engine - Total' to reach 156,547 . The estimate is in contrast to the year-ago figure of 147,000 .
View all Key Company Metrics for Cummins here>>>Cummins shares have witnessed a change of -11.2% in the past month, in contrast to the Zacks S&P 500 composite's -1.5% move. With a Zacks Rank #3 (Hold), CMI is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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