Cummins has reported first-quarter 2026 revenues of $8.4 billion, up 3% on the same quarter in 2025, and raised its full-year revenue guidance on the back of stronger demand in North America on-highway and power generation markets.
Sales in North America decreased 6% in the quarter, while international revenues increased 16%, primarily due to stronger demand in China.
Net income attributable to Cummins in the first quarter was $654 million, or $4.71 per diluted share, compared with $824 million, or $5.96 per diluted share, in 2025. The current-quarter results include charges of $199 million, or $1.44 per diluted share, related to the sale of the company’s low-pressure fuel cell business.
EBITDA in the first quarter was $1.3 billion, or 15.4% of sales, compared with $1.5 billion, or 17.9% of sales, a year ago. EBITDA for the first quarter of 2026 included the charges noted above.
“Cummins delivered strong results in the first quarter, led by record performance in our Power Systems segment. Our teams executed with discipline to meet continued strong demand for data center backup power and North America truck markets began to improve from a cyclical low,” says Jennifer Rumsey, Cummins’ CEO and chair.”We also recorded charges related to the sale of our low-pressure fuel cell business, reflecting lower hydrogen adoption expectations and our continued commitment to focusing investments and reducing losses within the Accelera segment.”
Cummins is raising its full-year 2026 revenue guidance to up 8% to 11%, citing stronger demand across several markets, particularly North America on-highway and power generation. EBITDA is expected to be in the range of 17.75% to 18.50%, up from prior guidance of 17.0% to 18.0%, excluding the charges related to the fuel cell business sale.
The company says it remains committed to its long-term strategic goal of returning 50% of operating cash flow to shareholders.
“We raised our 2026 outlook for revenue and profitability as demand strengthens across several key markets. We see North America on-highway markets improving, while demand for data center power generation across a range of our products continues to outpace expectations. Through the remainder of 2026, we are well-positioned to deliver strong financial performance, invest in future growth and return cash to shareholders,” adds Rumsey.
Among first-quarter highlights, Â Cummins announced the deployment of what it describes as the world’s first commercial hybrid-electric ultra-class mining truck in production at Caserones, an open pit copper-molybdenum mine in Tierra Amarilla, Chile, owned by Lundin Mining. The pilot marks Cummins’ first deployment of a retrofitted 300-ton Komatsu mining haul truck into daily operation, using a hybrid solution powered by its First Mode technology. The project aligns with Cummins’ Destination Zero strategy to support customers through the energy transition.
Image: CumminsÂ
