Cummins Revenue Jumps 13% in Q3 as Power Demand Lifts Record Margins

Direct answer

Cummins, the engine and power equipment maker, had a strong third quarter. Revenue rose 13% to $9.4 billion, profit more than doubled from a year ago, and profit margins hit a record. At the same time, the company trimmed its full-year sales outlook because demand for pickup trucks in North America stayed weak.

What happened

Cummins reported its results on November 5, 2026. Third quarter revenue was $9.4 billion, up 13% from the same quarter in 2025. Sales in North America grew 15%, while international revenue rose 11%, led by growth in China.

Net income was $1.14 billion, or $8.25 per share, compared with $536 million, or $3.86 per share, a year earlier.

EBITDA, a measure of operating profit, reached a record $1.8 billion, or 18.9% of sales, compared with $1.2 billion, or 14.3% of sales, a year ago.

Cummins narrowed its full-year revenue growth outlook to about 10%, from a prior range of 10% to 13%. It kept its expected full-year EBITDA margin at about 18.2%, within its earlier range of 18% to 18.5%.

Chair and CEO Jennifer Rumsey said pickup truck demand in North America was weaker than expected and is likely to stay soft through the end of the year. She said global demand for power generation equipment remains exceptionally strong, driven by the data center buildout, and that fourth quarter revenue is expected to step up from third quarter levels and set a new record.

Why it matters for beginners

Cummins makes engines for trucks and equipment that generates electricity, so its results show two sides of the economy at once. Data centers need a lot of power equipment, and that demand is strong. Pickup truck buyers, on the other hand, are pulling back, and that softness was enough to trim the full-year sales outlook.

Record margins matter too. They mean the company kept more of each dollar of sales as operating profit, even while one of its markets slowed down. A trimmed outlook is not the same as a loss. Cummins still expects sales to grow about 10% for the full year.

One company can also move very differently from the wider market, which is why beginners often spread their money across many companies instead of betting on one. Our guide to diversification explains that idea in simple terms.

What to watch next

• Fourth quarter results, and whether revenue sets a new record as management expects.
• Pickup truck demand in North America through the end of the year.
• Power generation orders tied to data centers, which have been the strongest part of the business.

FAQ

What does Cummins do?

Cummins makes engines, power systems, and related parts for trucks, buses, construction equipment, and power generation.

Why did Cummins trim its outlook if profit rose?

Because pickup truck demand in North America was weaker than expected, and the company expects that softness to last through the end of the year. Strong power generation demand was not quite enough to offset it.

What is an EBITDA margin?

It is operating profit as a share of sales, measured before interest, tax, depreciation, and amortization. A higher margin means the company keeps more from each dollar of sales.

What drove the record margins?

Strong demand for power generation equipment and North American heavy-duty trucks, along with a better sales mix than a year ago.

Sources

Cummins, “Cummins Reports Strong Third Quarter 2026 Results,” November 5, 2026. https://www.cummins.com/en-na/news/releases/2026/11/05/cummins-reports-strong-third-quarter-2026-results

Business Wire, “Cummins Reports Strong Third Quarter 2026 Results,” November 5, 2026. https://www.businesswire.com/news/home/20261105285199/en/Cummins-Reports-Strong-Third-Quarter-2026-Results

This article is for general information and education only. It is not legal or financial advice.