Investing.com - Cummins reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cummins announced earnings per share of $3.18 on revenue of $5.01B. Analysts polled by Investing.com anticipated EPS of $2.18 on revenue of $4.93B. That with comparison to EPS of $4.2 on revenue of $6B in the same period a year before.Cummins had reported EPS of $2.56 on revenue of $5.58B in the previous quarter.Analysts are expecting EPS of $1.4 and revenue of $4.36B in the upcoming quarter.
Cummins shares are down 15% from the beginning of the year and are trading at $153.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 11.29% year to date.
Cummins shares gained 1.03% in pre-market trade the report.
Cummins follows other major Capital Goods sector earnings this month
Cummins's report follows an earnings missed by ASML ADR on April 15, who reported EPS of $0.93 on revenue of $2.44B, compared to forecasts EPS of $1.47 on revenue of $3.17B.
Lockheed Martin had beat expectations on April 21 with first quarter EPS of $6.08 on revenue of $15.65B, compared to forecast for EPS of $5.81 on revenue of $15.08B.
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