Cummins (NYSE:CMI) 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 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 , still down 18.89% from its 52 week high of $186.72 set on November 8, 2019. 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 following 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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