By Joe Light
Another major industrial company is withdrawing its guidance amid President Donald Trump's budding trade war.
Cummins reported earnings per share of $5.96 in the first quarter compared to the $4.85 expected by analysts compiled by FactSet. Revenue came in at $8.174 billion compared to the $8.175 billion analyst consensus.
The first-quarter results were lower than the $14.03 per-share earnings on $8.4 billion in revenue Cummins saw in the first quarter of 2024. Those results were distorted by the spinoff of Atmus Filtration Technologies.
Cummins withdrew its 2025 guidance, with CEO Jennifer Rumsey in a statement citing "growing economic uncertainty driven by tariffs."
Shares of Cummins fell 2.2% to $293.17 in premarket trading. This year, Cummins stock has fallen nearly 14%, compared to a 3.3% drop for the S&P 500.
Columbus, Ind.-based Cummins makes engines, electric-vehicle components and other power-related products.
Write to Joe Light at joe.light@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 05, 2025 08:32 ET (12:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.