Cummins Inc. (NYSE: CMI), a leading provider of power solutions, reported higher net sales and earnings for the second quarter of 2023. The management reaffirmed its full-year guidance.
June quarter sales increased to $8.64 billion from $6.59 billion in the corresponding period of 2022. Net income attributable to the company was $720 million or $5.05 per share, compared to $702 million or $4.94 per share in the prior-year quarter.
The company said it is maintaining its full-year 2023 guidance — expecting revenue to be up 15 to 20% and EBITDA to be 15.0 to 15.7% of total sales.