Cummins Inc. (NYSE: CMI), which manufactures and distributes a broad portfolio of power solutions, reported a decline in sales and revenues for the first quarter of 2025.
- First-quarter revenues declined 3% year-over-year to $8.2 billion, with North American sales dropping 1%, and international revenues falling 5% amid lower demand in Latin America and Asia Pacific
- Net income for the Q1 plunged to $824 million or $5.96 per share from $2.0 billion or $14.03 per share in the prior-year quarter
- EBITDA was $1.5 billion, or 17.9% of sales, in the March quarter, compared to $2.6 billion, or 30.6% of sales, a year ago
- During the quarter, the company introduced the X10 engine as part of its Cummins HELM platforms, replacing L9 and X12 engine platforms
- It also launched the new Cummins B7.2 diesel engine with the latest technology and advancements
- The management recently announced the acquisition of assets of First Mode, a provider of retrofit hybrid solutions for mining and rail operations