Cummins posts record Q2 revenue of $9.5B, raises full-year 2026 outlook
Cummins reported record second-quarter revenue of $9.5 billion and raised its full-year 2026 outlook on strong data-center power demand and improving North American truck markets.
- $9.5 billion
- $932 million
- $6.73
- $501 million
What Happened
Cummins reported record second-quarter revenue of $9.5 billion, up 9% from the same period in 2025, with North American sales up 8% and international sales up 12%, led by growth in China. Net income attributable to Cummins rose to $932 million, or $6.73 per diluted share, from $890 million, or $6.43 per diluted share, a year earlier. EBITDA was $1.7 billion, or 17.5% of sales, compared to $1.6 billion, or 18.4% of sales, in the prior year, with the decline largely due to higher incentive compensation tied to expected record full-year results. The second-quarter tax rate was 25.1%, including $29 million, or $0.21 per diluted share, of unfavorable discrete tax items.
up 10% to 13%
Raised from prior guidance of up 8% to 11%, citing stronger demand across several markets.
Hosted its 2026 Analyst Day, raising 2030 financial targets and announcing capacity and product investments in mining and power generation.
Announced an agreement with Circe Energy to provide natural gas generator sets for a High-Performance Computing data center in Texas.
Deliveries of HSK78 and QSK60 generator sets to Circe Energy are scheduled.
Reported record Q2 results and raised full-year outlook.
“Cummins delivered record second-quarter results, reflecting robust customer orders for standby power for data centers and improving North American truck markets. Rising demand and disciplined execution drove record performance as we continue to perform well in a complex macroeconomic environment.”
- Engine: $3.1 billion sales (up 6%); segment EBITDA $386 million, or 12.5% of sales, vs. $400 million, or 13.8%, a year ago; North America up 1%, international up 23% on China construction demand.
- Components: $2.9 billion sales (up 7%); segment EBITDA $381 million, or 13.2% of sales, vs. $397 million, or 14.7%; North America up 6%, international up 8% on U.S. and China truck demand.
- Distribution: $3.3 billion sales (up 9%); segment EBITDA $451 million, or 13.6% of sales, vs. $445 million, or 14.6%; North America up 13%, international up 1%, driven by power generation for data cen
- Power Systems: $2.3 billion sales (up 19%); segment EBITDA $552 million, or 24.5% of sales, vs. $430 million, or 22.8%; North America and international each up 19%, driven by data center power demand
- Accelera: $145 million sales (up 38%); segment EBITDA loss of $69 million; stronger eMobility demand, with Cummins committed to pacing zero-emissions investments under its Destination Zero strategy.
Cummins raised its full-year 2026 EBITDA guidance to 18.0% to 18.5% of sales, excluding charges related to the first-quarter sale of its fuel cell business. The company returned $501 million to shareholders in the second quarter through cash dividends and share repurchases, and increased its quarterly dividend to $2.20 per share from $2.00, marking the 17th consecutive year of increases. It also reiterated its long-term goal of returning 50% of operating cash flow to shareholders and said EBITDA margin is expected to be higher in the second half and full year 2026 than in the same periods of 2025.
Demand for data center power generation remains a key driver. In June, Cummins announced an agreement with Circe Energy to provide HSK78 and QSK60 natural gas generator sets for a High-Performance Computing data center in Texas, with deliveries from 2026 through 2030, using integrated microgrid controls designed to address power grid constraints, improve reliability and enable fast-start response capabilities in an era of unprecedented AI demand. Following the EPA's proposed emissions rule changes, Cummins will introduce its new X10 and X15 engines through a measured production ramp in Model Year 2027 while maintaining select legacy product availability. The platforms were recently showcased on the Forever Rising Tour.
Previously from Cummins Inc.
In July 2026, Cummins announced a phased Model Year 2027 launch plan for its new X10 and X15 engines, with limited production beginning in January 2027 and full production ramping through the year. The plan was introduced to adjust to proposed EPA emissions rule changes.
Background drawn from MotorClaw's earlier coverage of Cummins Inc.'s official releases.
Why this matters
Cummins' record results show how the engine and power systems maker is benefiting from surging data-center power demand and a recovering North American truck market. The company is raising its 2026 sales and profit guidance and increasing its dividend, signaling confidence in the second half. Investors and customers in trucking and power generation are directly affected.
Terms in This Story
- GAAP
- Generally Accepted Accounting Principles in the U.S. — the standard rules for financial reporting.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization; a common measure of operating profitability.
- EPS
- Earnings per share — a company's net income divided by its outstanding shares.
- Microgrid
- A localized power grid that can operate independently from the main grid, often used to ensure reliable power for facilities.
Summarised from the linked release; details can be imperfect — always verify against the original source.