AI-extracted from the 10-Q filed 2026-08-04 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Cummins' Q2 2026 net sales reached $9.5B (+9% YoY) driven by strong power generation demand in data centers, though net income fell 7% YTD to $1.6B due to a $199M fuel cell business exit charge.
Biggest Revenue Drivers
Distribution$3,320M+9% YoY
Higher demand for power generation equipment, especially in North America data center applications.
Components$2,431M+6% YoY
Higher emission solutions demand in China and North America; increased components and software sales.
Biggest Revenue Drivers
Total revenue: $9,457M+9% YoY
Distribution$3,320M+9% YoY
Higher demand for power generation equipment, especially in North America data center applications.
Components$2,431M+6% YoY
Higher emission solutions demand in China and North America; increased components and software sales.
Engine$2,349M+9% YoY
Higher medium-duty truck demand and off-highway construction sales, especially in China.
Power Systems$1,217M+15% YoY
Increased power generation sales from higher demand in China and North America.
Accelera$140M+43% YoY
Higher sales of electrified powertrains and electrolyzers.
Largest Expense Items
Cost of sales$6,992M-10% vs 2025 on volumetric basis
Higher volumes and favorable pricing offset increased compensation and freight costs.
Selling, general and administrative expenses$893M+15% YoY
Higher compensation expenses and increased consulting costs.
Research, development and engineering expenses$385M+8% YoY
Higher compensation expenses offset by Accelera restructuring reductions.
Other operating expense, net$62M+68% YoY
Q2 2026 immaterial; six-month figure includes $199M loss on fuel cell business sale and settlement.
Margins: Gross margin remained flat at 26.4% for six months YTD despite higher volumes and favorable pricing, as increased compensation expenses and product coverage costs offset gains. Operating margin compressed 0.5 percentage points to 12.5% in Q2, driven by higher SG&A spending on compensation and consulting.
Watch Items from the Filing
Accelera segment posted $69M EBITDA loss in Q2 2026 and $346M loss YTD; company exited low-pressure fuel cell business in Q1 2026 with $199M net charge. Slower adoption of zero-emission solutions and restructuring signal ongoing near-term losses.
Global tariffs, trade disruptions and geopolitical tensions create material uncertainty. Company states tariff net impact was immaterial in H1 2026 but acknowledges potential for significant adverse effects if tariffs escalate or persist.
EPA finalized repeal of GHG emission standards in February 2026 effective April 20, 2026. Company held $89M in GHG compliance credits at June 30, 2026; potential non-cash impairment if NHTSA removes credit compliance pathway.
Power Systems segment EBITDA surged 28% YoY in Q2 and 38% YTD, driven by data center power generation demand in China and North America. Strong operational leverage and favorable mix contributed to 24.5% EBITDA margin in Q2.
Company maintains strong liquidity with $3.9B cash/marketable securities and $4.0B revolving credit capacity. Debt-to-capital ratio improved to 35.6% at June 30, 2026 from 36.0% at year-end; Board increased quarterly dividend 10% to $2.20/share in July 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Tsien MatthewDirectorGrant or award · May 12, 2026
Stone John HDirectorGrant or award · May 12, 2026
Quintos Karen HDirectorGrant or award · May 12, 2026
Nelson Kimberly ADirectorGrant or award · May 12, 2026
Congress trading in CMI
20 transactions in CMI reported by 10 members of Congress under the STOCK Act, most recent trade Mar 31, 2026. Reported transactions, not recommendations.
About CUMMINS INC (CMI): stock profile, AI score and financials
CUMMINS INC (CMI) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores CMI at 60.7/100 on a composite quality score built from its SEC filings, placing it at rank #841 of 2,925 stocks — the top half of the AI-ranked universe. CMI scores in the top quartile across revenue scale (95.5), balance sheet strength (75.7). Areas of concern include revenue growth (27.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), CUMMINS INC reports quarterly revenue of $9.5B, net income of $968.0M, an operating margin of 13.5%. Top institutional holders of CMI by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. CMI trades on the NYSE exchange and files with the SEC under CIK 26172. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CMI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CUMMINS INC directly from SEC EDGAR.