Cummins (CMI) Q4 Earnings Miss Estimates, Revenues Rise Y/Y

Cummins Inc. (CMI) reported fourth-quarter 2023 earnings of $4.14 per share, which declined from$4.52 per share recorded in the corresponding quarter of 2022. The bottom line also missed the Zacks Consensus Estimate of $4.41 per share. Cummins’ revenues totaled$8.54 billion, up from $7.77 billion recorded in the year-ago quarter. The top line also beat the Zacks Consensus Estimate of$8.08 billion.Key TakeawaysIn the reported quarter, sales in the Engine segment were up 5% year over year to $2.8 billion. ...