CMI Cummins (CMI) Q3 FY25 earnings call
Cummins delivered strong Q3 FY25 results, driven by record performance in its Power Systems and Distribution segments, particularly from data center demand and light-duty truck volumes. This strength largely offset sharp declines in North American heavy- and medium-duty truck markets and increased tariff costs. The company is undergoing a strategic review of its electrolyzer business due to significantly lower demand, leading to substantial noncash charges. Management anticipates continued strength in power generation but expects near-term weakness in North America on-highway truck markets to
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CMI operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | This call Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Engine shipments to Stellantis | 29KWe shipped 29,000 engines to Stellantis for use in their Ram pickups in the first quarter of 2025, down 25% from 2024 level.Source: earnings call transcript | 34KWe shipped 34,000 engines to Stellantis for use in the Ram pickups in the second quarter of 2025, down 18% from 2024 levels.Source: earnings call transcript | 40KWe shipped 40,000 engines to Stellantis for use in their Ram pickups in the third quarter of 2025, up 44% from 2024 levels, driven by a ramp-up of model year '25 product, which was launched earlier this year.Source: earnings call transcript | 30KWe shipped 30,000 engines to Stellantis for use in the RAM pickups in the first quarter of 2026, up 4% from 2025 levels.Source: earnings call transcript | 33KWe shipped 33,000 engines to Stellantis for use in the ramp pickups in the second quarter of 2026, down 2% from a year ago.Source: earnings call transcript | +10% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.