Cummins Raises 2030 Financial Targets, Announces Large-engine Capacity and Product Investments

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  • Cummins is raising its 2030 financial targets as a result of disciplined investment and execution of its strategy, stronger market positions, and rising demand.
  • Cummins is further expanding capacity and product investments to extend and strengthen positioning in mining and power generation markets.
  • Cummins is positioned to win through its global presence, broad portfolio, trusted partnerships and experienced people.
  • Cummins reaffirms strategy, positioning the company for continued profitable growth and shareholder returns.

COLUMBUS, Ind.--(BUSINESS WIRE)-- At a meeting with analysts and shareholders today, members of the leadership team of Cummins Inc. (NYSE: CMI), shared the Company’s plans to raise its long-term financial expectations for growth and profitability, relative to its prior Analyst Day, and deliver increasing returns to shareholders.

“Over the past two years, Cummins has navigated significant complexity while continuing to execute with discipline and deliver record performance,” said Jennifer Rumsey, Chair and Chief Executive Officer. “Since our last Analyst Day, we have continued to strengthen our position and execute on both our strategy and financial commitments, even as market conditions shifted. As a result, I am pleased to share we are raising our 2030 financial targets.”

“Cummins is able to succeed with our strategy because of our broad portfolio of innovative technologies and capabilities, trusted customer partnerships, global presence, experienced people and financial strength that allows us to invest in our future. All of this positions us to win in key markets.”

Brett Merritt, Engine Business President, highlighted the continued momentum of the Engine Business. "Profitable growth will be driven by factors we have visibility to — new product content, customer wins and a growing aftermarket — and the investment to support this growth is now in place. Our foundation is strong: leading products, long-standing customer partnerships, scale and a distribution network no one else can match."

Jenny Bush, Power Systems Business President, spoke to the segment’s operational transformation, capacity investments, and expanded portfolio. “Demand for reliable power is accelerating at an unprecedented pace, and we’ve positioned our Power Systems business to lead. Through disciplined investment, expanded capacity, deep vertical integration, and expansion into prime power, we’re scaling to meet that demand while consistently delivering value for our customers and investors.”

Lastly, Mark Smith, Chief Financial Officer, summarized the Company’s plans for growth, margin expansion and capital allocation. “Cummins has a proven track record of raising performance cycle over cycle, and we look forward to building upon our market leadership, global presence and financial strength in the coming years. Since our prior Analyst Day, we have continued to deliver top-quartile return on invested capital and generate meaningful returns for our shareholders. We are raising our expectations for revenue growth and margin expansion with significant opportunities ahead of us across businesses and regions.”

Webcast information

A copy of the presentation used in the meeting and a replay on the webcast is available at investor.cummins.com.

About Cummins Inc.

Cummins Inc., a global power leader, is committed to powering a more prosperous world. Since 1919, we have delivered innovative solutions that move people, goods and economies forward. Our five business segments—Engine, Components, Distribution, Power Systems and Accelera™ by Cummins—offer a broad portfolio, including advanced diesel, electric and hybrid powertrains; integrated power generation systems; critical components such as aftertreatment, turbochargers, fuel systems, controls, transmissions, axles and brakes; and zero-emissions technologies like battery and electric powertrain systems. With a global footprint, deep technical expertise and an extensive service network, we deliver dependable, cutting-edge solutions tailored to our customers’ needs, supporting them through the energy transition with our Destination Zero strategy. We create value for customers, investors and employees and strengthen communities through our corporate responsibility global priorities: education, equity and environment. Headquartered in Columbus, Indiana, Cummins employs approximately 67,400 people worldwide and earned $2.8 billion on $33.7 billion in sales in 2025. Learn more at www.cummins.com.

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse consequences resulting from entering into agreements with the U.S. Environmental Protection Agency, California Air Resources Board, the Environmental and Natural Resources Division of the U.S. Department of Justice and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024, including required additional mitigation projects, adverse reputational impacts and potential resulting legal actions; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; evolving environmental and climate change legislation and regulatory initiatives; any adverse consequences from changes in tariffs and other trade disruptions; changes in international, national and regional trade laws, regulations and policies; emissions deregulation; changes in taxation; global legal and ethical compliance costs and risks; future bans or limitations on the use of diesel-powered products; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services or not successfully developing new technologies and products to effectively address the energy transition; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; climate change, global warming, more stringent climate change regulations, accords, mitigation efforts, greenhouse gas regulations or other legislation designed to address climate change; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions, divestitures or exiting the production of certain product lines or product categories and related uncertainties of such decisions; increasing interest rates; challenging markets for talent and ability to attract, develop and retain key personnel; exposure to potential security breaches or other disruptions to our information technology environment and data security; the use of artificial intelligence in our business and in our products, services and features, and challenges with properly managing its use; political, economic and other risks from operations among, between and within numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; failure to meet sustainability expectations or standards, or achieve our sustainability goals; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2025 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at https://www.sec.gov or at https://www.cummins.com in the Investor Relations section of our website.

Media Contact:
Melinda Koski
External Communications Director
317-476-3293

Source: Cummins Inc.

Released May 21, 2026