Cummins said its revenues for Q4 2023 were $8.5 billion and its net loss was $1.4 billion, or $(10.01) per diluted share. The company said the results reflect a charge of $2.04 billion related to the agreement to resolve U.S. regulatory claims.

1. 01

   Cummins said its revenues for Q4 2023 were $8.5 billion and its net loss was $1.4 billion, or $(10.01) per diluted share. The company said the results reflect a charge of $2.04 billion related to the agreement to resolve U.S. regulatory claims.

2. 02

   Cummins said full-year 2023 revenues were $34.1 billion, 21% higher than in 2022. It said net income was $735 million, or $5.15 per diluted share, down from $2.2 billion ($15.12 per share) in 2022.

3. 03

   The company said operating cash flow for 2023 was $4.0 billion, compared with $2.0 billion in 2022. It said it expects to pay $1.938 billion of the settlement payments in 2024 using existing liquidity and access to debt markets.

4. 04

   The company projected full-year 2024 revenues to decline 2% to 5% from the prior year, with EBITDA in the range of 14.4% to 15.4% of sales. The company said it anticipates slowing demand in the North American heavy-duty truck market and has already taken some cost-reduction actions.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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