Cummins Inc. (CMI) delivered mixed results in Q2 FY2026 on revenue of $9.5B versus the $9.3B estimate (+9.4% YoY) and EPS of $6.73. The next Cummins Inc. (CMI) earnings date is Nov 5, 2026. Below is the full Cummins Inc. earnings breakdown — the risk-adjusted verdict, price forecast, technicals, options and hedge-fund 13F holdings, decoded in plain English.
Cummins Inc. (CMI) Earnings Analysis — key stats
Next earnings date
Nov 5, 2026
Latest reported quarter
Q2 FY2026
Earnings verdict
Mixed
EPS beat rate
7 of last 8 (quarters above estimate)
Avg next-day move
±5.4% (over the last 8 reports)
Post-earnings direction
Up 6 / Down 2 (of the last 8 reports)
Implied move (next report)
±17.1% (options-derived · into Nov 5, 2026)
Institutional ownership
192.8% (13F as of 2026-06-30)
Top 10 holders
39.6% (of shares outstanding)
Insider activity
5 buys / 7 sells (recent Form 4 filings)
Revenue
$9.5B (vs $9.3B est · +1.4% surprise · +9.4% YoY)
EPS
$6.73 (vs $7.21 est · -6.7% surprise · +4.5% YoY)
Share price
$571.62 (-2.7%)
Market cap
$78.9B
Cummins Inc. (CMI) Earnings Analysis — beat / miss history
Quarter
Revenue
EPS
EPS surprise
Next-day move
Verdict
Q3 FY2026
$9.5B vs $9.3B est
$6.73 vs $7.21 est
-6.7%
+0.2%
Mixed
Q2 FY2026
$8.4B vs $8.4B est
$6.15 vs $5.63 est
+9.2%
+9.0%
Mixed
Q1 FY2026
$8.5B vs $8.1B est
$5.81 vs $5.10 est
+13.9%
-4.6%
Beat
Q4 FY2025
$8.3B vs $8.0B est
$5.59 vs $4.83 est
+15.7%
+7.8%
Beat
Q3 FY2025
$8.6B vs $8.4B est
$6.43 vs $5.23 est
+22.9%
+5.6%
Beat
Q2 FY2025
$8.2B vs $8.2B est
$5.96 vs $4.91 est
+21.4%
-0.5%
Mixed
Q1 FY2025
$8.4B vs $8.1B est
$5.16 vs $4.70 est
+9.8%
+6.2%
Beat
Q4 FY2024
$8.5B vs $8.3B est
$5.86 vs $4.80 est
+22.1%
+9.3%
Mixed
Top institutional holders
Holder
% outstanding
Shares
Value
QoQ change
Blackrock, INC.
8.3%
11.5M
$8.2B
-2.8%
Vanguard Capital Management LLC
6.5%
9.0M
$6.4B
+0.4%
Vanguard Portfolio Management LLC
5.4%
7.5M
$5.4B
+0.5%
State Street Corp
5.0%
6.9M
$4.9B
+1.5%
Fmr LLC
4.4%
6.1M
$4.3B
+12.1%
Fisher Asset Management, LLC
2.6%
3.6M
$2.6B
+2.8%
Geode Capital Management, LLC
2.3%
3.2M
$2.3B
-13.8%
Morgan Stanley
2.2%
3.1M
$2.2B
+1.4%
Bank Of America Corp /De/
1.4%
2.0M
$1.4B
+12.4%
Norges Bank
1.3%
1.8M
$1.3B
+100.0%
Recent insider transactions
Insider
Role
Date
Type
Shares
Value
Merritt Brett Michael
officer: V.P & Pres. - Engine Business
2026-05-19
Sell
218
—
Fetch Bonnie J
officer: EVP & President - Operations
2026-05-13
Sell
155
—
Stoner Nathan R
officer: VP - China ABO
2026-05-13
Sell
600
—
JACKSON DONALD G
officer: VP - Treasury & Tax
2026-05-14
Sell
90
$64143
JACKSON DONALD G
officer: VP - Treasury & Tax
2026-05-14
Sell
160
$113858
JACKSON DONALD G
officer: VP - Treasury & Tax
2026-05-14
Sell
480
$340974
Fetch Bonnie J
officer: EVP & President - Operations
2026-05-11
Sell
643
$451686
Belske Gary L
director
2026-05-12
Buy
306
—
What you'll find
Next Cummins Inc. (CMI) earnings date, the expected move and the estimates priced in
A clear Beat / Miss / In-line / Mixed verdict the moment Cummins Inc. reports
Revenue & EPS versus estimates, guidance and segment trends
Multi-lens price forecast — analyst, quant, technical and options views
Deep research: red flags, risk decoder and earnings-call sentiment
Technicals, options / implied volatility and unusual-activity signals
Hedge-fund and legendary-investor 13F holdings in Cummins Inc. (CMI)
Side-by-side peer and historical earnings comparison
Frequently asked questions
When is Cummins Inc.'s next earnings date?
Cummins Inc.'s (CMI) next scheduled earnings date is Nov 5, 2026. Magnisto shows the confirmed date, the options-implied expected move and the revenue and EPS estimates Wall Street is modeling into the report.
Did Cummins Inc. (CMI) beat or miss earnings?
In Q2 FY2026, Cummins Inc. (CMI) posted mixed results — revenue of $9.5B versus the $9.3B estimate (+1.4% surprise) and EPS of $6.73 versus $7.21 expected (-6.7% surprise). Magnisto decodes every Cummins Inc. (CMI) report into a clear Beat, Miss, In-line or Mixed verdict and checks whether guidance was raised, held or cut.
How often does Cummins Inc. beat earnings estimates?
Over its last 8 reported quarters, Cummins Inc. (CMI) beat Wall Street EPS estimates 7 times, most recently a mixed result in Q3 FY2026. Magnisto tracks every Cummins Inc. (CMI) quarter's revenue and EPS versus consensus and grades each one Beat, Miss, In-line or Mixed at a unified ±2% threshold.
How much does Cummins Inc. stock move after earnings?
Over its last 8 quarterly reports, Cummins Inc. (CMI) moved an average of ±5.4% the day after earnings — ranging from -4.6% (Q1 FY2026) to +9.3% (Q4 FY2024). The stock rose after 6 of those 8 reports and fell after 2. Heading into its next report on Nov 5, 2026, options-implied volatility is pricing in a move of roughly ±17.1% (derived). Magnisto tracks the realized post-earnings move for every Cummins Inc. (CMI) quarter alongside the beat/miss verdict — past moves don't predict the next one.
Who are the largest shareholders of Cummins Inc.?
Institutions hold about 192.8% of Cummins Inc.'s (CMI) shares outstanding as of the 2026-06-30 13F quarter. Its largest institutional holders include Blackrock, INC. (8.3%), Vanguard Capital Management LLC (6.5%), Vanguard Portfolio Management LLC (5.4%). Magnisto lists Cummins Inc.'s (CMI) top 13F holders with each stake size and its quarter-over-quarter change.
Are insiders buying or selling Cummins Inc. (CMI)?
In the most recent Form 4 filings Magnisto tracks, Cummins Inc. (CMI) insiders recorded 5 purchases and 7 sales — net selling. Insider transactions are one signal among many and are often routine (option exercises or scheduled 10b5-1 sales), so Magnisto shows the raw feed for you to judge.
What is the forecast for Cummins Inc. (CMI) stock?
Magnisto blends analyst price targets, quantitative research, technical trend and options-implied moves into a scenario range for Cummins Inc. (CMI), anchored to the current $571.62 share price, so you can weigh the bull, base and bear cases for Cummins Inc. side by side.
Is Cummins Inc. (CMI) a buy right now?
Magnisto does not give buy or sell tips. It gives you the institutional-grade evidence — the verdict, valuation, risks, technicals and hedge-fund 13F flows — so you can decide whether Cummins Inc. fits your own thesis and risk profile. This is research, not investment advice.