Engine manufacturer Cummins Inc. (NYSE: CMI) announced Monday it has withdrawn its full-year 2025 guidance, citing rising uncertainty tied to the potential reintroduction of tariffs under a possible Trump administration.
“Due to growing economic uncertainty driven by tariffs we have withdrawn our full year forecast,” said CEO Jennifer Rumsey. “We look forward to reinstating our forecast when conditions allow.”
Prior to the withdrawal, Cummins had anticipated full-year revenue to range from a 2% decline to a 3% increase year-over-year, with projected earnings before interest, taxes, depreciation, and amortization (EBITDA) expected to fall between 16.2% and 17.2% of sales.
Despite headwinds, the company posted better-than-expected first-quarter results. Earnings per share came in at $5.96, down sharply from $14.03 a year earlier, yet still above analyst estimates compiled by Visible Alpha. Revenue fell 2.7% year-over-year to $8.17 billion, also exceeding expectations.
Segment performance was mixed. Sales grew in Cummins’ Distribution, Power Systems, and Accelera divisions, while declines were reported in its Engine and Components units.
Shares of Cummins rose around 2% in recent trading following the earnings release, though the stock remains down approximately 12% year-to-date.