Filing Flows › Cummins (CMI) › Q2 2025
Cummins (CMI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Cummins (CMI) reported revenue of $8.6B for the second quarter 2025 (Q2 2025), -2% from a year earlier and +6% from the quarter before. Operating margin was 14.2%, net earnings $890M (10.3% of revenue).
Cummins, Q2 2025: revenue $8.6B (-2% year over year), operating margin 14.2%, net earnings $890M, operating cash flow $785M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.6B | +6% | -2% |
| Gross profit | $2.3B | +6% | +4% |
| Operating profit | $1.2B | +8% | +17% |
| Net earnings | $890M | +8% | +23% |
| Operating cash flow | $785M | — | — |
| Free cash flow | $554M | — | — |
What changed
Revenue was $8.6B in Q2 2025, down 2% year over year and up 6% from the previous quarter. On-highway (EBU market) was the largest line at 22% of revenue. On-highway (EBU market) lost $0.33B year over year (down 15%), 215% of the total change.
Gross margin was 26.4%, up 1.5 points from a year earlier. Operating profit was $1.2B, a 14.2% margin (up 2.3 points year over year). Operating expenses fell 8% while revenue fell 2%. Net earnings were $0.89B, up 23% year over year. The effective tax rate was 24.2%.
Operating cash flow was $0.79B, 85% of net income including minority interests. Non-cash charges added back $0.28B of depreciation and amortization. Working capital and other items used $0.42B. Capital expenditures of $0.23B left free cash flow of $0.55B.
Questions
What was Cummins' revenue in the second quarter 2025?
Cummins (CMI) reported revenue of $8.6B for the second quarter 2025 (Q2 2025), -2% from a year earlier and +6% from the quarter before.
Was Cummins profitable in the second quarter 2025?
Operating profit was $1.2B (14.2% of revenue) and net earnings $890M.
Source: Cummins 10-Q on SEC EDGAR.