Cummins is raising its 2030 financial targets, CEO Jennifer Rumsey told analysts and shareholders at the company's Analyst Day on Thursday.
"Over the past two years, Cummins has navigated significant complexity while continuing to execute with discipline and deliver record performance," Rumsey says. "As a result, I am pleased to share we are raising our 2030 financial targets."
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In 2025, the company has $33.7 billion in revenue, driven by power systems and distribution, Rumsey says. In the first quarter, revenues were up 3% even as sales dropped 5% in North America.
It now expects revenues of $45 to $50 billion by 2030, up from its previous targets of $43 to $48 billion. Rumsey says growth will be driven by the Cummins HELM platform that aligns with 2027 North American regulations, an expansion of capacity in mining and power generation, a growing aftermarket, investments in Accelera, and improvements in operational excellence.
Brett Merritt, president of the Cummins engine business, told analysts the company's foundation is a strong one.
"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," he says.
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Mark Smith, chief financial officer, says Cummins has a track record of raising its performance cycle over cycle.
"We look forward to building upon our market leadership, global presence and financial strength in the coming years," he says. "We have continued to deliver top-quartile return on invested capital and generate meaningful returns for our shareholders."
