Cummins Inc. reported fourth-quarter 2024 revenues of $8.4 billion, a 1% decrease from the same quarter in 2023. Net income attributable to Cummins was $418 million, or $3.02 per diluted share, compared to a net loss of $1.4 billion, or $(10.01) per diluted share, in Q4 2023, which included a $2.0 billion charge related to settlement agreements.
The fourth-quarter results included $312 million, or $2.14 per diluted share, in charges related to the reorganization of the Accelera by Cummins segment. This reorganization was a strategic review to streamline operations and focus investments, as the adoption of certain zero-emissions solutions has been slower than anticipated in some regions.
For the full year 2024, Cummins achieved record revenues of $34.1 billion, flat compared to 2023, and record net income of $3.9 billion, or $28.37 per diluted share. Full-year EBITDA reached $6.3 billion, or 18.6% of sales. The company projects full-year 2025 revenue to be in the range of down 2% to up 3%, with EBITDA between 16.2% and 17.2% of sales, anticipating weaker demand in North America on-highway truck markets offset by strength in other key markets.
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