Key Highlights

  • Third-quarter 2026 diluted EPS for Cummins came to USD 8.25, up from USD 3.86 a year before, on USD 9.44 billion in revenue, a 13% gain.
  • EBITDA set a fresh record at USD 1.79 billion, equal to 18.9% of sales, compared with 14.3% a year earlier, and favorable discrete tax items contributed USD 0.54 per share.
  • Full-year Revenue growth is now projected at about 10%, versus the earlier 10% to 13%, and EBITDA Margin is set near 18.2%, within a prior 18% to 18.5% range.
  • Rockwell Automation's outlook for fiscal 2027 calls for adjusted Earnings of USD 14.50 to USD 15.50 per share, compared with USD 13.42 in fiscal 2026.

Engine and Components Lift Revenue and Earnings

Cummins (NYSE:CMI) released third-quarter numbers on November 5, 2026. Sales rose 13% to USD 9.44 billion, and attributable Net Income jumped to USD 1.14 billion from USD 536 million. Engine sales grew 20% to USD 3.1 billion, while Components climbed 23% to USD 2.9 billion. Power Systems grew 15% to USD 2.3 billion and posted a 25.4% EBITDA margin, and Distribution gained 4%. Accelera lost USD 56 million on EBITDA against USD 103 million of revenue. The price response of the shares has not been verified. Within that, Power Systems generated USD 582 million of EBITDA from USD 2.3 billion in sales. Calculated, the net income advance of USD 604 million year over year represents roughly 113%.

Clean-Basis EPS Growth Is Smaller Than Headlines Suggest

Each period contained non-recurring elements. A year earlier, Accelera non-cash charges weighed USD 1.73 per share, whereas the latest quarter received a USD 0.54 per share lift from discrete tax items. Stripping both out yields approximately USD 7.71 this year against USD 5.59 last year, a climb near 38% derived from published numbers. The 18.9% EBITDA margin was characterized as a record. Quarterly Operating Cash Flow came to USD 1.41 billion. The company cut its revenue growth guidance to about 10%, which may signal a softer final stretch, though that reading is an inference. The quarterly Dividend remains USD 2.20 following a July increase. Even after adjustment, the roughly 38% advance is substantial, implying that Demand for engines and components strengthened beneath the surface.

Rockwell's Guidance Gives a Second Industrial Read

Rockwell Automation (NYSE:ROK) also published results on November 5, 2026. Its fiscal fourth-quarter revenue reached USD 2.33 billion, rising 1% reported and 3% organically, and adjusted EPS was USD 3.88 compared with USD 3.34. The full year brought USD 8.99 billion in sales and USD 13.42 in adjusted EPS, a 27% increase. For fiscal 2027, it guided reported sales growth between 4.5% and 7.5% along with adjusted EPS of USD 14.50 to USD 15.50. By calculation, the USD 15.00 midpoint is roughly 12% higher than fiscal 2026. Tariffs, a softer services Business and uneven demand are flagged as risks. Cummins generated USD 3.21 billion of operating cash flow during the first nine months of 2026, a figure that backs its payout.

Where Things Stand

Mostly thanks to firm Volume and margin gains, with tax and one-off charges flattering the comparison. Cummins (NYSE:CMI) grew revenue 13% and set a record 18.9% EBITDA margin, but with special items stripped out EPS climbed roughly 38%, while the unadjusted gain near 114% is simply arithmetic on two reported EPS figures. Lighter revenue guidance hints growth may be cooling. Rockwell's fiscal 2027 view supplies another reading on industrial demand. Both companies reported into a soft market, so share moves could reflect the broader tape as much as the numbers.