Trump's tariff impact: Cummins India shares tank over 8% as parent company withdraws full-year guidance

Cummins' CEO Jennifer Rumsey said the company was withdrawing its full-year guidance due to “growing economic uncertainty driven by tariffs”.

“While the outlook for the remainder of the year remains unclear, we remain confident in our position and that our Destination Zero strategy is the right one,” said Rumsey. “Cummins is in a strong position to navigate through economic uncertainty, and we look forward to reinstating our forecast when conditions allow.”

According to a news report, the company reported net sales of $8.2 billion, down 3% from the same quarter in 2024, and above an analyst estimate of $8.17 billion, as per Finchat data.

The company said sales in North America decreased 1%, and international revenues decreased 5% due to lower demand in Latin America and Asia Pacific, which was partially offset by higher sales in China.

The company said the fall in sales in the engine and components segments in the three months through the end of March was partially offset by a rise in sales of its power systems and distribution segments.

Net income attributable to Cummins in the first quarter was $824 million, or $5.96 per diluted share, compared to $2.0 billion, or $14.03 per diluted share, in 2024. However, the company’s earnings still beat an analyst estimate of $4.92, news reports added.