Strong Q2 Performance: Cummins reported revenues of $8.6 billion for Q2 2025, down 2% YoY. EBITDA increased to $1.6 billion (18.4% margin) compared to $1.3 billion (15.3% margin) a year ago, driven by record performances in the Distribution and Power Systems segments.

Power Systems Growth: The Power Systems segment achieved a 19% increase in revenues (totaling $1.9 billion) and record EBITDA of $433 million (22.8% of sales). Continued demand for Power Generation, particularly in data centers, is expected to sustain this performance, with a backlog extending out about 2 years.

Challenges in North America Truck Market: North America truck volumes declined significantly, with heavy-duty truck industry production down 27% and Cummins sales down 29% YoY. Expectations for Q3 predict a further drop of 25-30% in North America heavy- and medium-duty truck volumes due to low order rates, production down days, and economic uncertainties.