Cummins targets a record Q4 on power generation strength
As seen on the 24/7 Wall St. homepage on November 5, 2026.
Global power generation and North America heavy duty truck demand remain strong, and we expect fourth quarter revenues to step up from third quarter levels and set a new record.
A record fourth quarter is now the guidance bar at Cummins, even as Class 8 orders slide industry-wide on EPA rule uncertainty. Power generation demand is carrying the load, and management is betting it keeps doing so through year-end.
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Jennifer Rumsey, who serves as a director at 3M Company, made the forecast during Cummins' third-quarter earnings call, citing continued strength in two key end markets: global power generation and North American heavy duty trucking. The guidance sets a concrete bar, with management expecting fourth-quarter revenues to exceed all prior quarterly records.
The power generation segment is doing the heavy lifting. While Class 8 truck orders have been sliding across the industry amid uncertainty around EPA emissions rules, Cummins is leaning on data center, industrial, and backup power demand to offset that weakness and push revenues to a new high.
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The stock has not moved since the quote was made, suggesting the market is either already pricing in a strong finish to the year or waiting for harder evidence that the Q4 ramp will materialize. With EPA regulatory clarity still unresolved, the trajectory of the trucking side of the business remains the key variable to monitor heading into year-end.
If power generation demand holds and the truck market stabilizes even modestly, Cummins would enter the next fiscal year with a fresh revenue high-water mark as its baseline, resetting the expectations floor before a single new order is placed.