Leading the industry into the next era of smarter, cleaner power

Destination Zero is our winning growth strategy

From the buses that take our kids safely to and from school to the trucks and trains that move goods around the world, backup power for critical infrastructure like hospitals and the distribution network that keeps them running, Cummins powers the world’s most demanding and economically vital applications.

To innovate, we harness our deep technical expertise and the diverse perspectives of employees around the world. The result is more than 100 years of delivering industry leading, efficient and dependable solutions that power our customers’ success and reduce our impact on the planet. This impact is what drew me back to Cummins nearly 25 years ago.

And two years ago, at our last Analyst Day, I was proud to be a part of introducing Destination Zero as our winning growth strategy – a strategy that leverages our unique position to lead the transition to zero emissions and outgrow our markets for decades to come.

Cummins’ strength is centered around our integrated suite of innovative technologies and capabilities, strong customer partnerships, financial strength to invest in our future at record levels and our skilled global workforce. And our Destination Zero is the right strategy because it leverages advancements and solutions from both our core and Accelera by Cummins businesses to:

• Meet our customers’ varied needs as they navigate the energy transition.
• Drive real-world greenhouse gas reductions, both now and into the future.
• Grow our business, regardless of the pace of adoption for zero-emissions solutions.

I’m proud to say that, with Destination Zero as our guide, we have continued to strengthen our position and execute both our strategy and financial commitments.

We are raising our financial expectations

Coming off a year of record revenue growth in 2023 ($34.1 billion), and as a result of our strengthening portfolio and opportunities in the market, I am proud and thrilled to announce we are raising our overall financial expectations for 2030. By 2030, we project Cummins revenue to be in the range of $43-48 billion, with earnings before interest, taxes, depreciation and amortization (EBITDA) to be in the range of 17-18%. I invite you to read more about what we shared with analysts here.

I am incredibly proud of the work our employees are doing to innovate for our customers and deliver power solutions the world depends on. I plan to use this newsletter as a forum to discuss how we are progressing on our strategy, highlight customer and employee stories, and share exciting developments, including how we are evolving our brand for the future.