Cummins Inc. CMI reported earnings of $3.18 per share in first-quarter 2020, surpassing the Zacks Consensus Estimate of $2.18. Higher-than-expected contribution from Components and Engine segments led to the outperformance. EBITDA from the said segments came in at $279 million and $365 million, topping the consensus mark of $208 million and $243 million, respectively.The bottom line, however, declined from earnings of $4.20 a share recorded in first-quarter 2019. Cummins’ revenues also declined 16.7% year over year to $5,011 million in the reported quarter. However, revenues beat the Zacks Consensus Estimate of $4,946 million.Cummins Inc. Price, Consensus and EPS Surprise Cummins Inc. price-consensus-eps-surprise-chart | Cummins Inc. QuoteSegmental PerformanceSales for the Engine segment declined 19% year over year to $2,158 million. The segment’s EBITDA (excluding restricting actions) declined to $365 million (16.9% of sales) from $438 million (16.5% of sales) a year ago. Decline in global demand in truck and construction markets resulted in lower on- and off-highway revenues than the prior-year quarter.Sales for the Distribution segment totaled $1,814 million, down 9% year over year. Revenues from North America declined 11% and international sales were down 6% from the year-ago quarter. The segment’s EBITDA fell to $158 million (8.7% of sales) from $171 million (8.5% of sales) a year ago.Sales for the Components segment declined 19% from the prior-year quarter to $1,502 million. The segment’s EBITDA was $279 million (18.6% of sales) compared with the year-ago figure of $325 million (17.5% of sales). Sales in North America and international markets declined 24% and 12% year over year, respectively.Sales for the Power Systems segment declined 18% from the year-ago quarter to $884 million. The segment’s EBITDA declined to $77 million (8.7% of sales) in first-quarter 2020 from $138 million (12.8% of sales) in the year-ago period. Power generation and industrial revenues fell 8% and 30%, respectively, from a year ago.Sales for the New Power segment were $10 million. The segment recorded EBITDA loss of $43 million.Financial Position & OutlookCummins’ cash and cash equivalents were $1,691 million as of Mar 29, 2019, up from $1,129 million on Dec 31, 2019. Long-term debt totaled $1,580 million.Amid coronavirus-led uncertainty, Cummins scrapped its annual view. The company anticipates second-quarter results to take a severe hit due to disruptions across customer and supplier operations, and lower end-market demand. In a bid to conserve cash, Cummins is implementing various cost-cut initiatives including temporary reduction in salaries. The company targets 2020 capex to decline 25% from 2019 levels.Zacks Rank & Stocks to ConsiderCummins currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the same sector include Douglas Dynamics, Inc. PLOW, Spartan Motors, Inc. SPAR and Modine Manufacturing Company MOD, each carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Hottest Tech Mega-Trend of All Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cummins Inc. (CMI): Free Stock Analysis Report Douglas Dynamics, Inc. (PLOW): Free Stock Analysis Report Modine Manufacturing Company (MOD): Free Stock Analysis Report Spartan Motors, Inc. (SPAR): Free Stock Analysis Report To read this article on Zacks.com click here.