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(Reuters) -Cummins withdrew its annual forecast on Monday, joining other vehicle manufacturers that are reassessing expectations as the industry grapples with the mounting uncertainty generated by U.S. President Donald Trump's sweeping import tariffs.
The U.S. truck-engine maker had previously projected 2025 revenue growth ranging from a 2% decrease to a 3% increase, with core profit expected to comprise 16.2% to 17.2% of sales.
"Due to growing economic uncertainty, the company is not providing an outlook for revenue or profitability for the remainder of 2025" Cummins said in its earnings release.
The North American trucking market, already dealing with an oversupply of equipment, is now confronted with new challenges arising due to the erratic import tariffs.
General Motors pulled its annual forecast earlier this month, days after pausing plans to buy back $2 billion of shares in the first half of the year.
For the quarter ended March 31, Cummins reported net income of $824 million, or $5.96 per share compared to $2 billion, or $14.03 apiece last year.
Quarterly profit came in lower as it included a $9.08 per share charge related to the split-off its remaining interest in Atmus Filtration Technologies and restructuring expenses of 15 cents per share.
Net sales for the first quarter came in at $8.17 billion, slightly below the estimates of $8.19 billion, according to data compiled by LSEG.
Shares of the company fell 1.5% in premarket trading.
(Reporting by Raechel Thankam Job and Aishwarya Jain in Bengaluru; Editing by Tasim Zahid)