Accelera by Cummins reported a Q3 2024 EBITDA loss of $115 million, even as sales climbed by 7% compared to the previous year’s quarter.
The hydrogen and electric spin-out cited increased electrolyser installations as the reason for the increase in EBITDA loss, up from $114m in Q3 2023.
“We continue to invest in the products and capabilities to support those parts of the business where strong growth is expected while reducing costs in areas where we access the prospects for growth have extended into the future,” explained Mark Smith, the Chief Financial Officer (CFO) at Cummins.
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