Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Cummins (NYSE: CMI) and the best and worst performers in the heavy transportation equipment industry.

Heavy transportation equipment companies are investing in automated vehicles that increase efficiencies and connected machinery that collects actionable data. Some are also developing electric vehicles and mobility solutions to address customers’ concerns about carbon emissions, creating new sales opportunities. On the other hand, heavy transportation equipment companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the construction and transport volumes that drive demand for these companies’ offerings.

The 12 heavy transportation equipment stocks we track reported a mixed Q1. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

Thankfully, share prices of the companies have been resilient as they are up 8.6% on average since the latest earnings results.

Cummins (NYSE: CMI)

With more than half of the heavy-duty truck market using its engines at one point, Cummins (NYSE: CMI) offers engines and power systems.

Cummins reported revenues of $8.40 billion, up 2.7% year on year. This print exceeded analysts’ expectations by 0.9%. Despite the top-line beat, it was still a mixed quarter for the company with a decent beat of analysts’ EBITDA estimates but a miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 10.1% since reporting and currently trades at $722.95.

Is now the time to buy Cummins? Access our full analysis of the earnings results here, it’s free.

Best Q1: Douglas Dynamics (NYSE: PLOW)

Once manufacturing snowplows designed for the iconic jeep vehicle precursor, Douglas Dynamics (NYSE: PLOW) offers snow and ice equipment for the roads and sidewalks.

Douglas Dynamics reported revenues of $137.8 million, up 19.8% year on year, outperforming analysts’ expectations by 3.4%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Douglas Dynamics delivered the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 11.8% since reporting. It currently trades at $49.84.

Is now the time to buy Douglas Dynamics? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: Greenbrier (NYSE: GBX)

Having designed the industry’s first double-decker railcar in the 1980s, Greenbrier (NYSE: GBX) supplies the freight rail transportation industry with railcars and related services.

Greenbrier reported revenues of $587.5 million, down 22.9% year on year, falling short of analysts’ expectations by 11.5%. It was a disappointing quarter as it posted full-year revenue and EPS guidance missing analysts’ expectations.

Greenbrier delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update in the group. Interestingly, the stock is up 5.3% since the results and currently trades at $50.19.

Read our full analysis of Greenbrier’s results here.

Allison Transmission (NYSE: ALSN)

Helping build race cars at one point, Allison Transmission (NYSE: ALSN) offers transmissions to original equipment manufacturers and fleet operators.

Allison Transmission reported revenues of $1.41 billion, up 83.6% year on year. This number surpassed analysts’ expectations by 2.6%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ adjusted operating income and EPS estimates.

Allison Transmission pulled off the fastest revenue growth among its peers. The stock is down 5.5% since reporting and currently trades at $121.90.

Read our full, actionable report on Allison Transmission here, it’s free.

Trinity (NYSE: TRN)

Operating under the trade name TrinityRail, Trinity (NYSE: TRN) is a provider of railcar products and services in North America.

Trinity reported revenues of $492 million, down 16% year on year. This print missed analysts’ expectations by 8.7%. It was a disappointing quarter as it also produced a significant miss of analysts’ adjusted operating income and EPS estimates.

The stock is up 14.2% since reporting and currently trades at $35.13.

Read our full, actionable report on Trinity here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.