MAUMEE, Ohio, Dec. 11, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that Nora LaFreniere has been appointed to the company's board of directors, effective immediately.Ms. LaFreniere serves as the Executive Vice President and General Counsel of Otis Worldwide Corporation, a global, publicly traded company. In this role, she oversees the company's global legal, compliance, business development, intellectual property, security, government relations, quality, and environmental, health, and ...

MAUMEE, Ohio, Dec. 2, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today it will participate in the UBS Global Industrials and Transportation Conference on Dec. 4, 2024. Beginning at 12:10 p.m., EST, Dana's Senior Vice President and Chief Financial Officer, Timothy Kraus, will provide a brief overview of the company and answer questions for approximately 40 minutes.Information on accessing the webcast will be posted to Dana's Investor website, www.dana.com/investors, before the events.About ...

Financial Performance - Sales for Q3 2024 were $2.48 billion, down from $2.67 billion in Q3 2023, reflecting a decrease of approximately 7.1%[2] - Adjusted EBITDA for Q3 2024 was $232 million, representing an adjusted EBITDA margin of 9.4%, a 30-basis-point improvement compared to 9.1% in Q3 2023[1][2] - Net income attributable to Dana was $4 million, or $0.03 per share, compared to $19 million, or $0.13 per share in Q3 2023, indicating a decline of 78.9% in net income[2] - Operating cash flow for Q3 2024 was $35 million, down from $112 million in Q3 2023, a decrease of 68.8%[2] - Free cash flow for Q3 2024 was a use of $11 million, compared to a use of $5 million in Q3 2023[2] - Net income attributable to the parent company for the nine months ended September 30, 2024, was $23 million, significantly lower than $77 million in 2023, indicating a decline of 70.1%[11] - Earnings before interest and income taxes for the nine months ended September 30, 2024, were $262 million, down from $305 million in 2023, reflecting a decrease of 14.1%[11] - The company reported a total comprehensive income (loss) of $19 million for the three months ended September 30, 2024, compared to a loss of $21 million in the same period of 2023[12] Cash Flow and Liquidity - Total current assets decreased to $4,054 million as of September 30, 2024, compared to $4,103 million at the end of December 31, 2023, a reduction of 1.2%[14] - The company’s cash and cash equivalents decreased to $419 million as of September 30, 2024, from $529 million at the end of December 31, 2023, a decline of 20.9%[14] - Net cash provided by operating activities was $35 million, down from $112 million year-over-year[15] - The company reported a net decrease in cash and cash equivalents of $19 million for the current quarter[15] - Net cash provided by operating activities for the nine months ended September 30, 2023, was $198 million, down from $198 million in the previous year[16] Guidance and Projections - Full-year free cash flow guidance is maintained at $100 million[1] - Revised 2024 financial targets include sales of $10.2 to $10.4 billion and adjusted EBITDA of $855 to $895 million, implying an adjusted EBITDA margin of approximately 8.5% at the midpoint[3] - Diluted adjusted EPS for 2024 is projected to be between $0.75 and $0.95[3] - The company maintained full-year free cash flow guidance, with expectations of approximately $100 million, driven by higher profit and lower capital investment requirements[40] - The 2024 financial guidance anticipates sales of approximately $10.3 billion, reflecting a decrease of $400 million from prior guidance due to lower end-market demand[40] Market Conditions and Demand - Market demand for electric vehicles and traditional programs has softened, impacting sales expectations for the remainder of the year[2] - The company expects continued softening in demand across various end-markets, including agriculture and construction, impacting the second half of 2024[31] Operational Efficiency - The company is focusing on targeted cost-savings actions and reduced capital expenditures to improve profitability and cash flow into next year[2] - Company-wide efficiency improvements contributed to a year-over-year margin increase, despite lower organic sales driven by reduced demand for electric vehicles and commercial trucks[43] - The company is focusing on disciplined capital use to support new business growth while managing costs amid a challenging demand environment[31] Segment Performance - Light Vehicle segment sales decreased to $1,033 million in Q3 2024 from $1,084 million in Q3 2023, a decline of 4.7%[57] - Commercial Vehicle segment sales fell to $494 million in Q3 2024, down 7.7% from $535 million in Q3 2023[57] - Off-Highway segment sales decreased to $627 million in Q3 2024, down 15.1% from $739 million in Q3 2023[57] - Power Technologies segment sales increased to $322 million in Q3 2024, up 3.5% from $311 million in Q3 2023[57] Restructuring and Expenses - The company incurred restructuring charges of $24 million for the three months ended September 30, 2024, compared to $17 million in the same period of 2023, indicating an increase of 41.18%[22] - Corporate expenses and other items for the three months ended September 30, 2024, were $(1) million, compared to $(0) million in the same period of 2023[20]

Appoints Current Dana Director R. Bruce McDonald as Chairman and CEOAnnounces Plan to Sell Off-Highway BusinessInitiates $200 Million Cost Reduction PlanConfirms 2024 Full-Year Guidance Ranges for Sales, Adjusted EBITDA and Free Cash FlowMAUMEE, Ohio, Nov. 25, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced the appointment of R. Bruce McDonald, a member of the Dana Board of Directors, as Chairman and Chief Executive Officer, effective immediately. Mr. McDonald's appointment follows the re ...

October 30th was a very painful day for shareholders of Dana Incorporated (NYSE: DAN ). For those not familiar with the business, it focuses on servicing certain types of vehicles likeCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, and live chat discuss ...

Financial Data and Key Metrics Changes - Dana reported sales of $2.5 billion in Q3 2024, a decrease of $193 million compared to the previous year due to softening demand for electric vehicles and reduced sales of internal combustion engine vehicles [6][23] - Adjusted EBITDA for the quarter was $232 million, down slightly from last year, but profit margin expanded by 30 basis points to 9.4% [7][24] - Year-to-date sales were $7.95 billion, lower by $119 million, while year-to-date adjusted EBITDA was $699 million, $10 million higher than the previous year [23][24] Business Line Data and Key Metrics Changes - The off-highway segment experienced lower demand, particularly in Europe, affecting construction and agriculture equipment markets [9][15] - Traditional organic sales were about $100 million lower due to reduced OEM production of heavy vehicles and light truck programs, partially offset by market share gains [28] - EV organic sales declined by $54 million, driven by reduced end market demand, with adjusted EBITDA down by $25 million due to lower sales and higher launch costs [28][29] Market Data and Key Metrics Changes - Demand for ICE, hybrid, and electric vehicles is expected to continue weakening across most mobility markets, influenced by inflationary pressures and higher vehicle inventory levels [8][15] - The company anticipates flat demand for mining equipment and a continued decline in agriculture and construction equipment for the remainder of the year [15][16] - Light vehicle full-frame truck production volumes are expected to remain stable, but medium-duty and heavy-duty truck demand is softening [16] Company Strategy and Development Direction - Dana aims to maintain a disciplined approach while achieving balanced growth, focusing on technology innovations that support future growth [17] - The company is leveraging synergies and scale to maximize impact across all end markets, optimizing resources to meet demand for ICE, PHEV, and EV [18] - Dana's strategy includes a focus on cost structure flexibility and prudent capital use to support new business growth [18] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing inflationary pressures and global uncertainty impacting demand across markets, but emphasized strong operational execution leading to profit margin expansion [8][10] - The company expects continued softening in end markets and is preparing for a lower cost structure in 2025 [19] - Management expressed confidence in the company's ability to flex operations in response to market changes, maintaining a strong position despite challenges [77] Other Important Information - Dana's free cash flow for Q3 was a use of $11 million, with expectations to maintain full-year free cash flow guidance at $100 million, reflecting a $125 million improvement over last year [30][35] - The company is experiencing a significant decline in EV product sales expectations due to an industry-wide pause in demand [33] Q&A Session Summary Question: Guidance for 2024 and cost efficiencies - Inquiry about the significant drop in traditional organic revenue and the corresponding small decrease in EBITDA, seeking clarity on cost efficiencies [37] - Response highlighted that the falloff is primarily in heavy vehicle markets, where order cancellations can occur quickly, and emphasized better cost efficiencies [38][39] Question: Potential sale of off-highway division - Inquiry regarding media reports about selling the off-highway division and the feasibility of spinning off a division [42] - Management refrained from commenting on media speculation but acknowledged that spinning off divisions is always a possibility [43][44] Question: Off-highway business sale and market weakness - Inquiry about the status of the off-highway business sale and the reasons for market weakness in construction and agriculture [49][50] - Management confirmed that the buyer's financing fell through and noted ongoing market weakness across various segments [52] Question: Cost performance and future profitability - Inquiry about the sustainability of cost performance improvements and their impact on long-term profitability [56] - Management confirmed that structural cost changes are expected to endure, with ongoing efforts to drive efficiencies [57] Question: Free cash flow expectations and CapEx - Inquiry about expected free cash flow in Q4 and considerations for 2025 regarding working capital and CapEx [62] - Management indicated strong cash flow expectations for Q4, driven by working capital and CapEx timing, while being cautious about future spending [63][76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From to Commission File Number: 1-1063 Dana Incorporated (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | |-------- ...

Dana (DAN) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -52%. A quarter ago, it was expected that this automotive equipment supplier would post earnings of $0.24 per share when it actually produced earnings of $0.31, delivering a surprise of 29.17%. Over the last four quarters, the ...

Sales of $2.48 billion Net income of $4 million Adjusted EBITDA of $232 million Adjusted EBITDA margin of 9.4 percent, a 30-basis-point improvement compared with 2023 Full-year free cash flow guidance maintained at $100 million MAUMEE, Ohio, Oct. 30, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced financial results for the third quarter of 2024. "Dana achieved 30 basis points of profit-margin improvement in the third quarter despite lower sales as a result of softening demand for both EV ...

MAUMEE, Ohio, Oct. 22, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced that it has earned the Powertrain Product of the Year Award for its Spicer™ eSP502 e-Transmission with Power Take-off (PTO) at the Power Progress Summit 2024 held in Chicago on Oct. 1-2.The award recognizes Dana's commitment to zero emissions — offering OEMs an easily integrated, fully electric driveline system to enhance the sustainability of their applications."Being honored with the Powertrain Product of the Year Award is ...