MAUMEE, Ohio, Feb. 8, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) will release its 2023 fourth-quarter and full-year financial results on Tuesday, Feb. 20, 2024.  A press release will be issued at approximately 7 a.m. EST, followed by a conference call and webcast at 10 a.m. EST.  Members of the company's senior management team will be available at that time to discuss the results and answer related questions. The conference call can be accessed by telephone from both domestic and international locat ...

Salt Lake City, UT, Jan. 24, 2024 (GLOBE NEWSWIRE) -- WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQ:IDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles proudly announces a groundbreaking achievement in the commercial EV industry. The company has successfully integrated its high-power wireless charging technology into Kenworth's Class 6 electric trucks, specifically the K270E and K370E models, marking the first OEM-approved ...

MAUMEE, Ohio, Jan. 23, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that the company was recognized as a "Top Employer 2024" in 16 countries in which it operates. The company was also selected as a Top Employer across Europe and North America due to overall cross-country performance in those regions.  According to the Top Employer Institute, the respected award recognizes companies for drivers of high performance, including employee development, well-being and work environment, talent ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Dana (DAN) , which belongs to the Zacks Automotive - Original Equipment industry, could be a great candidate to consider.This automotive equipment supplier has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 165.63%.For the last reported quarter, D ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companie ...

MAUMEE, Ohio, Jan. 16, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that it has been named one of "America's Greatest Workplaces for Diversity" by Newsweek magazine for the second consecutive year.  The award recognizes the company's impact and commitment to building a culture that embraces and supports diversity. "We at Dana take pride in attracting terrific people from diverse backgrounds who work together to create a better world through acceptance and understanding," said Maureen P ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q3 2023 was $242 million, an increase of $50 million or 150 basis points compared to the same period last year, driven by strong operational execution and improved efficiency [6][42] - Sales reached $2.67 billion, a $134 million increase year-over-year, primarily due to strong customer demand and cost recovery efforts [9][16] - Net income attributable to Dana was $19 million, compared to a loss of $88 million in the previous year, which was impacted by a non-cash goodwill impairment charge [17] - Free cash flow was a use of $5 million, reflecting higher seasonal working capital requirements [10][43] Business Line Data and Key Metrics Changes - Traditional organic sales growth was $20 million, driven by higher demand and improved pricing, partially offset by the UAW strike's impact on light vehicle business [18] - EV organic sales increased by $81 million compared to last year, with adjusted EBITDA for EV up by $12 million, improving overall margins by 20 basis points [19] - Free cash flow usage was primarily due to increased working capital requirements, which were $115 million higher than last year, driven by higher inventory needs [20] Market Data and Key Metrics Changes - North America light vehicle production was significantly impacted by the UAW strike, resulting in $65 million lower sales in Q3 and an expected $185 million lower sales in October [31][33] - Demand in Europe showed slight improvement due to strong order backlogs, while Asia's production is expected to remain flat [34] - The North America Class 8 medium-duty truck market is expected to finish the year with a production increase of around 7% compared to 2022 [35] Company Strategy and Development Direction - The company is focused on leveraging its core operations, driving standardization and transformational change across the organization to improve operational efficiency and customer satisfaction [11] - Dana plans to maintain an aggressive launch cadence for 2023, with over 120 programs across traditional and EV markets, anticipating a more normalized cadence in 2024 [14] - The company is prepared to flex its operations in response to market demands and is committed to supporting its supply base during the ongoing UAW strike [30][101] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment is improving, with moderating steel prices and expectations for commodities to be a profit tailwind for the remainder of the year [63][128] - The company anticipates that once the UAW strike concludes, operational improvements and commodity cost benefits will positively impact financial performance [32][46] - Management expressed confidence in the resilience of the business to weather external disruptions, maintaining guidance for sales and profit ranges despite the strike [48][46] Other Important Information - The company has successfully completed or is nearing completion of four major programs, which account for over $2 billion in annual sales [40] - Adjusted EBITDA guidance for 2023 is expected to be about $850 million, with profit margins projected between 7.5% to 8% [47] Q&A Session Summary Question: Can you quantify the impact of the UAW strike on cash flow? - Management compared the situation to the COVID shutdown, indicating that the company has a playbook to manage the supply chain and ensure raw material availability [26][27] Question: How is the company managing EV investments amid mixed messages in the industry? - Management stated that the company is designed to be energy-source agnostic and can flexibly adjust spending based on market conditions [59][96] Question: What is the expected impact of the UAW strike on future sales and margins? - Management indicated that the low-end sales guidance assumes the strike continues, with significant impacts expected from Ford's production [72][73] Question: How does the company plan to achieve its break-even target for EV by 2025? - Management expressed confidence in achieving the target, noting that operational efficiencies and market demand will play crucial roles [85][108] Question: What are the expectations for the off-highway market in Q4? - Management indicated that there is no expected uptick in the off-highway market for Q4, but they have successfully managed recoveries from customers [115]

Depreciation (287) (270) Non-service cost components of pension and OPEB costs (10) (3) Corporate expense and other items, net 2 Stock compensation expense (5) (5) Strategic transaction expenses (2) (1) Distressed supplier costs (14) DANA INCORPORATED Restructuring charges, net (21) 1 Stock compensation expense (19) (13) Strategic transaction expenses (4) (6) Distressed supplier costs (26) Other items (1) $ 92$ (133) Earnings before interest and income taxes 305 24 Loss on extinguishment of debt (1) Interes ...

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, 2023 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) | Delaware | 26-1531856 | | --- | --- | | ...

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