Board Appointments - Dana White, CEO of UFC, joins Meta's board, bringing expertise in brand building and global sports strategy [1][4] - John Elkann, head of Exor, joins with a background in investment management and global tech ventures [1][6] - Charlie Songhurst, a major tech investor and former Microsoft executive, joins with experience in M&A and partnerships [1][7] Expertise and Perspectives - New board members expected to contribute expertise in AI, wearables, and the future of human connection [2] - Dana White emphasizes his belief in the future of social media and AI, expressing excitement to help Meta grow [3] - John Elkann brings experience from managing diverse investments, including Ferrari, Stellantis, and The Economist Group [6] - Charlie Songhurst's background includes leading acquisitions like Yahoo and Skype, and focusing on Google's emergence [7] Meta's Strategic Focus - Meta is heavily investing in AI, including its large language model LlaMA [3] - The company aims to leverage new board members' expertise to tackle future opportunities in technology and human connection [2] Industry Context - Dana White's addition to the board highlights the growing intersection of live sports and big tech in a changing media ecosystem [5] - John Elkann's involvement underscores the importance of global tech investments and innovation [6] - Charlie Songhurst's experience reflects Meta's focus on strategic partnerships and acquisitions in the tech industry [7]

Dana White, CEO of the Ultimate Fighting Championship and a longtime friend of Donald Trump, is joining the board of Facebook parent Meta two weeks before the new administration begins. Meta CEO Mark Zuckerberg, who had a particularly tense relationship with Trump during the president-elect's first term in office, said in a Facebook post Monday that White has built the UFC "into one of the most valuable, fastest growing, and most popular sports enterprises in the world." "I've admired him as an entrepreneur ...

Meta on Monday announced Dana White will join the company's board of directors.White said he'd "never been interested" in joining a company's board before Meta's offer.White is the CEO of Ultimate Fighting Championship and an ally of Donald Trump's.Dana White, the CEO of Ultimate Fighting Championship and an ally to President-elect Donald Trump, is set to join Meta's board of directors, the company announced on Monday.AD "I've never been interested in joining a board of directors until I got the offer to j ...

MENLO PARK, Calif., Jan. 6, 2025 /PRNewswire/ -- Meta today announced that Dana White, John Elkann and Charlie Songhurst have been elected to the company's board of directors.Mark Zuckerberg, Founder and CEO of Meta, said, "Dana, John and Charlie will add a depth of expertise and perspective that will help us tackle the massive opportunities ahead with AI, wearables and the future of human connection.""I've never been interested in joining a board of directors until I got the offer to join Meta's board. I a ...

MAUMEE, Ohio, Dec. 18, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced the new AdvanTEK® 40 Pro axle system, the next evolution of its distinguished 40,000-pound 6x4 tandem axle system. Designed to meet evolving commercial vehicle fleet requirements with increased efficiency and enhanced overall productivity, the AdvanTEK 40 Pro axle system includes the fastest axle ratio at 2.05 for advanced engine downspeeding. "The new AdvanTEK 40 Pro axle system is a testament to our focus on developi ...

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 ...