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 ...

MAUMEE, Ohio, Oct. 14, 2024 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) will release its 2024 thirdquarter financial results on Wednesday, Oct. 30, 2024. A press release will be issued at approximately 7 a.m. EDT, followed by a conference call and webcast at 9 a.m. EDT. 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 locations using the i ...

"Jeff [Bezos] always had a plan for this to be the company that we see today. " Dana Mattioli is an investigative journalist at The Wall Street Journal and the author of The Everything War: Amazon's Ruthless Quest to Own the World and Remake Corporate Power. In this podcast, Motley Fool host Mary Long caught up with Mattioli for a conversation about: Amazon's early days and how it withstood years of sustained losses. How Amazon makes Wall Street look genteel. The lengths that the company went to to get info ...

LAS VEGAS, Sept. 24, 2024 /PRNewswire/ -- Today at MINExpo®, Dana Incorporated (NYSE: DAN) debuted a new certified remanufacturing program for Dana Spicer™ Off-Highway drivetrain components that extends equipment life cycles, supports sustainability initiatives, and improves return on investment. Currently available at Dana facilities across Europe, the Dana Certified Reman™ program will extend to an additional 50 locations in North America, Europe, the Middle East, Africa, and China by the end of 2025. "Th ...

Dana (DAN) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing earnings ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Valu ...