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Dana Incorporated (NYSE: DAN) is a global leader in the design and manufacture of highly efficient propulsion and energy-management solutions for vehicles and machines in all mobility markets worldwide. Based in Maumee, Ohio, Dana operates across four primary segments: Light Vehicles, Power Technologies, Commercial Vehicle, and Off-Highway. The Light Vehicles segment, catering to light trucks, SUVs, CUVs, vans, and passenger cars, generates the majority of the company's revenue.
Founded in 1904 by pioneers such as Clarence Spicer, Joseph Victor, Hugo Reinz, J.B. Long, and Charles Dana, the company has a rich legacy of innovation and risk-taking that continues to drive its mission today. Dana's diverse range of products includes drive and motion systems, electrodynamic technologies, software and controls, and thermal, sealing, and digital solutions. These offerings support nearly every vehicle manufacturer, making Dana a critical player in both conventional and clean-energy solutions.
In 2022, Dana reported sales of $10.2 billion and employed 42,000 people across 31 countries on six continents. The company continues to gain recognition for its ethical practices and responsibility, being named among the
Dana Incorporated (NYSE: DAN) has unveiled its new AdvanTEK® 40 Pro axle system, an evolution of its 40,000-pound 6x4 tandem axle system. The system features the industry's fastest axle ratio at 2.05 for advanced engine downspeeding and includes 18 total axle ratios. Key improvements include a high-capacity bearing system, increased payload capacity, and enhanced inter-axle differential with advanced coatings for better lubrication retention.
The system offers driver-controlled differential locking and an optional lubrication pump for extreme conditions. It will be available in select OEM 2025 data books. Dana, which reported sales of $10.6 billion in 2023 and employs 42,000 people globally, designed this system to meet evolving fleet requirements with improved efficiency and enhanced productivity.
Dana Incorporated (NYSE: DAN) has announced the appointment of Nora LaFreniere to its board of directors, effective immediately. LaFreniere currently serves as Executive Vice President and General Counsel of Otis Worldwide , where she oversees global legal, compliance, business development, intellectual property, security, government relations, quality, and environmental, health, and safety functions. Dana's Chairman and CEO R. Bruce McDonald highlighted LaFreniere's extensive experience in industrial businesses, particularly in strategy formulation and complex M&A transactions, as valuable assets for Dana's transformation and value creation plans.
Dana Incorporated (NYSE: DAN) has announced its participation in the UBS Global Industrials and Transportation Conference on December 4, 2024. The company's Senior Vice President and CFO, Timothy Kraus, will deliver a brief company overview and engage in a Q&A session lasting approximately 40 minutes, starting at 12:10 p.m. EST. Webcast access information will be made available on Dana's Investor website prior to the event.
Dana Incorporated (NYSE: DAN) announced significant changes including the appointment of R. Bruce McDonald as Chairman and CEO, replacing James Kamsickas who will serve as advisor through March 2025. The company revealed plans to sell its Off-Highway business and initiated a $200 million cost reduction plan to be achieved by 2026. The restructuring includes cuts in administrative costs and engineering expenses, particularly addressing delayed EV adoption. Dana reaffirmed its 2024 guidance with expected sales of $10.2-10.4 billion, Adjusted EBITDA of $855-895 million, and free cash flow of $90-110 million.
Dana Incorporated reported Q3 2024 financial results with sales of $2.48 billion, down from $2.67 billion in Q3 2023. Net income was $4 million ($0.03 per share), compared to $19 million ($0.13 per share) in Q3 2023. Adjusted EBITDA reached $232 million with a 9.4% margin, showing a 30-basis-point improvement despite lower sales due to weakening demand across markets, particularly in EVs and traditional vehicles. The company maintained its full-year free cash flow guidance at $100 million and revised its 2024 sales target to $10.2-10.4 billion.
Dana Incorporated (NYSE: DAN) has announced a quarterly dividend of $0.10 per share on its common stock, payable November 29, 2024, to shareholders of record as of November 8. The company, based in Maumee, Ohio, is a global leader in propulsion and energy-management solutions for mobility markets, reporting sales of $10.6 billion in 2023 with 42,000 employees across 31 countries. Dana specializes in drive and motion systems, electrodynamic technologies, and thermal, sealing, and digital solutions.
Dana Incorporated (NYSE: DAN) has been awarded the Powertrain Product of the Year at the Power Progress Summit 2024 for its Spicer™ eSP502 e-Transmission with Power Take-off (PTO). This award recognizes Dana's commitment to zero emissions and sustainable technology.
The e-Transmission features a dual motor, two-speed powershift transmission with an independently controllable PTO, allowing for vehicle-level optimization and lowering the total required installed power. It delivers maximum efficiency while ensuring functional safety compliance, reduces the number of motors and inverters required, and permits smooth operation during gear shift and power balancing.
This marks Dana's fifth award from the Diesel Progress Summit, highlighting the company's continued innovation in drive and motion technologies for the off-highway market.
Dana Incorporated (NYSE: DAN) has announced it will release its 2024 third-quarter financial results on Wednesday, Oct. 30, 2024. The company will issue a press release at approximately 7 a.m. EDT, followed by a conference call and webcast at 9 a.m. EDT. Senior management will be available to discuss the results and answer questions. The conference call can be accessed via telephone using the following details:
Conference ID: 9943139
Toll-Free Dial-In: 1 (888) 440-5873
Toll Dial-In: 1 (646) 960-0319
Audio streaming and slides will be available online at www.dana.com/investors. A webcast replay will also be accessible on the company's investor website after the call.
Dana Incorporated (NYSE: DAN) has appointed Seth Metzger as Senior Vice President and Chief Technology Officer (CTO), succeeding the retiring Christophe Dominiak. Metzger, a 20-year Dana veteran, most recently served as Senior Vice President of Electrification and President of the Dana TM4 joint venture. His extensive experience includes strategic leadership roles in engineering, such as Vice President of Engineering for Light Vehicle Driveline and Vice President of Global Corporate Engineering and Electrification.
Dana's Chairman and CEO, James Kamsickas, praised Metzger's deep knowledge of core engineering, systems integration, and complete vehicle architecture. Metzger, who holds a bachelor's degree in mechanical engineering and an MBA, was named a Rising Star by Automotive News in 2020.
Dana Incorporated (NYSE: DAN) has launched the Dana Certified Reman™ program for remanufacturing Dana Spicer™ Off-Highway drivetrain components. This initiative aims to extend equipment life cycles, support sustainability, and improve return on investment. The program will expand to 50 locations globally by the end of 2025.
Key features of the program include:
- Restoring components to like-new performance
- Shorter delivery times and competitive pricing
- Strict quality protocols and warranty support
- Sustainability benefits by reducing landfill waste and resource consumption
Approved service centers undergo rigorous evaluation across 20+ criteria. The remanufacturing process involves multiple stages, from initial assessment to final inspection. Certified components come with a warranty and a Dana-issued Certificate of Conformity.
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