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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) announced the pricing of a $350 million offering of 4.500% Senior Notes due 2032. The net proceeds will be utilized, along with existing cash, to repay $349 million in outstanding borrowings under its senior secured term loan B facility. A group of financial institutions, including Citigroup and Barclays, are managing the offering. The offering's details are provided in a prospectus available through several investment services. Dana emphasizes its focus on efficient propulsion and energy-management solutions, contributing to sustainability across various mobility markets.
Dana announced a registered offering of $350 million in senior unsecured notes due 2032. The proceeds aim to repay $349 million in borrowings from its senior secured term loan B facility. This offering is part of Dana's ongoing financial strategy to manage its debt and strengthen its balance sheet. The company engages Citigroup, Barclays, and other financial institutions as joint-bookrunning managers for this offering. The offering is filed with the SEC under a previous registration statement.
Dana Incorporated (NYSE: DAN) will participate in the Barclays Global Automotive and Mobility Tech Conference on Nov. 18, 2021. The event, starting at 10 a.m. EST, will feature Chairman and CEO James Kamsickas and CFO Jonathan Collins, providing a company overview and answering questions for approximately 35 minutes.
Access details for the webcast will be available on Dana's investor website prior to the conference.
Dana Incorporated (NYSE: DAN) will participate in the 45th Annual Automotive Symposium titled "Batteries Included" on Nov. 1, 2021. The event, hosted by Gabelli Funds, will feature Jonathan Collins, Executive Vice President and CFO, presenting an overview and answering questions at 2:45 p.m. PDT (11:45 a.m. EDT). Webcast access information will be available on Dana's investor website before the event. Founded in 1904 and based in Maumee, Ohio, Dana reported $7.1 billion in sales in 2020 and is recognized for its commitment to sustainability.
Dana Incorporated reported third-quarter 2021 sales of $2.2 billion, up from $1.99 billion year-over-year, driven by robust demand in heavy-vehicle markets.
Net income reached $48 million, with diluted adjusted EPS of $0.41. Adjusted EBITDA was $210 million, reflecting profit margin compression due to raw material inflation.
The company revised its full-year sales target to $8.8 to $9 billion and adjusted EBITDA to $815 million to $875 million. Ongoing challenges include rising commodity costs and supply-chain disruptions.
Dana Incorporated (NYSE: DAN) has mutually agreed with Modine Manufacturing Company (NYSE: MOD) to terminate their acquisition of a portion of Modine's automotive thermal-management business. The deal, valued at one dollar, involved the assumption of specific financial liabilities. Both companies had been engaged in a lengthy regulatory review in Germany but decided it was no longer in their best interests to proceed. This decision marks a significant shift in Dana's strategic plans in the thermal management sector.
Dana Incorporated (NYSE: DAN) announced a quarterly dividend of $0.10 per share, payable on Nov. 26, 2021. This dividend will be distributed to shareholders recorded as of Nov. 5, 2021. Located in Maumee, Ohio, Dana is a leader in propulsion and energy-management solutions, reporting $7.1 billion in sales in 2020 and employing 38,000 associates globally. The company emphasizes sustainability and has been recognized as one of 'America's Most Responsible Companies 2021' by Newsweek.
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