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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 announced a cash tender offer to buy back $425 million of its 5.500% Senior Notes due 2024. This offer includes a consent solicitation for proposed amendments to eliminate restrictive covenants and reduce notice periods for redemptions. Holders tendering their Notes can receive up to $1,020 per $1,000 of Notes, depending on timing. The offer expires on May 26, 2021, with early tender eligibility by May 12. Acceptance of valid offers depends on securing at least $400 million in new debt securities. A concurrent redemption of all outstanding Notes is set for May 29, 2021, subject to conditions.
Dana reported first-quarter 2021 sales of $2.3 billion, up $337 million from last year, driven by strong demand in the light-truck, commercial-vehicle, and off-highway markets. Net income attributable to Dana rose to $71 million, with diluted EPS of $0.48. Adjusted EBITDA increased to $234 million, reflecting a 10.3% margin. Operating cash flow improved to $27 million. The company has revised its full-year sales guidance to $8.50 to $9.00 billion and adjusted EBITDA guidance to $920 million to $1.0 billion.
Dana Incorporated (NYSE: DAN) has declared a quarterly dividend of $0.10 per share, set to be paid on May 28, 2021, to shareholders as of May 7. This announcement highlights the company's commitment to returning value to its investors amidst its operations in the design and manufacture of propulsion and energy-management solutions.
In 2020, Dana reported sales of $7.1 billion and has been recognized for its sustainability efforts, being named one of 'America's Most Responsible Companies 2021' by Newsweek.
Dana Incorporated (NYSE: DAN) has expanded its support for Ford Motor Company by producing Spicer AdvanTEK Ultra axles with SmartConnect AWD systems at its Chongqing facility. This move enhances Dana's collaboration with Ford as it supplies components for vehicles like the Escape, Nautilus, and Corsair. The Spicer AdvanTEK Ultra axle offers best-in-class efficiency, reducing energy loss by up to 45%. Dana's innovative technologies aim to meet evolving emissions regulations and improve fuel efficiency, reflecting its commitment to sustainability and advanced automotive solutions.
Dana Incorporated (NYSE: DAN) announced that its Spicer driveline technologies are featured on the Ford F-600 Super Duty, awarded the 2021 Medium-Duty Truck of the Year by Work Truck magazine. Dana has equipped 12 of the 14 Truck of the Year winners since 2008, showcasing its commitment to quality solutions. The Dana 80 AdvanTEK rear drive axles and Dana 60 front drive steer axles enhance power density and durability, addressing customer needs in the light- and medium-duty market. With 2020 sales of $7.1 billion, Dana emphasizes sustainability and has earned accolades as a top employer.
Dana Incorporated (NYSE: DAN) is showcasing its innovative bipolar plate technology for fuel cell stacks at the Hannover Messe virtual tradeshow from April 12-16, 2021. With a focus on zero-emission vehicles, Dana's ultra-thin metallic plates can reduce fuel cell stack costs by up to 10%. The company reported $7.1 billion in sales in 2020 and continues to lead in the design of efficient propulsion and energy management solutions. Dana's commitment to sustainability was recognized as it was named one of 'America's Most Responsible Companies 2021' by Newsweek.
Dana Incorporated (NYSE: DAN) will announce its first-quarter financial results for 2021 on April 28. A press release will be shared at 7 a.m. EDT, followed by a conference call at 9 a.m. EDT. Senior management will discuss the results and answer questions. Participants can join via audio streaming or telephone, with details available on Dana's investor website. The company, which reported $7.1 billion in sales in 2020, is recognized for its focus on sustainability and high-performance culture.
Dana Incorporated (NYSE: DAN) will participate in the BofA Securities Global Automotive Summit on March 30, 2021, at 2:10 p.m. EDT. Executive Vice President and CFO Jonathan Collins will provide an overview of the company and engage in a Q&A session for approximately 35 minutes. Webcast access details will be available on Dana's Investor website before the event. In 2020, Dana reported sales of $7.1 billion and employs around 38,000 associates worldwide, recognized for its commitment to sustainability.
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