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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) will participate in the Credit Suisse Virtual Industrials Conference on Dec. 3, 2020. The company's Executive Vice President and CFO, Jonathan Collins, will engage in a fireside chat scheduled for 12:30 p.m. EST. Investors can access the webcast through Dana's Investor website, www.dana.com/investors. Dana, based in Maumee, Ohio, is a leader in power-conveyance and energy-management solutions, reporting sales of $8.6 billion in 2019.
Dana Incorporated (NYSE: DAN) has launched the production of new track drives in China, designed for various tracked construction machinery. These drives feature Spicer Torque-Hub™ ratings from 10 kNm to 130 kNm, enhancing diesel and electric-driven equipment. The local manufacturing in Yancheng, China, will shorten supply times and support the growing demand in China's construction market. Dana is also presenting its comprehensive range of drive systems at Bauma China, aiming to optimize efficiency and performance in tracked applications.
Dana (NYSE: DAN) has launched comprehensive drive systems for electric-driven mobile elevated work platforms (MEWPs) at Bauma China 2020. This includes a complete package featuring advanced technologies like Spicer Torque-Hub™ wheel drives and low-voltage internal permanent magnet motors. The new system enhances safety, efficiency, and reduces total ownership costs. Dana, with 24 facilities in China and a recent expansion in Yancheng, aims to support local manufacturers like JLG and Zoomlion, driving growth in the Chinese construction market.
Dana Incorporated (NYSE: DAN) has achieved the Chartered Institute of Procurement & Supply (CIPS) Procurement Excellence Program's Standard award, becoming the first automotive supplier globally and the first U.S. company to do so. This recognition stems from a thorough evaluation of Dana's procurement practices across five key areas: leadership, strategy, people, processes, and performance management. The award highlights Dana's commitment to ethical and efficient sourcing. The certification is valid for two years and reflects Dana's culture of continuous improvement in its supply chain operations.
Dana Incorporated (NYSE: DAN) announced that its Spicer® AdvanTEK® axles will feature in the new 2021 Land Rover Defender, enhancing performance and power density. Dana's relationship with Land Rover dates back to the 1980s, underscoring a long-standing partnership. The Defender's new architecture is designed for extreme conditions, showcasing Dana's commitment to durability and efficiency. Their technologies also improve engine performance through advanced thermal management and engine oil coolers. Dana reported $8.6 billion in sales for 2019 and maintains a strong global presence.
Dana Incorporated (NYSE: DAN) will participate in the Barclays 2020 Global Automotive Conference on November 18, 2020. Chairman and CEO James Kamsickas, along with CFO Jonathan Collins, will present an overview of Dana and address questions starting at 1:55 p.m. EST. Details for accessing the webcast will be available on Dana's Investor website before the event. Founded in 1904 and based in Maumee, Ohio, Dana is a leader in power-conveyance and energy-management solutions, with 2019 sales of $8.6 billion and over 36,000 employees worldwide.
Dana Incorporated (NYSE: DAN) received the Drivetrain Component of the Year Award for its Spicer® TE50 powershift transmission at the 2020 Diesel Progress Summit. This accolade recognizes innovative drivetrain components for commercial vehicles, enhancing productivity and performance. The Spicer TE50, designed for heavy-duty applications, improves fuel efficiency and operational efficiency with an electronically modulated design. It accommodates vehicles with 400 to 600 kW, featuring advanced gearboxes and integrated retarder technology, thus reducing brake wear and enhancing driving comfort.
Dana Incorporated (NYSE: DAN) announced an acquisition of a non-controlling stake in Pi Innovo LLC, a prominent player in embedded software and electronics control units. This investment aims to bolster Dana's capabilities in electric vehicles, enhancing its e-Propulsion systems and software solutions. CEO James Kamsickas emphasized the importance of controls in efficient e-Powertrain architectures, while Pi Innovo's CEO noted the partnership will expand their market reach. Dana, with $8.6 billion in sales in 2019, seeks to improve its electric vehicle offerings through this strategic collaboration.
Dana reported third-quarter 2020 sales of $1.99 billion, increasing by $916 million from Q2 2020 due to recovering demand after COVID-19 disruptions. However, this represents a decline from $2.16 billion in Q3 2019. Net income fell to $45 million from $111 million year-over-year, leading to diluted EPS of $0.31 versus $0.77 in 2019. Adjusted EBITDA was $201 million with a margin of 10.1%. The company reinstated its full-year guidance, projecting sales between $6.65 billion and $6.95 billion.
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