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Overview of Dana Incorporated
Dana Incorporated (NYSE: DAN) is a globally recognized leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines across all mobility markets. Headquartered in Maumee, Ohio, USA, the company operates in over 30 countries across six continents, leveraging its global footprint to deliver cutting-edge technologies to nearly every major vehicle manufacturer worldwide. With a history dating back to 1904, Dana has been a pioneer in the transportation industry, consistently innovating to meet the evolving needs of its customers.
Core Business Segments
Dana's operations are organized into four primary business segments, each catering to distinct mobility markets:
- Light Vehicle: This segment focuses on providing advanced drivetrain and thermal technologies for passenger cars, SUVs, CUVs, vans, and light trucks. Products include axles, driveshafts, and thermal management systems designed to enhance vehicle efficiency and performance.
- Commercial Vehicle: Dana serves the medium- and heavy-duty truck markets with robust axles, driveshafts, and transmission systems. These products are engineered to withstand the demands of commercial applications while optimizing fuel efficiency.
- Off-Highway: Dana supplies drive and motion systems for off-highway vehicles used in construction, agriculture, mining, and material handling. This segment also includes hybrid and electric drivetrain solutions tailored to meet the industry's shift toward sustainability.
- Power Technologies: This segment specializes in thermal, sealing, and digital solutions that improve energy efficiency and durability across all mobility platforms, including both conventional and electrified systems.
Innovative Solutions and Market Leadership
Dana is at the forefront of the mobility industry's transition to electrification. The company offers a comprehensive portfolio of electrodynamic technologies, including e-axles, e-transmissions, and software-driven control systems. These solutions support the decarbonization goals of its customers while maintaining high levels of performance and reliability. Additionally, Dana's thermal management systems play a critical role in optimizing the efficiency of electric and hybrid vehicles.
Beyond electrification, Dana's commitment to innovation is evident in its development of advanced drivetrain systems, such as the award-winning Spicer™ eSP502 e-Transmission and the AdvanTEK® 40 Pro axle system. These technologies demonstrate Dana's ability to integrate traditional and next-generation solutions, meeting the diverse needs of its global customer base.
Global Footprint and Market Presence
With operations in over 30 countries, Dana serves a wide range of industries, including automotive, commercial trucking, construction, agriculture, and mining. Its extensive manufacturing and R&D capabilities enable the company to adapt to regional market demands and deliver localized solutions. Dana's products are integral to the operations of leading original equipment manufacturers (OEMs), reinforcing its position as a trusted partner in the mobility value chain.
Challenges and Competitive Landscape
As a Tier 1 supplier, Dana operates in a competitive environment alongside other major players in the automotive and industrial sectors. The company faces challenges such as market cyclicality, cost pressures from raw material inflation, and the capital-intensive nature of developing electrification technologies. However, Dana's strategic focus on operational efficiency, cost management, and innovation positions it to navigate these challenges effectively.
Commitment to Sustainability and Ethical Practices
Dana is committed to shaping sustainable progress through its clean-energy solutions and ethical business practices. The company has been recognized as one of the "World's Most Ethical Companies" and "America's Most Responsible Companies," reflecting its dedication to corporate responsibility and environmental stewardship.
Conclusion
With a diverse product portfolio, a global presence, and a strong emphasis on innovation and sustainability, Dana Incorporated is a pivotal player in the mobility industry. Its ability to integrate traditional and advanced technologies ensures its relevance across a broad spectrum of markets, making it a critical partner for OEMs and a significant contributor to the future of transportation.
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.
Dana Incorporated (NYSE: DAN) will participate in the Gabelli Funds 44th Annual Automotive Symposium on Nov. 2, 2020, at 1 p.m. (EST). The company's Chairman and CEO, James Kamsickas, along with CFO Jonathan Collins, will present an overview and engage in a Q&A session. Webcast access details will be available on Dana's Investor website prior to the event. Dana, based in Maumee, Ohio, reported $8.6 billion in sales in 2019, focusing on sustainable solutions for vehicles.
Dana Incorporated (NYSE: DAN) is set to release its 2020 third-quarter financial results on October 28, 2020, at 7 a.m. EDT. Following the release, a conference call will be held at 9 a.m. EDT, featuring members of the senior management team to discuss results and answer queries. Participants can access the call through audio streaming or by phone, with details available on the company's investor website. In 2019, Dana reported $8.6 billion in sales, employing 36,000 associates globally.
Dana Incorporated (NYSE: DAN) announced plans for a new facility in Pune, India, covering 50,000 square feet. This facility will produce Dana TM4 electric motors, inverters, and control units for electrified vehicles, aimed at supporting the growing demand for electric mobility. Scheduled to open later this year, the site will enhance Dana's capabilities in India, marking its 18th facility in the region. Dana's strategic investments and acquisitions since 2017 emphasize its commitment to electrification and expansion in the Asia-Pacific market.
Dana Incorporated (NYSE: DAN) will participate in the RBC Capital Markets Global Industrials Virtual Conference on September 15, 2020, at 3 p.m. EDT. During this session, Jonathan Collins, the Executive Vice President and CFO, will provide an overview of the company and engage in a Q&A session lasting approximately 30 minutes. Investors can access the webcast through Dana's Investor website prior to the event. Dana, founded in 1904, specializes in power-conveyance and energy-management solutions, reporting sales of $8.6 billion in 2019.
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