Welcome to our dedicated page for Dana news (Ticker: DAN), a resource for investors and traders seeking the latest updates and insights on Dana stock.
Overview
Dana Inc (DAN) is a venerable institution in the design and manufacture of highly efficient propulsion and energy-management solutions, playing a pivotal role in powering vehicles and machinery across global mobility markets. With roots dating back more than a century, Dana has evolved from an era when motorized carriages were a novel idea to become a key developer of advanced drive systems and integrated thermal, sealing, and digital solutions. The company caters to a range of market segments including light vehicles, commercial vehicles, power technologies, and off-highway applications, consistently providing innovative solutions that enhance operational efficiency and performance.
Core Business Segments and Operations
The business model of Dana Inc is structured around four primary segments:
- Light Vehicles: This segment focuses on supplying advanced propulsion, drive, and motion solutions tailored for light trucks, SUVs, crossovers, vans, and passenger cars. Here, design precision and operational reliability meet to support leading original equipment manufacturers (OEMs), ensuring vehicles achieve high efficiency and safety standards.
- Commercial Vehicles: Dana supplies robust drive systems and axle technologies that cater to commercial trucks and fleets. The company emphasizes engineered solutions that enhance durability, fuel efficiency, and overall vehicle performance in demanding operational conditions.
- Power Technologies: Through a blend of traditional and evolving technologies, this segment addresses the market demands for internal combustion engine support, as well as emerging hybrid and electric drivetrains. Its offerings emphasize energy management and power conversion efficiency while integrating advanced software and control systems.
- Off-Highway: Addressing sectors such as construction, mining, and industrial machinery, Dana’s off-highway division provides tailored solutions that encompass drive components, remanufacturing services, and electrified power systems. This segment underscores the company’s commitment to sustainability and cost efficiency in heavy-duty applications.
Innovation and Technological Advancements
At the heart of Dana Inc's enduring success is its emphasis on innovation and technological excellence. The company continuously adapts its product portfolio to meet the evolving demands of a shifting mobility landscape. Notable initiatives include its remanufacturing programs—designed to extend the lifecycle of components through the Dana Certified Reman program—and advanced electrified driveline systems that support the trending shift towards hybrid and zero-emission technologies. Industry-specific keywords such as propulsion, energy-management, and OEM integration are integral to Dana’s narrative, underlining the company’s expertise in engineering precision and operational efficiency.
By strategically investing in research and developing platforms that leverage high-performance materials and digital integration, Dana has refined its product design to enhance fuel efficiency, reduce maintenance costs, and elevate performance reliability. These innovations not only prolong asset life but also provide customers with a complete ecosystem of services and support across the vehicle production and aftermarket lifecycle.
Market Position, Operational Excellence, and Competitive Landscape
Dana Inc occupies a unique position within the competitive landscape, owing to its integrated business approach and longstanding partnerships with major OEMs worldwide. The company’s ability to blend traditional engineering with state-of-the-art technology has earned it a reputation for reliability and high performance. Its extensive product portfolio is complemented by targeted cost-saving initiatives and efficiency improvements, positioning it advantageously in both mature markets and emerging sectors.
The company faces challenges common to many industrial manufacturers, including cyclical market demands, the need for constant innovation, and the pressures of operational efficiency. However, through robust internal systems, a flexible cost structure, and a commitment to quality, Dana manages to mitigate market volatility while reinforcing its client relationships and market significance.
Customer Value Proposition and Industry Leadership
Dana Inc’s value proposition revolves around delivering high-performance solutions that are both reliable and innovative. Its products are meticulously engineered to meet the rigorous demands of a dynamic mobility market, ensuring optimal performance under varying conditions. Customers benefit from an integrated suite of systems that enhance vehicle efficiency, extend component life cycles, and reduce total ownership costs. This comprehensive approach underlines Dana’s commitment to not only designing superior components but also to offering complete solutions that support long-term operational success.
In addition, the company’s strong focus on research and development fosters a culture of continuous improvement, supporting a high-performance ethos that is reflected in its operational practices and product innovation. With advanced technologies that span conventional engine systems, hybrid solutions, and fully electrified drivetrains, Dana remains at the forefront of industry evolution, underscoring its formidable position in a competitive global market.
Commitment to Engineering Excellence and Global Impact
With deep engineering expertise and decades of industry experience, Dana Inc continues to drive sustainable progress in mobility technology. Its products are developed using a blend of engineering precision and innovative design principles, which are critical in addressing the needs of diverse global markets. From the high-performance drive systems in light vehicles to the robust, durable components found in off-highway and industrial applications, Dana’s solutions are a benchmark for quality and efficiency. The company’s ability to respond to market shifts—whether through advancements in electrification or process optimizations in manufacturing—demonstrates its agile and resilient business model.
Overall, Dana Inc is a powerhouse of innovation and engineering expertise. Its multifaceted operations, spanning several key segments of the automotive and industrial markets, make it an essential partner for OEMs worldwide. By consistently integrating advanced technology with proven engineering practices, Dana continues to deliver products that support operational efficiency, reliable performance, and long-term value creation for its global customer base.
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.
Dana Incorporated (NYSE: DAN) unveiled several advancements in its technology portfolio and aftermarket services for mining equipment at MINExpo®. Key highlights include:
- The new Dana Certified Reman™ program for Dana Spicer™ drive components, extending equipment life cycles and reducing total ownership costs.
- Showcasing drive and motion innovations improving efficiency and durability, including systems for electrifying mobile mining equipment.
- Introduction of an integrated fan solution for Brevini EvoMax® gearboxes used in mining conveyor applications.
- A Dana Brevini™ planetary gearbox with torque ranges up to 2,200 kNm for various mining applications.
The company also presented hybrid and zero-emission drivetrain solutions for underground loaders and drill rigs, demonstrating its commitment to sustainability and decarbonization in the mining industry.
Dana Incorporated (NYSE: DAN) has appointed Craig Price as Senior Vice President and President of Dana's Off-Highway Drive and Motion Systems, effective September 1, 2024. Price succeeds Jeroen Decleer, who passed away earlier this month. With over 14 years at Dana, Price most recently served as Senior Vice President of Purchasing and Supplier Development. He brings extensive global expertise and a deep understanding of the mobility business to his new role.
Dana, based in Maumee, Ohio, is a leader in propulsion and energy-management solutions for vehicles and machines across all mobility markets. The company reported sales of $10.6 billion in 2023 and employs 42,000 people across 31 countries. Dana has been recognized as one of the "World's Most Ethical Companies" for 2023 and 2024 by Ethisphere and as one of "America's Most Responsible Companies 2023" by Newsweek.
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