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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) reported its 2024 Q2 financial results, showing improved performance despite market challenges. Sales totaled $2.74 billion, slightly down from $2.75 billion in Q2 2023. Adjusted EBITDA increased to $244 million (8.9% of sales), up from $243 million (8.8% of sales) in Q2 2023. Net income was $16 million ($0.11 per share), compared to $30 million ($0.21 per share) in Q2 2023.
Dana raised its full-year free cash flow guidance to $100 million, with Q2 free cash flow at $104 million. The company maintained its Adjusted EBITDA guidance while lowering sales outlook due to weakening demand in electric vehicles and traditional markets. Dana's revised 2024 financial targets include sales of $10.45 to $10.95 billion and Adjusted EBITDA of $875 to $975 million.
Dana Incorporated (NYSE: DAN) has announced a quarterly dividend of $0.10 per share on its common stock, payable on Aug. 30, 2024, to shareholders of record as of Aug. 9. Dana, based in Maumee, Ohio, is a global leader in propulsion and energy-management solutions for mobility markets. The company reported sales of $10.6 billion in 2023 and employs 42,000 people across 31 countries. Dana has been recognized for its ethical practices and corporate responsibility, earning accolades from Ethisphere and Newsweek. The company's focus on innovation, sustainability, and high performance has contributed to its global recognition as a top employer.
Dana Incorporated (NYSE: DAN) will release its 2024 second-quarter financial results on July 31, 2024. A press release will be issued at approximately 7 a.m. EDT, followed by a conference call and webcast at 9 a.m. EDT. The company's senior management will discuss results and answer questions. The call can be accessed via toll-free and toll dial-in numbers, with audio streaming and slides available on Dana's investor website.
Dana, based in Maumee, Ohio, is a leader in propulsion and energy-management solutions for mobility markets globally. The company reported sales of $10.6 billion in 2023 and has 42,000 employees 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.
Dana Incorporated (NYSE: DAN) has appointed Brian Pour as Senior Vice President and President of Dana Commercial Vehicle Drive and Motion Systems, effective July 22. Pour, with over 30 years of experience in the mobility industry, succeeds Aziz Aghili, who recently retired. Pour's background includes serving as President and CEO of Auria Solutions , and holding key roles at International Automotive Components, Lear , and Textron Automotive.
Dana's Chairman and CEO, James Kamsickas, highlighted Pour's proven global experience and deep technical and operational background as assets for leading Dana's Commercial Vehicle Business Unit. Dana, based in Maumee, Ohio, reported sales of $10.6 billion in 2023 and has been recognized for its ethical practices and corporate responsibility.
Dana Incorporated (NYSE: DAN) has appointed Lisa Amend as Senior Vice President and Chief Human Resources Officer, effective June 26, 2024. With over 20 years of experience in labor and employment law, Amend has a comprehensive background in HR-related litigation, labor relations, and executive compensation. She will oversee Dana's HR strategy, including talent acquisition, management, development, and diversity initiatives.
Amend has been with Dana for over 12 years, rejoining in 2020 as Senior Legal Counsel. Previously, she held senior roles at Marathon Petroleum and the law firm Taft, Stettinius & Hollister LLP. She holds degrees from Miami University, University of Cincinnati College of Law, and Bowling Green State University. Dana, a global leader in propulsion and energy-management solutions, reported $10.6 billion in sales for 2023 and employs 42,000 people worldwide.
Dana Incorporated (NYSE: DAN) received the 2024 Automotive News PACE Award for its electro-mechanical, infinitely variable transmission system. The technology allows vehicles to switch between engine-only, hybrid, and battery-only modes, reducing CO2 emissions and improving performance. Dana's innovative solution is being used in commercial vehicles like firetrucks and ARFF vehicles, offering sustainability benefits and reduced fuel consumption.
Dana Incorporated reported strong financial results for the first quarter of 2024 with increased sales, adjusted EBITDA, and improved free cash flow. Sales were $2.7 billion, net income was $3 million, and adjusted EBITDA was $223 million. The company raised its full-year free cash flow guidance by $25 million. Despite a $29 million charge related to the divestiture of the European hydraulics business, Dana's performance was robust, driven by stable demand, efficiency improvements, and strong profit growth.
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