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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) has unveiled new metallic bipolar plates designed to enhance the performance of proton exchange membrane (PEM) electrolyzers for hydrogen fuel production. Showcased at Hannover Messe, these plates incorporate Dana's extensive design experience to improve efficiency and reduce electrical losses. Currently in prototype testing, commercial production is expected by late 2023. The company plans to install a major production line in Neu-Ulm, Germany, capable of producing up to 8 million plates annually. Dana aims to support the energy transition with innovations for both mobile and stationary fuel-cell applications.
Dana, listed on NYSE under the ticker DAN, will participate in the BofA Global Automotive Summit on April 4, 2023, starting at 11:20 a.m. EDT. Senior management will present an overview and address questions for about 40 minutes. Investors can access the webcast via Dana's Investor website prior to the event. Dana, based in Maumee, Ohio, reported $10.2 billion in sales in 2022, employing 42,000 people globally. The firm is recognized for its sustainable practices and was named one of "America's Most Responsible Companies 2023" by Newsweek.
Dana Incorporated (NYSE: DAN) has announced new initiatives focused on enhancing its electrification portfolio for the North American construction and off-highway markets. Key developments include the debut of the Spicer Electrified™ eSP502 e-Transmission, designed for various off-highway vehicles, and a modular drivetrain solution for telehandlers. Additionally, Dana will expand production capabilities at its Lafayette, Indiana facility to meet the increasing demand for compact track loaders. These strategic expansions position Dana as a leader in sustainable drive solutions, with a commitment to customer satisfaction and optimized manufacturing processes.
Dana Incorporated (NYSE: DAN) has announced an acceleration of its climate commitments, aiming for net zero greenhouse gas emissions by 2040. The company plans to reduce Scope 1 and 2 emissions by 75% by 2030, up from a prior target of 50%. To achieve these goals, Dana is implementing various renewable energy projects, including a solar power purchase agreement in Spain set to supply 240,000 MWh annually starting January 2025, and an operational wind facility in Texas generating 300,000 MWh annually. Dana's climate targets have been validated by the Science Based Target initiative, reflecting its commitment to sustainability.
Dana Incorporated (NYSE: DAN) announced its climate commitments have been validated by the Science Based Target initiative (SBTi). The company aims to reduce Scope 1 and 2 greenhouse gas emissions by over 50% and Scope 3 emissions by over 25% before 2030. This initiative is supported by leading organizations including the UN Global Compact and the World Resources Institute. Dana's approach involves enhancing operational efficiency, lowering energy consumption, and utilizing renewable energy. The validation emphasizes Dana's commitment to sustainability and positions it as a leader in climate action while supporting its customers' electrification journey.
Dana Incorporated (NYSE: DAN) announced its full-year 2022 financial results, reporting $10.2 billion in sales, a 14% increase from 2021. Operating cash flow reached $649 million, while free cash flow improved to $209 million. Adjusted EBITDA was $700 million, down from $795 million in 2021, largely due to inflation and supply chain issues. The company recorded a net loss of $242 million or $1.69 per share for the year, driven by a $191 million goodwill impairment. For 2023, Dana targets sales between $10.35 billion and $10.85 billion, anticipating improved profit margins as market conditions stabilize.
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