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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 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.
Dana (NYSE: DAN) has been selected by Wacker Neuson Group to supply e-Propulsion systems for its compact construction vehicles in Europe, starting with the Kramer electric wheel loader 5065e. The multi-year program is set to commence production this year, featuring a comprehensive electrodynamic system that includes the Spicer Electrified™ eSG101 e-Transmission, dual Dana TM4™ SRI 200 motors, and a sophisticated APC 300 series controller. This partnership enhances Dana's role in expanding sustainable solutions in the construction sector and continues a collaboration with Wacker Neuson that spans over 20 years.
Dana Incorporated (NYSE: DAN) has announced a quarterly dividend of $0.10 per share, set to be paid on March 24, 2023, for stockholders on record as of March 3, 2023. This decision reflects the company's commitment to returning value to shareholders amidst its focus on sustainable progress and innovation in energy-management solutions. In 2021, Dana reported sales of $8.9 billion and has garnered recognition as one of "America's Most Responsible Companies 2023" by Newsweek. The company's operations span across 31 countries, with a workforce of approximately 40,000 employees.
Dana Incorporated (NYSE: DAN) announced the launch of a new hydrostatic driveline for telehandlers in North America, designed for lifting up to 12,000 pounds. This system features a modular architecture that allows for easy transition to hydrogen or battery-electric designs. Highlighted at the CONEXPO-CON/AGG 2023 tradeshow from March 14-18 in Las Vegas, the new driveline includes a Spicer® 312 dropbox for optimized performance, low-speed precision, and reduced fuel consumption. Dana aims to support the industry's shift to zero-emission vehicles, enabling flexibility for customers through a variety of driveline options.
Dana Incorporated (NYSE: DAN) is set to announce its 2022 fourth-quarter and full-year financial results on February 21, 2023. The press release will be issued at approximately 7 a.m. EST, followed by a conference call at 9 a.m. EST where the senior management team will discuss the results. Investors can access the call via the toll-free number 1 (888) 440-5873 or participate through the provided online streaming link. Dana, based in Maumee, Ohio, reported $8.9 billion in sales for 2021 and is recognized for its commitment to sustainability and responsible business practices.
Dana Incorporated (NYSE: DAN) announced a long-term supply agreement with Semikron Danfoss to secure silicon-carbide semiconductors for their inverter technologies. This partnership supports various mobility markets, including light-vehicle and commercial-vehicle sectors. The semiconductors will enhance system efficiency and power density, potentially increasing vehicle range. The agreement strengthens Dana's supply chain capabilities, meeting the growing customer demand for electrodynamic products. In 2021, Dana reported sales of $8.9 billion, emphasizing its commitment to sustainability and innovation.
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