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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) will participate in the Gabelli Funds 46th Annual Auto Symposium on Oct. 31, 2022, at 11:30 a.m. PDT (8:30 a.m. EDT). The company's Chairman and CEO, James Kamsickas, will provide an overview and answer questions for about 30 minutes. Interested investors can access webcasts through Dana's Investor website prior to the event. Dana, based in Maumee, Ohio, reported $8.9 billion in sales in 2021 and is recognized for its commitment to sustainability.
Dana reported third-quarter 2022 sales of $2.54 billion, a $331 million increase year-over-year, driven by strong demand. However, the company faced a net loss of $88 million, influenced by non-cash goodwill impairment charges amid rising interest rates and inflation. Adjusted diluted EPS stood at $0.24 compared to $0.41 in 2021. The company generated $77 million in free cash flow, marking a significant improvement. Dana reaffirmed its full-year sales target of $10 to $10.2 billion and adjusted EBITDA guidance of $700 to $740 million.
Dana Incorporated (NYSE: DAN) announced a quarterly dividend of $0.10 per share, payable on December 2, 2022, to shareholders as of November 11, 2022. This decision comes as the company continues to demonstrate its commitment to shareholder returns while actively contributing to sustainable energy solutions.
With reported sales of $8.9 billion in 2021 and a workforce of 40,000 across 31 countries, Dana is recognized for its innovative contributions to the mobility market and was named one of "America's Most Responsible Companies 2022" by Newsweek.
Dana Incorporated (NYSE: DAN) showcased its suite of electrified solutions for the off-highway market at Bauma 2022, held from October 24-30 in Munich. The company highlighted advancements including Spicer e-Hub drives, electric driveline systems, and e-Motion solutions designed for construction equipment. Notable innovations include the new eSAW013 e-Hub drive delivering up to 13,000Nm of torque, enhancing productivity and efficiency by up to 30%. The exhibition reflects Dana's commitment to supporting sustainability objectives and providing comprehensive electric systems to meet growing market demands.
Dana Incorporated (NYSE: DAN) unveiled its Spicer Electrified eSP502 e-Transmission, aimed at enhancing vehicle electrification in construction, mining, material handling, and forestry sectors. This platform supports both dual and single motor configurations, providing up to 326 horsepower in the dual-motor version. Featuring a compact and modular design, it allows for easy adaptation to various vehicle applications. Dana's e-Transmission is currently available for order and is being showcased at Bauma from October 24-30, 2022.
Dana Incorporated (NYSE: DAN) will release its 2022 third-quarter financial results on Thursday, Oct. 27, 2022. A press release will be issued at 7 a.m. EDT, followed by a conference call at 9 a.m. EDT. The call will involve the senior management team discussing the results and answering questions. Dana reported $8.9 billion in sales for 2021, employing 40,000 people across 31 countries. The company emphasizes sustainability and has been recognized by Newsweek as one of "America's Most Responsible Companies 2022".
Dana Incorporated (NYSE: DAN) announced the launch of the Brevini EvoMax™ series of gearboxes for marine and offshore applications, introducing five new sizes and 14 redesigned models aimed at enhancing torque, efficiency, and service longevity. The gearboxes emphasize product flexibility and sustainability, addressing the rising demand for global shipping. They feature innovations such as lightweight housing, tailored gearing for smooth operation, and improved materials for low-temperature functionality. These gearboxes will be showcased at SMM 2022 from Sept. 6-9.
Dana Incorporated (NYSE: DAN) announced its participation in the J.P. Morgan Auto Conference on August 10, 2022. The company's Chairman and CEO, James Kamsickas, along with CFO, Timothy Kraus, will present starting at 12:45 p.m. EDT, discussing key company insights for approximately 35 minutes. Interested investors can find details for accessing the webcast on Dana's Investor website. Dana reported sales of $8.9 billion in 2021 and is recognized for its sustainability efforts.
Dana reported Q2 2022 sales of $2.59 billion, up $381 million from Q2 2021, driven by strong customer demand. Net income was $8 million, with diluted EPS at $0.06. Adjusted EBITDA decreased to $162 million from $233 million a year earlier, impacted by inflation and supply-chain issues. Free cash flow reached $167 million, a significant improvement of $180 million. The company targets 2022 sales between $10 billion to $10.2 billion and adjusted EBITDA of $700 million to $740 million.
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