Dana Incorporated Reports 2025 First-quarter Financial Results in Line with Expectations; Maintained Sales and Adjusted EBITDA Guidance Ranges
Dana reported its Q1 2025 financial results with sales of $2.4 billion and net income of $25 million ($0.17 per share). The company maintained its sales and adjusted EBITDA guidance ranges for 2025.
Key highlights include:
- Adjusted EBITDA of $188 million with 8.0% margin
- Operating cash flow was negative $37 million
- Cost-savings plan accelerated to target $225 million in 2025
The company is proceeding with the sale of its Off-Highway business and managing tariff impacts through mitigation actions and customer recoveries. Dana's 2025 outlook projects:
- Sales range: $9.525-$10.025 billion
- Adjusted EBITDA: $925-$1,025 million
- Operating cash flow: $500-$600 million
- Adjusted free cash flow: $175-$275 million
- Diluted Adjusted EPS: $1.15-$1.65
Dana ha comunicato i risultati finanziari del primo trimestre 2025 con vendite per 2,4 miliardi di dollari e un utile netto di 25 milioni di dollari (0,17 dollari per azione). L'azienda ha confermato le previsioni di vendita e di EBITDA rettificato per il 2025.
I punti salienti includono:
- EBITDA rettificato di 188 milioni di dollari con un margine dell'8,0%
- Flusso di cassa operativo negativo per 37 milioni di dollari
- Piano di riduzione dei costi accelerato con l'obiettivo di 225 milioni di dollari nel 2025
L'azienda procede con la vendita del suo business Off-Highway e gestisce gli impatti tariffari attraverso azioni di mitigazione e recuperi dai clienti. Le previsioni per il 2025 di Dana sono:
- Fascia di vendite: 9,525-10,025 miliardi di dollari
- EBITDA rettificato: 925-1.025 milioni di dollari
- Flusso di cassa operativo: 500-600 milioni di dollari
- Flusso di cassa libero rettificato: 175-275 milioni di dollari
- Utile per azione diluito rettificato: 1,15-1,65 dollari
Dana informó sus resultados financieros del primer trimestre de 2025 con ventas de 2.4 mil millones de dólares y un ingreso neto de 25 millones de dólares (0.17 dólares por acción). La compañía mantuvo sus rangos de guía para ventas y EBITDA ajustado para 2025.
Los aspectos clave incluyen:
- EBITDA ajustado de 188 millones de dólares con un margen del 8.0%
- Flujo de caja operativo negativo de 37 millones de dólares
- Plan de ahorro de costos acelerado para alcanzar 225 millones de dólares en 2025
La empresa continúa con la venta de su negocio Off-Highway y gestiona los impactos arancelarios mediante acciones de mitigación y recuperaciones de clientes. Las perspectivas de Dana para 2025 son:
- Rango de ventas: 9,525-10,025 mil millones de dólares
- EBITDA ajustado: 925-1,025 millones de dólares
- Flujo de caja operativo: 500-600 millones de dólares
- Flujo de caja libre ajustado: 175-275 millones de dólares
- EPS ajustado diluido: 1.15-1.65 dólares
Dana는 2025년 1분기 재무 실적을 발표하며 매출액 24억 달러와 순이익 2,500만 달러(주당 0.17달러)를 기록했습니다. 회사는 2025년 매출 및 조정 EBITDA 가이던스 범위를 유지했습니다.
주요 내용은 다음과 같습니다:
- 조정 EBITDA 1억 8,800만 달러, 마진 8.0%
- 영업 현금 흐름은 마이너스 3,700만 달러
- 2025년 목표 2억 2,500만 달러의 비용 절감 계획 가속화
회사는 오프하이웨이 사업 매각을 진행 중이며, 관세 영향은 완화 조치와 고객 회수를 통해 관리하고 있습니다. Dana의 2025년 전망은 다음과 같습니다:
- 매출 범위: 95.25억~100.25억 달러
- 조정 EBITDA: 9억 2,500만~10억 2,500만 달러
- 영업 현금 흐름: 5억~6억 달러
- 조정 자유 현금 흐름: 1억 7,500만~2억 7,500만 달러
- 희석 조정 주당순이익: 1.15~1.65 달러
Dana a publié ses résultats financiers du premier trimestre 2025 avec un chiffre d'affaires de 2,4 milliards de dollars et un bénéfice net de 25 millions de dollars (0,17 dollar par action). L'entreprise a maintenu ses prévisions de ventes et d'EBITDA ajusté pour 2025.
Les points clés incluent :
- EBITDA ajusté de 188 millions de dollars avec une marge de 8,0 %
- Flux de trésorerie d'exploitation négatif de 37 millions de dollars
- Plan d'économies accéléré visant 225 millions de dollars en 2025
L'entreprise poursuit la vente de son activité Off-Highway et gère les impacts tarifaires par des actions d'atténuation et des récupérations auprès des clients. Les perspectives de Dana pour 2025 sont :
- Fourchette de ventes : 9,525 à 10,025 milliards de dollars
- EBITDA ajusté : 925 à 1 025 millions de dollars
- Flux de trésorerie d'exploitation : 500 à 600 millions de dollars
- Flux de trésorerie libre ajusté : 175 à 275 millions de dollars
- Bénéfice dilué ajusté par action : 1,15 à 1,65 dollar
Dana meldete seine Finanzergebnisse für das erste Quartal 2025 mit einem Umsatz von 2,4 Milliarden US-Dollar und einem Nettogewinn von 25 Millionen US-Dollar (0,17 US-Dollar pro Aktie). Das Unternehmen bestätigte seine Prognosen für Umsatz und bereinigtes EBITDA für 2025.
Wichtige Highlights sind:
- Bereinigtes EBITDA von 188 Millionen US-Dollar mit einer Marge von 8,0 %
- Operativer Cashflow war negativ mit 37 Millionen US-Dollar
- Beschleunigter Kosteneinsparungsplan mit dem Ziel von 225 Millionen US-Dollar im Jahr 2025
Das Unternehmen setzt den Verkauf seines Off-Highway-Geschäfts fort und steuert Tarifauswirkungen durch Minderungsmaßnahmen und Kundenerstattungen. Die Prognose von Dana für 2025 lautet:
- Umsatzspanne: 9,525 bis 10,025 Milliarden US-Dollar
- Bereinigtes EBITDA: 925 bis 1.025 Millionen US-Dollar
- Operativer Cashflow: 500 bis 600 Millionen US-Dollar
- Bereinigter Free Cashflow: 175 bis 275 Millionen US-Dollar
- Verwässertes bereinigtes Ergebnis je Aktie: 1,15 bis 1,65 US-Dollar
- Net income increased to $25M ($0.17/share) in Q1 2025 from $3M ($0.02/share) in Q1 2024
- Operating cash flow improved with lower cash use of $37M vs $102M in Q1 2024
- Cost-savings plan accelerated to $225M target for 2025
- Maintained full-year adjusted EBITDA guidance of $925M-$1,025M
- Sales guidance increased slightly due to tariff recoveries and currency translation
- Q1 2025 sales declined to $2.35B from $2.74B in Q1 2024
- Adjusted EBITDA decreased to $188M from $223M year-over-year
- Adjusted EBITDA margin slightly declined to 8.0% from 8.2% in Q1 2024
- Negative operating cash flow of $37M in Q1 2025
- Previous European Off-Highway hydraulics business sale agreement terminated
- Weaker end-market demand noted in guidance update
Insights
Dana's Q1 mixed results maintain EBITDA guidance despite sales decline; accelerated cost-savings plan aims to offset market and tariff challenges.
Dana Incorporated's Q1 2025 results show a company balancing challenges with strategic transformation initiatives. Sales declined 14.1% to
More revealing is the substantial decline in adjusted net income to
Cash flow management demonstrates marked improvement with operating cash outflow reduced to
The company has accelerated its cost-savings program, now targeting
Despite challenges, Dana maintained its 2025 adjusted EBITDA guidance of
Dana's accelerated cost-savings and improved cash management offset volume pressures, demonstrating manufacturing resilience amid challenging conditions.
Dana's Q1 performance exemplifies the current manufacturing sector landscape where operational efficiency trumps volume growth. The
The accelerated cost-savings initiative targeting
Dana's improved cash flow metrics are particularly notable. Reducing operating cash outflow by
The planned divestiture of the Off-Highway business aligns with broader manufacturing sector trends toward portfolio optimization and focus on core competencies. This strategic initiative, described as a "competitive process," suggests Dana is pursuing value creation through focused operations rather than maintaining broader diversification.
Management's statement that tariff impacts are "manageable" through mitigation actions and customer recoveries indicates they've implemented effective supply chain adjustments and negotiated pass-through arrangements. This supply chain resilience is increasingly becoming a competitive differentiator in the manufacturing sector.
Dana's maintenance of full-year EBITDA guidance despite volume challenges signals confidence in their operational transformation and efficiency initiatives. The revised sales guidance, now above the midpoint of their previous range despite weaker end-market demand, suggests they've secured tariff recovery agreements and favorable currency translation benefits that partially offset volume declines.
First Quarter Highlights
- Sales of
$2.4 billion - Net income attributable to Dana of
, or$25 million per share$0.17 - Net income margin of 1 percent
- Adjusted net income of
, or$19 million per share$0.13 - Adjusted EBITDA of
$188 million - Adjusted EBITDA margin of 8.0 percent
- Operating cash flow was a use of
$37 million - Cost-savings plan accelerated, targeting
of savings in 2025$225 million
"Our efforts to transform the company into a stronger, more focused business are gaining momentum. The sale of our Off-Highway business is underway with a competitive process. We also continue to execute our cost-savings initiative and have taken further steps to accelerate the realization of our
Sales for the first quarter of 2025 totaled
Net income attributable to Dana was
During the first quarter of 2024, Dana entered into a definitive agreement to sell its non-core European Off-Highway hydraulics business. This business was classified as held for sale, and a
Adjusted net income attributable to Dana was
Adjusted EBITDA for the first quarter of 2025 was
Operating cash flow in the first quarter of 2025 was a use of
"Our focus on managing working capital continues to show results as we have once again improved adjusted free cash flow in the first quarter. Our cost-savings actions and efficiency improvements are helping to offset the impact of tariffs until we can affect full recovery," said Timothy Kraus, Dana senior vice president and chief financial officer. "We are maintaining our guidance ranges for most of our measures including adjusted EBITDA and we expect that sales will increase slightly due to tariff recoveries and currency translation offsetting weaker end-market demand."
Revised 2025 Financial Targets
- Sales above the midpoint of the range of
to$9.52 5 ;$10.02 5 billion - Adjusted EBITDA of
to$925 ;$1,025 million - Implied adjusted EBITDA of
9.7% to10.2% ; - Operating cash flow of approximately
to$500 ;$600 million - Adjusted free cash flow of
to$175 ; and$275 million - Diluted Adjusted EPS of
to$1.15 .$1.65
Dana to Host Conference Call at 9 a.m. Wednesday, April 30
Dana will discuss its first-quarter results in a conference call at 9 a.m. EDT on Wednesday, April 30. The conference call can be accessed by telephone from both domestic and international locations using the information provided below:
Conference ID: 9943139
Participant Toll-Free Dial-In Number: 1 (888) 440-5873
Participant Toll Dial-In Number: 1 (646) 960-0319
Audio streaming and slides will be available online via a link provided on the Dana investor website: www.dana.com/investors. Phone registration will be available beginning at 8:30 a.m. EDT.
A webcast replay can be accessed via Dana's investor website following the call.
Non-GAAP Financial Information
Adjusted EBITDA is a non-GAAP financial measure which we have defined as net income (loss) before interest, income taxes, depreciation, amortization, equity grant expense, restructuring expense, non-service cost components of pension and other postretirement benefit costs and other adjustments not related to our core operations (gain/loss on debt extinguishment, pension settlements, divestitures, impairment, etc.). Adjusted EBITDA is a measure of our ability to maintain and continue to invest in our operations and provide shareholder returns. We use adjusted EBITDA in assessing the effectiveness of our business strategies, evaluating and pricing potential acquisitions and as a factor in making incentive compensation decisions. In addition to its use by management, we also believe adjusted EBITDA is a measure widely used by securities analysts, investors and others to evaluate financial performance of our company relative to other Tier 1 automotive suppliers. Adjusted EBITDA should not be considered a substitute for earnings (loss) before income taxes, net income (loss) or other results reported in accordance with GAAP. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.
Adjusted net income (loss) attributable to the parent company is a non-GAAP financial measure which we have defined as net income (loss) attributable to the parent company, excluding any discrete income tax items, restructuring charges, amortization expense and other adjustments not related to our core operations (as used in adjusted EBITDA), net of any associated income tax effects. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to net income attributable to the parent company reported by other companies. Adjusted net income (loss) attributable to the parent company is neither intended to represent nor be an alternative measure to net income (loss) attributable to the parent company reported in accordance with GAAP.
Diluted adjusted EPS is a non-GAAP financial measure which we have defined as adjusted net income (loss) attributable to the parent company divided by adjusted diluted shares. We define adjusted diluted shares as diluted shares as determined in accordance with GAAP based on adjusted net income (loss) attributable to the parent company. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to EPS reported by other companies. Diluted adjusted EPS is neither intended to represent nor be an alternative measure to diluted EPS reported in accordance with GAAP.
Adjusted free cash flow is a non-GAAP financial measure which we have defined as net cash provided by (used in) operating activities less purchases of property, plant and equipment plus proceeds from sale of property, plant and equipment. We believe adjusted free cash flow is useful to investors in evaluating the operational cash flow of the company inclusive of the spending required to maintain the operations. Adjusted free cash flow is not intended to represent nor be an alternative to the measure of net cash provided by (used in) operating activities reported in accordance with GAAP. Adjusted free cash flow may not be comparable to similarly titled measures reported by other companies.
The accompanying financial information provides reconciliations of adjusted EBITDA, diluted adjusted EPS and adjusted free cash flow to the most directly comparable financial measures calculated and presented in accordance with GAAP. We have not provided a reconciliation of our adjusted EBITDA and diluted adjusted EPS outlook to the most comparable GAAP measures of net income (loss) and diluted EPS. Providing net income (loss) and diluted EPS guidance is potentially misleading and not practical given the difficulty of projecting event driven transactional and other non-core operating items that are included in net income (loss) and diluted EPS, including restructuring actions, asset impairments and certain income tax adjustments. The accompanying reconciliations of these non-GAAP measures with the most comparable GAAP measures for the historical periods presented are indicative of the reconciliations that will be prepared upon completion of the periods covered by the non-GAAP guidance.
Forward-Looking Statements
Certain statements and projections contained in this news release are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates, and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," and similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties, and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Dana's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss important risk factors that could affect our business, results of operations and financial condition. The forward-looking statements in this news release speak only as of this date. Dana does not undertake any obligation to revise or update publicly any forward-looking statement for any reason.
About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.
Based in
DANA INCORPORATED | |||||
Consolidated Statement of Operations (Unaudited) | |||||
For the Three Months Ended March 31, 2025 and 2024 | |||||
Three Months Ended | |||||
(In millions, except per share amounts) | March 31, | ||||
2025 | 2024 | ||||
Net sales | $ 2,352 | $ 2,735 | |||
Costs and expenses | |||||
Cost of sales | 2,132 | 2,491 | |||
Selling, general and administrative expenses | 132 | 139 | |||
Amortization of intangibles | 3 | 3 | |||
Restructuring charges, net | 5 | 5 | |||
Loss on disposal group previously held for sale | (29) | ||||
Other income (expense), net | (8) | 2 | |||
Earnings before interest and income taxes | 72 | 70 | |||
Interest income | 3 | 4 | |||
Interest expense | 39 | 39 | |||
Earnings before income taxes | 36 | 35 | |||
Income tax expense | 8 | 37 | |||
Equity in earnings of affiliates | 2 | 2 | |||
Net income | 30 | - | |||
Less: Noncontrolling interests net income | 5 | 5 | |||
Less: Redeemable noncontrolling interests net loss | (8) | ||||
Net income attributable to the parent company | $ 25 | $ 3 | |||
Net income per share available to common stockholders | |||||
Basic | $ 0.17 | $ 0.02 | |||
Diluted | $ 0.17 | $ 0.02 | |||
Weighted-average shares outstanding - Basic | 145.6 | 144.8 | |||
Weighted-average shares outstanding - Diluted | 147.0 | 144.8 |
DANA INCORPORATED | |||||||
Consolidated Statement of Comprehensive Income (Unaudited) | |||||||
For the Three Months Ended March 31, 2025 and 2024 | |||||||
Three Months Ended | |||||||
(In millions) | March 31, | ||||||
2025 | 2024 | ||||||
Net income | $ 30 | $ - | |||||
Other comprehensive income (loss), net of tax: | |||||||
Currency translation adjustments | 14 | (20) | |||||
Hedging gains and losses | 18 | (2) | |||||
Defined benefit plans | 1 | ||||||
Other comprehensive income (loss) | 32 | (21) | |||||
Total comprehensive income (loss) | 62 | (21) | |||||
Less: Comprehensive income attributable to noncontrolling interests | (5) | (4) | |||||
Less: Comprehensive loss attributable to redeemable noncontrolling interests | 11 | ||||||
Comprehensive income (loss) attributable to the parent company | $ 57 | $ (14) |
DANA INCORPORATED | ||||||
Consolidated Balance Sheet (Unaudited) | ||||||
As of March 31, 2025 and December 31, 2024 | ||||||
(In millions, except share and per share amounts) | March 31, | December 31, | ||||
2025 | 2024 | |||||
Assets | ||||||
Current assets | ||||||
Cash and cash equivalents | $ 507 | $ 494 | ||||
Accounts receivable | ||||||
Trade, less allowance for doubtful accounts of | 1,425 | 1,195 | ||||
Other | 236 | 261 | ||||
Inventories | 1,617 | 1,547 | ||||
Other current assets | 246 | 206 | ||||
Total current assets | 4,031 | 3,703 | ||||
Goodwill | 257 | 250 | ||||
Intangibles | 148 | 150 | ||||
Deferred tax assets | 579 | 560 | ||||
Other noncurrent assets | 137 | 189 | ||||
Investments in affiliates | 127 | 126 | ||||
Operating lease assets | 299 | 293 | ||||
Property, plant and equipment, net | 2,222 | 2,214 | ||||
Total assets | $ 7,800 | $ 7,485 | ||||
Liabilities, redeemable noncontrolling interests and equity | ||||||
Current liabilities | ||||||
Short-term debt | $ 130 | $ 8 | ||||
Current portion of long-term debt | 215 | 214 | ||||
Accounts payable | 1,659 | 1,522 | ||||
Accrued payroll and employee benefits | 273 | 236 | ||||
Taxes on income | 90 | 69 | ||||
Current portion of operating lease liabilities | 46 | 44 | ||||
Other accrued liabilities | 415 | 468 | ||||
Total current liabilities | 2,828 | 2,561 | ||||
Long-term debt, less debt issuance costs of | 2,428 | 2,389 | ||||
Noncurrent operating lease liabilities | 262 | 258 | ||||
Pension and postretirement obligations | 304 | 295 | ||||
Other noncurrent liabilities | 343 | 397 | ||||
Total liabilities | 6,165 | 5,900 | ||||
Commitments and contingencies | ||||||
Redeemable noncontrolling interests | 189 | 189 | ||||
Parent company stockholders' equity | ||||||
Preferred stock, 50,000,000 shares authorized, | ||||||
no shares outstanding | - | - | ||||
Common stock, 450,000,000 shares authorized, | ||||||
145,726,212 and 144,993,614 shares outstanding | 2 | 2 | ||||
Additional paid-in capital | 2,294 | 2,282 | ||||
Retained earnings | 214 | 204 | ||||
Treasury stock, at cost (1,304,731 and 837,803 shares) | (21) | (13) | ||||
Accumulated other comprehensive loss | (1,110) | (1,142) | ||||
Total parent company stockholders' equity | 1,379 | 1,333 | ||||
Noncontrolling interests | 67 | 63 | ||||
Total equity | 1,446 | 1,396 | ||||
Total liabilities, redeemable noncontrolling interests and equity | $ 7,800 | $ 7,485 |
DANA INCORPORATED | |||||
Consolidated Statement of Cash Flows (Unaudited) | |||||
For the Three Months Ended March 31, 2025 and 2024 | |||||
Three Months Ended | |||||
(In millions) | March 31, | ||||
2025 | 2024 | ||||
Operating activities | |||||
Net income | $ 30 | $ - | |||
Depreciation | 96 | 101 | |||
Amortization | 5 | 5 | |||
Amortization of deferred financing charges | 1 | 1 | |||
Earnings of affiliates, net of dividends received | (2) | (2) | |||
Stock compensation expense | 13 | 6 | |||
Deferred income taxes | (20) | 2 | |||
Pension expense, net | (7) | ||||
Change in working capital | (141) | (251) | |||
Change in other noncurrent assets and liabilities | (15) | (4) | |||
Loss on disposal group previously held for sale | 29 | ||||
Other, net | (4) | 18 | |||
Net cash used in operating activities | (37) | (102) | |||
Investing activities | |||||
Purchases of property, plant and equipment | (75) | (70) | |||
Proceeds from sale of property, plant and equipment | 11 | 4 | |||
Settlements of undesignated derivatives | (1) | (1) | |||
Other, net | 4 | ||||
Net cash used in investing activities | (65) | (63) | |||
Financing activities | |||||
Net change in short-term debt | 121 | 17 | |||
Repayment of long-term debt | (4) | (27) | |||
Dividends paid to common stockholders | (15) | (15) | |||
Distributions to noncontrolling interests | (1) | (3) | |||
Collection of note receivable from noncontrolling interest | 11 | ||||
Contributions from redeemable noncontrolling interests | 9 | ||||
Other, net | (6) | 9 | |||
Net cash provided by financing activities | 95 | 1 | |||
Net decrease in cash, cash equivalents and restricted cash | (7) | (164) | |||
Cash, cash equivalents and restricted cash − beginning of period | 512 | 563 | |||
Effect of exchange rate changes on cash balances | 18 | (12) | |||
Cash, cash equivalents and restricted cash − end of period | $ 523 | $ 387 |
DANA INCORPORATED | |||||
Reconciliation of Net Cash Used In Operating Activities to | |||||
Adjusted Free Cash Flow (Unaudited) | |||||
Three Months Ended | |||||
(In millions) | March 31, | ||||
2025 | 2024 | ||||
Net cash used in operating activities | $ (37) | $ (102) | |||
Purchases of property, plant and equipment | (75) | (70) | |||
Proceeds from sale of property, plant and equipment | 11 | 4 | |||
Adjusted free cash flow | $ (101) | $ (168) |
DANA INCORPORATED | ||||
Segment Sales and Adjusted EBITDA (Unaudited) | ||||
For the Three Months Ended March 31, 2025 and 2024 | ||||
Three Months Ended | ||||
(In millions) | March 31, | |||
2025 | 2024 | |||
Sales | ||||
Light Vehicle | $ 1,180 | $ 1,324 | ||
Commercial Vehicle | 568 | 653 | ||
Off-Highway | 604 | 758 | ||
Total Sales | $ 2,352 | $ 2,735 | ||
Adjusted EBITDA | ||||
Light Vehicle | $ 68 | $ 78 | ||
Commercial Vehicle | 44 | 33 | ||
Off-Highway | 79 | 115 | ||
Corporate expenses and other net | (3) | (3) | ||
Adjusted EBITDA | $ 188 | $ 223 |
DANA INCORPORATED | ||||
Reconciliation of Earnings Before Income Taxes to Adjusted EBITDA (Unaudited) | ||||
For the Three Months Ended March 31, 2025 and 2024 | ||||
Three Months Ended | ||||
(In millions) | March 31, | |||
2025 | 2024 | |||
Earnings before income taxes | $ 36 | $ 35 | ||
Interest income | (3) | (4) | ||
Interest expense | 39 | 39 | ||
Earnings before interest and income taxes | 72 | 70 | ||
Depreciation | 96 | 101 | ||
Amortization | 5 | 5 | ||
Non-service cost components of pension and OPEB costs | 2 | 4 | ||
Restructuring charges, net | 5 | 5 | ||
Stock compensation expense | 13 | 6 | ||
Strategic transaction expenses | 15 | 2 | ||
(Gain) loss on sale of property, plant and equipment | (1) | 5 | ||
Supplier capacity charge adjustment | (19) | |||
Loss on disposal group previously held for sale | 29 | |||
Other items | (4) | |||
Adjusted EBITDA | $ 188 | $ 223 |
DANA INCORPORATED | |||||
Reconciliation of Net Income Attributable to the Parent Company to | |||||
Adjusted Net Income Attributable to the Parent Company and | |||||
Diluted Adjusted EPS (Unaudited) | |||||
For the Three Months Ended March 31, 2025 and 2024 | |||||
(In millions, except per share amounts) | |||||
Three Months Ended | |||||
March 31, | |||||
2025 | 2024 | ||||
Net income attributable to the parent company | $ 25 | $ 3 | |||
Items impacting income before income taxes: | |||||
Amortization | 5 | 5 | |||
Restructuring charges, net | 5 | 5 | |||
Strategic transaction expenses | 15 | 2 | |||
Supplier capacity commitment charge adjustment | (19) | ||||
Loss on disposal group previously held for sale | 29 | ||||
Other items | (3) | ||||
Items impacting income taxes: | |||||
Net income tax expense on items above | (2) | (13) | |||
Income tax expense (benefit) attributable to various discrete tax matters | (10) | 9 | |||
Adjusted net income attributable to the parent company | $ 19 | $ 37 | |||
Diluted shares - as reported | 147.0 | 144.8 | |||
Adjusted diluted shares | 147.0 | 144.8 | |||
Diluted adjusted EPS | $ 0.13 | $ 0.26 |
DANA INCORPORATED | ||||||||||
2024 Segment Sales and Adjusted EBITDA | ||||||||||
Recast for Segment Realignment (Unaudited) | ||||||||||
(In millions) | ||||||||||
Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | ||||||
Sales | ||||||||||
Light Vehicle | $ 1,324 | $ 1,366 | $ 1,253 | $ 1,168 | $ 5,111 | |||||
Commercial Vehicle | 653 | 645 | 612 | 570 | 2,480 | |||||
Off-Highway | 758 | 727 | 611 | 597 | 2,693 | |||||
Total Sales | $ 2,735 | $ 2,738 | $ 2,476 | $ 2,335 | $ 10,284 | |||||
Adjusted EBITDA | ||||||||||
Light Vehicle | $ 78 | $ 89 | $ 83 | $ 83 | $ 333 | |||||
Commercial Vehicle | 33 | 40 | 47 | 17 | 137 | |||||
Off-Highway | 115 | 116 | 103 | 88 | 422 | |||||
Corporate expenses and other net | (3) | (1) | (1) | (2) | (7) | |||||
Adjusted EBITDA | $ 223 | $ 244 | $ 232 | $ 186 | $ 885 | |||||
Earnings (loss) before income taxes | $ 35 | $ 67 | $ 52 | $ (74) | $ 80 | |||||
Interest income | (4) | (2) | (4) | (5) | (15) | |||||
Interest expense | 39 | 39 | 40 | 43 | 161 | |||||
Earnings (loss) before interest and income taxes | 70 | 104 | 88 | (36) | 226 | |||||
Depreciation | 101 | 106 | 97 | 97 | 401 | |||||
Amortization | 5 | 6 | 5 | 5 | 21 | |||||
Non-service cost components of pension and OPEB costs | 4 | 2 | 8 | 4 | 18 | |||||
Restructuring charges, net | 5 | 12 | 24 | 35 | 76 | |||||
Stock compensation expense | 6 | 8 | 7 | 9 | 30 | |||||
Strategic transaction expenses | 2 | 2 | 1 | 4 | 9 | |||||
Loss on sale of property, plant and equipment | 5 | 1 | 6 | |||||||
Supplier capacity charge | 46 | 46 | ||||||||
Amounts attributable to previously divested/closed operations | 9 | 9 | ||||||||
Loss on disposal group previously held for sale | 29 | 1 | (4) | 26 | ||||||
Other items | (4) | 3 | 6 | 12 | 17 | |||||
Adjusted EBITDA | $ 223 | $ 244 | $ 232 | $ 186 | $ 885 |
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SOURCE Dana Incorporated