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Dana Incorporated reports news on its vehicle propulsion and powertrain businesses for light- and commercial-vehicle markets. The company designs and manufactures drive systems, electrodynamic technologies, thermal-management products, and sealing solutions for vehicle manufacturers and related aftermarkets.
Recurring updates for Dana Incorporated include financial results, cost-savings actions, new business wins, capital allocation through dividends and share repurchases, debt reduction, and portfolio changes following the completed sale of the Off-Highway business. Company communications also cover the Dana 2030 strategic plan, margin and cash-flow targets, governance matters, and leadership-transition disclosures.
Dana Incorporated (NYSE: DAN) has reaffirmed its strategic partnership with Lion Electric Co. to provide electric drive systems for their electric buses and medium- to heavy-duty trucks. This collaboration encompasses the supply of electric motors, inverters, controllers, axles, and driveshafts for all Lion Electric platforms. The partnership aims to support growing demand for zero-emission transportation solutions, aligning with Lion's plans to enhance production at its new Illinois facility later this year. Dana's technologies will be showcased at the Advanced Clean Transportation Expo in Long Beach, California.
Dana Incorporated (NYSE: DAN) will participate in the Oppenheimer 17th Annual Industrial Growth Conference on May 3, 2022, at 12:45 p.m. EDT. CFO Timothy Kraus will provide an overview and answer questions for 35 minutes. Following this, Dana will also participate in the 2022 Wells Fargo Industrials Conference on May 5, 2022, from 2 p.m. to 2:35 p.m. EDT. Webcast information will be available on Dana's investor website. In 2021, Dana reported $8.9 billion in sales and is recognized for its sustainability efforts.
Dana Incorporated reported first-quarter 2022 sales of $2.48 billion, a $217 million increase from the previous year, driven by robust demand in heavy-vehicle markets. However, net income was $17 million, down from $97 million a year ago, resulting in a diluted EPS of $0.12. Adjusted EBITDA fell to $170 million, compared to $234 million in 2021. The company anticipates ongoing cost pressures from inflation and supply chain disruptions, revising 2022 targets to a sales range of $9.85 to $10.35 billion and adjusted EBITDA of $770 to $870 million.
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Dana Incorporated (NYSE: DAN) declared a quarterly dividend of $0.10 per share, set for payment on May 27, 2022. Shareholders as of May 6, 2022 will be eligible. In 2021, Dana reported sales of $8.9 billion and employs around 40,000 people globally. The company, recognized as one of "America's Most Responsible Companies 2022" by Newsweek, focuses on sustainability and innovation in propulsion and energy-management solutions. Founded in 1904, Dana continues to impact the mobility market significantly.
Dana Incorporated (NYSE: DAN) is set to release its first-quarter financial results for 2022 on April 27, 2022. A press release will be available at 7 a.m. EDT, followed by a conference call at 9 a.m. EDT. Senior management will discuss the financial outcomes and take questions from participants. The financial results are anticipated to reflect Dana's ongoing performance, which reported $8.9 billion in sales in 2021. For those unable to attend, a webcast replay and audio recording will be accessible later on Dana's investor website.
Dana Incorporated (NYSE: DAN) has achieved Leadership in Energy and Environmental Design (LEED) certification for its Sustainable Mobility Center in Maumee, Ohio. This center functions as an engineering hub for e-Propulsion technologies, focusing on electric motors and electric vehicle systems. Doug Liedberg, the Chief Sustainability Officer, emphasized Dana's commitment to reducing greenhouse gas emissions by over 50% by 2030. The LEED certification confirms the use of sustainable practices in design and operations, contributing to Dana's strategic shift towards clean energy technologies.
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