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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) announced the initiation of eS9000r e-Axle production to support Freightliner Custom Chassis Corporation's all-electric MT50e delivery vehicle. This e-Axle features a fully integrated design, delivering up to 240 kW of power and enabling a driving range of 170 miles. The system can achieve full charge in about three hours with DC fast charging. Dana is showcasing its solutions at the ACT Expo in Long Beach, California, emphasizing its commitment to sustainable mobility.
Dana Incorporated (NYSE: DAN) announced an expansion of its Spicer Electrified™ e-Powertrain with new e-Axle offerings for Class 7 and 8 vehicles. The Zero-8 e-Axles enhance existing heavy-duty EV solutions, featuring robust technology tailored for demanding applications. The configurations support gross axle weight ratings up to 52,000 pounds, with modular designs for easier servicing. Currently undergoing global testing, these solutions are set for commercial launch in late 2023, meeting growing demands for electrified vehicle platforms.
Dana Incorporated (NYSE: DAN) will participate in the virtual J.P. Morgan Auto Conference on Aug. 11, 2021, at 1:30 p.m. EDT. Jonathan Collins, the company’s Vice President and CFO, will provide an overview of Dana and host a Q&A session lasting approximately 30 minutes. Interested parties can access information on the webcast through Dana's investor website prior to the event.
Based in Maumee, Ohio, Dana reported sales of $7.1 billion in 2020, employing 38,000 people across 33 countries. The company focuses on sustainable and efficient propulsion solutions for the mobility market.
Dana reported sales of $2.21 billion for Q2 2021, a remarkable increase from $1.08 billion in Q2 2020, driven by strong demand. The net income attributable to Dana reached $53 million, a $227 million improvement year-over-year. Diluted EPS rose to $0.36, up by $1.56, with an adjusted EBITDA of $233 million, marking a substantial recovery from a loss last year. Operating cash flow also improved significantly, totaling $67 million. Dana maintains its full-year guidance, expecting sales at the higher end of the range due to robust market demand.
Dana Incorporated (NYSE: DAN) has announced a strategic agreement with Switch Mobility Ltd. to invest in electrified commercial vehicles. Dana will supply electric drivetrain components, including e-Axles, gearboxes, and software, for Switch's EV offerings. The partnership aims to enhance both companies’ positions in the growing market for sustainable urban mobility. Dana reported $7.1 billion in sales for 2020 and is recognized for its sustainability efforts, making this collaboration significant for its future growth.
Dana Incorporated (NYSE: DAN) has declared a quarterly dividend of $0.10 per share, scheduled for payment on Sept. 3, 2021, to shareholders on record by Aug. 13, 2021.
In 2020, the company reported impressive sales of $7.1 billion and employs 38,000 associates across 33 countries. Dana is recognized for its commitment to sustainability, having been named one of 'America's Most Responsible Companies 2021' by Newsweek.
Dana Incorporated (NYSE: DAN) is set to release its 2021 second-quarter financial results on July 30, 2021. The announcement will occur at approximately 7 a.m. EDT, followed by a conference call and webcast at 9 a.m. EDT. This session will include senior management discussing the results and answering questions. Dana, based in Maumee, Ohio, reported $7.1 billion in sales for 2020, emphasizing its role in mobility markets and recognition for corporate responsibility.
Dana Incorporated (NYSE: DAN) has launched the Spicer® HVT1 transmission, designed for improving the performance and sustainability of agriculture telehandlers. This advanced powersplit transmission offers fuel savings of up to 30% compared to conventional systems, supporting power inputs from 110 to 155 horsepower. Currently in field tests, the HVT1 promises enhanced productivity, control, and operator comfort. Its unique design enables efficient operation across various duty cycles, reducing total owning and operating costs while promoting sustainability through lower greenhouse gas emissions.
Dana Incorporated (NYSE: DAN) has announced it will accelerate its efforts to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by at least 50% by 2030, advancing its original 2035 target. This initiative will decrease over 300,000 metric tons of carbon dioxide emissions annually. The company signed a commitment letter with the Science Based Target initiative (SBTi) to establish future emissions targets. Dana attributes this acceleration to advancements in technology and operational efficiencies, positioning itself as a leader in sustainability within the mobility industry.
Dana Incorporated (NYSE: DAN) announced a leadership transition in its Light Vehicle Drive Systems division, effective July 9. Byron Foster, previously Dana's senior vice president and chief commercial officer, will replace Bob Pyle, who is leaving to become a CEO outside the mobility sector. Foster’s extensive experience in senior executive roles at Johnson Controls and Adient is expected to enhance Dana's customer-focused approach. The company reported $7.1 billion in sales for 2020, emphasizing sustainability and employee recognition.