Dana Inc Stock Price, News & Analysis

Dana Incorporated (NYSE: DAN) received the Drivetrain Component of the Year Award for its Spicer® TE50 powershift transmission at the 2020 Diesel Progress Summit. This accolade recognizes innovative drivetrain components for commercial vehicles, enhancing productivity and performance. The Spicer TE50, designed for heavy-duty applications, improves fuel efficiency and operational efficiency with an electronically modulated design. It accommodates vehicles with 400 to 600 kW, featuring advanced gearboxes and integrated retarder technology, thus reducing brake wear and enhancing driving comfort.

Dana Incorporated (NYSE: DAN) announced an acquisition of a non-controlling stake in Pi Innovo LLC, a prominent player in embedded software and electronics control units. This investment aims to bolster Dana's capabilities in electric vehicles, enhancing its e-Propulsion systems and software solutions. CEO James Kamsickas emphasized the importance of controls in efficient e-Powertrain architectures, while Pi Innovo's CEO noted the partnership will expand their market reach. Dana, with $8.6 billion in sales in 2019, seeks to improve its electric vehicle offerings through this strategic collaboration.

Dana reported third-quarter 2020 sales of $1.99 billion, increasing by $916 million from Q2 2020 due to recovering demand after COVID-19 disruptions. However, this represents a decline from $2.16 billion in Q3 2019. Net income fell to $45 million from $111 million year-over-year, leading to diluted EPS of $0.31 versus $0.77 in 2019. Adjusted EBITDA was $201 million with a margin of 10.1%. The company reinstated its full-year guidance, projecting sales between $6.65 billion and $6.95 billion.

Dana Incorporated (NYSE: DAN) will participate in the Gabelli Funds 44th Annual Automotive Symposium on Nov. 2, 2020, at 1 p.m. (EST). The company's Chairman and CEO, James Kamsickas, along with CFO Jonathan Collins, will present an overview and engage in a Q&A session. Webcast access details will be available on Dana's Investor website prior to the event. Dana, based in Maumee, Ohio, reported $8.6 billion in sales in 2019, focusing on sustainable solutions for vehicles.

Dana Incorporated (NYSE: DAN) is set to release its 2020 third-quarter financial results on October 28, 2020, at 7 a.m. EDT. Following the release, a conference call will be held at 9 a.m. EDT, featuring members of the senior management team to discuss results and answer queries. Participants can access the call through audio streaming or by phone, with details available on the company's investor website. In 2019, Dana reported $8.6 billion in sales, employing 36,000 associates globally.

Dana Incorporated (NYSE: DAN) announced plans for a new facility in Pune, India, covering 50,000 square feet. This facility will produce Dana TM4 electric motors, inverters, and control units for electrified vehicles, aimed at supporting the growing demand for electric mobility. Scheduled to open later this year, the site will enhance Dana's capabilities in India, marking its 18th facility in the region. Dana's strategic investments and acquisitions since 2017 emphasize its commitment to electrification and expansion in the Asia-Pacific market.

Dana Incorporated (NYSE: DAN) will participate in the RBC Capital Markets Global Industrials Virtual Conference on September 15, 2020, at 3 p.m. EDT. During this session, Jonathan Collins, the Executive Vice President and CFO, will provide an overview of the company and engage in a Q&A session lasting approximately 30 minutes. Investors can access the webcast through Dana's Investor website prior to the event. Dana, founded in 1904, specializes in power-conveyance and energy-management solutions, reporting sales of $8.6 billion in 2019.

Dana Incorporated (NYSE: DAN) will present at the J.P. Morgan Auto Conference on August 12, 2020, at 12:20 p.m. EDT. CEO James Kamsickas and CFO Jonathan Collins will discuss company insights and take questions for around 30 minutes.

Investors can access the webcast details on Dana's Investor website prior to the event. With over 36,000 employees, Dana specializes in power-conveyance and energy-management solutions, reporting $8.6 billion sales in 2019.

Dana reported second-quarter 2020 financial results with sales of $1.08 billion, down from $2.3 billion in the same period last year. The net loss attributable to Dana was $174 million, translating to a diluted EPS loss of $1.20. Adjusted EBITDA also fell to a loss of $5 million. The company cited a significant decline in demand due to the COVID-19 pandemic, leading to operational disruptions. Dana currently has $1.7 billion in liquidity, but it refrains from issuing full-year guidance amid ongoing economic uncertainty.