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 appointed Lisa Amend as Senior Vice President and Chief Human Resources Officer, effective June 26, 2024. With over 20 years of experience in labor and employment law, Amend has a comprehensive background in HR-related litigation, labor relations, and executive compensation. She will oversee Dana's HR strategy, including talent acquisition, management, development, and diversity initiatives.
Amend has been with Dana for over 12 years, rejoining in 2020 as Senior Legal Counsel. Previously, she held senior roles at Marathon Petroleum and the law firm Taft, Stettinius & Hollister LLP. She holds degrees from Miami University, University of Cincinnati College of Law, and Bowling Green State University. Dana, a global leader in propulsion and energy-management solutions, reported $10.6 billion in sales for 2023 and employs 42,000 people worldwide.
Dana Incorporated (NYSE: DAN) received the 2024 Automotive News PACE Award for its electro-mechanical, infinitely variable transmission system. The technology allows vehicles to switch between engine-only, hybrid, and battery-only modes, reducing CO2 emissions and improving performance. Dana's innovative solution is being used in commercial vehicles like firetrucks and ARFF vehicles, offering sustainability benefits and reduced fuel consumption.
Dana Incorporated reported strong financial results for the first quarter of 2024 with increased sales, adjusted EBITDA, and improved free cash flow. Sales were $2.7 billion, net income was $3 million, and adjusted EBITDA was $223 million. The company raised its full-year free cash flow guidance by $25 million. Despite a $29 million charge related to the divestiture of the European hydraulics business, Dana's performance was robust, driven by stable demand, efficiency improvements, and strong profit growth.
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