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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 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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