Dauch Reports Fourth Quarter and Full Year 2025 Financial Results
Rhea-AI Summary
Dauch (NYSE: DCH) reported fourth-quarter and full-year 2025 results, including Q4 sales of $1.38B and full-year sales of $5.84B. Q4 net loss was $75.3M and full-year net loss was $19.7M, while full-year Adjusted EBITDA was $743.2M (12.7% of sales). Management closed the transformational acquisition of Dowlais and provided 2026 targets: sales $10.3–$10.7B, Adjusted EBITDA $1.3–$1.4B, and adjusted free cash flow $235–$325M, including expected synergy and restructuring cash outflows.
Positive
- 2026 sales target of $10.3–$10.7 billion (includes Dowlais)
- 2026 Adjusted EBITDA target of $1.3–$1.4 billion
- Synergy run-rate >$100 million expected by end of year one
- Equity income from China JV forecasted at $65–$75 million
Negative
- Q4 2025 net loss of $75.3 million
- Full-year 2025 net loss of $19.7 million versus $35.0 million income in 2024
- Large near-term cash outflows: restructuring $110–$150M and synergy implementation $100–$125M
Key Figures
Market Reality Check
Peers on Argus
No peer stocks from the Motor Vehicle Parts & Accessories sector appeared in the momentum scanner, suggesting recent moves in DCH were stock-specific rather than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 09 | Inducement equity award | Neutral | -1.1% | Performance stock unit grant to new executive tied to Dowlais combination. |
| Feb 06 | Earnings date announcement | Neutral | +5.0% | Company scheduled Q4 results release and conference call details for Feb 13. |
| Feb 05 | Board expansion | Positive | +5.0% | Added two experienced former Dowlais directors to support post-acquisition integration. |
Recent stock moves showed positive reaction to board expansion news but mixed or divergent responses to neutral administrative items like earnings date notices and inducement awards.
Over the past week, Dauch announced several corporate developments tied to its combination with Dowlais. On Feb 5, 2026, it expanded its Board with two experienced former Dowlais directors, and the stock rose about 5%. An inducement award to a new executive on Feb 9, 2026 coincided with a modest decline. An earnings date announcement on Feb 6, 2026 also saw shares gain nearly 5%, highlighting sensitivity to governance and event-related updates.
Market Pulse Summary
This announcement detailed Dauch’s 2025 performance, highlighting sales of $5.84 billion, a modest net loss of $(19.7) million, and solid full-year Adjusted EBITDA of $743.2 million. Management also issued 2026 targets, including sales of $10.3–$10.7 billion and Adjusted EBITDA of $1.3–$1.4 billion, incorporating Dowlais. Investors may focus on cash generation, with operating cash flow of $411.6 million, and on how integration, restructuring, and synergy execution influence margins and free cash flow.
Key Terms
adjusted ebitda financial
adjusted free cash flow financial
non-gaap financial
u.s. gaap financial
ebitda financial
ifrs financial
capital expenditures financial
usmca regulatory
AI-generated analysis. Not financial advice.
Delivers Solid Full Year 2025 Operating Cash Flow
Fourth Quarter 2025 Results
- Sales of
$1.38 billion - Net loss of
$(75.3) million - Adjusted EBITDA of
$169.0 million 12.2% of sales - Loss per share of
$(0.63) $0.07 - Net cash provided by operating activities of
$120.5 million $70.1 million
Full Year 2025 Results
- Sales of
$5.84 billion - Net loss of
$(19.7) million - Adjusted EBITDA of
$743.2 million 12.7% of sales - Loss per share of
$(0.17) $0.53 - Net cash provided by operating activities of
$411.6 million $213.0 million
"We delivered strong fourth-quarter and full year Adjusted EBITDA margin growth, reflecting solid performance," said Dauch's Chairman and Chief Executive Officer, David C. Dauch. "With the exciting close of the transformational acquisition, we warmly welcome the Dowlais team, and together, we will focus on generating robust value as a premier global Driveline and Metal Form supplier."
The company's sales in the fourth quarter of 2025 were
The company's net loss in the fourth quarter of 2025 was
In the fourth quarter of 2025, the company's Adjusted EBITDA was
The company's net cash provided by operating activities for the fourth quarter of 2025 was
The company's Adjusted free cash flow for the fourth quarter of 2025 was
Dauch's 2026 Financial Outlook
Dauch's full year 2026 financial targets which include a partial year contribution from Dowlais (as of February 3 close) are as follows:
- Sales in the range of
$10.3 $10.7 billion - Adjusted EBITDA in the range of
$1.3 - Adjusted EBITDA includes synergy benefits of
$50 $75 million $100 million - Equity income from our China JV (which is included in Adjusted EBITDA) in the range of
$65 $75 million - Adjusted free cash flow in the range of
$235 $325 million - Capital expenditures in the range of
4.5% to5% of sales. - Restructuring cash payments of
$110 $150 million - Synergy implementation cash payments of
$100 $125 million
These targets are based on the following assumptions for 2026:
- Production outlook:
Global | |||
~15.0 million | ~16.9 million | ~32.7 million | ~92.6 million |
- Production estimates of key programs that we support.
- No changes to USMCA and mitigation of a majority of incremental tariff costs.
- Based on preliminary estimate of impacts of IFRS to
U.S. GAAP conversion for partial year contribution from Dowlais.
Fourth Quarter 2025 Conference Call Information
A conference call to review Dauch's fourth quarter results is scheduled today at 10:00 a.m. ET. Interested participants may listen to the live conference call by logging onto Dauch's investor web site at www.dauch.com or calling (877) 883-0383 from
Non-GAAP Financial Information
In addition to the results reported in accordance with accounting principles generally accepted in
Certain of the forward-looking financial measures included in this earnings release are provided on a non-GAAP basis. A reconciliation of non-GAAP forward-looking financial measures to the most directly comparable forward-looking financial measures calculated and presented in accordance with GAAP has been provided. The amounts in these reconciliations are based on our current estimates and actual results may differ materially from these forward-looking estimates for many reasons, including potential event driven transactional and other non-core operating items and their related effects in any future period, the magnitude of which may be significant.
Management believes that these non-GAAP financial measures are useful to management, investors, and banking institutions in their analysis of Dauch's business and operating performance. Management also uses this information for operational planning and decision-making purposes.
Non-GAAP financial measures are not and should not be considered a substitute for any GAAP measure. Additionally, non-GAAP financial measures as presented by Dauch may not be comparable to similarly titled measures reported by other companies.
Definition of Non-GAAP Financial Measures
Dauch defines Adjusted earnings (loss) per share to be diluted earnings (loss) per share excluding the impact of impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gains or losses on equity securities, pension curtailment and settlement charges, impairment charges, gain or losses on the derivative associated with our Business Combination with Dowlais, net interest on debt held in escrow, and non-recurring items, including the tax effect thereon.
Dauch defines EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gain or losses on the derivative associated with our Business Combination with Dowlais, interest income on debt held in escrow, gains or losses on equity securities, pension curtailment and settlement charges, impairment charges and non-recurring items.
Dauch defines free cash flow to be net cash provided by operating activities less capital expenditures net of proceeds from the sale of property, plant and equipment and government grants. Adjusted free cash flow is defined as free cash flow excluding the impact of cash payments for restructuring and acquisition-related costs and interest income on debt held in escrow.
Company Description
Dauch Corporation is a premier Driveline and Metal Forming supplier serving the global automotive industry with a powertrain-agnostic product portfolio that supports electric, hybrid, and internal combustion vehicles. The company is headquartered in
Forward-Looking Statements
In this earnings release, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to trends and events that may affect our future financial position and operating results. The terms such as "will," "may," "could," "would," "plan," "believe," "expect," "anticipate," "intend," "project," "target," and similar words or expressions, as well as statements in future tense, are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to: global economic conditions, including the impact of inflation, recession or recessionary concerns, or slower growth in the markets in which we operate; reduced purchases of our products by General Motors Company (GM), Ford Motor Company (Ford), Stellantis N.V. (Stellantis) or other customers; reduced demand for our customers' products (particularly light trucks and sport utility vehicles (SUVs) produced by GM, Ford and Stellantis); our ability to consummate strategic initiatives and successfully integrate acquisitions and joint ventures; our ability to respond to changes in technology, increased competition or pricing pressures; our ability to develop and produce new products that reflect market demand; lower-than-anticipated market acceptance of new or existing products; our ability to attract new customers and programs for new products; risks inherent in our global operations (including tariffs and the potential consequences thereof to us, our suppliers, and our customers and their suppliers, adverse changes in trade agreements, such as
For more information:
Investor Contact
David H. Lim
Head of Investor Relations
(313) 758-2006
david.lim@aam.com
Media Contact
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com
Or visit the Dauch website at www.dauch.com.
DAUCH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31, | December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
(in millions, except per share data) | |||||||
Net sales | $ 1,383.9 | $ 1,380.8 | $ 5,836.7 | $ 6,124.9 | |||
Cost of goods sold | 1,243.0 | 1,226.5 | 5,132.2 | 5,383.5 | |||
Gross profit | 140.9 | 154.3 | 704.5 | 741.4 | |||
Selling, general and administrative expenses | 98.5 | 89.0 | 389.0 | 387.1 | |||
Amortization of intangible assets | 20.4 | 20.8 | 81.8 | 82.9 | |||
Impairment charges | — | — | 8.0 | 12.0 | |||
Restructuring and acquisition-related costs | 55.8 | 8.3 | 113.4 | 18.0 | |||
Operating income (loss) | (33.8) | 36.2 | 112.3 | 241.4 | |||
Interest expense | (72.4) | (43.9) | (201.1) | (186.0) | |||
Interest income | 21.6 | 6.6 | 39.8 | 28.1 | |||
Other income (expense): | |||||||
Debt refinancing and redemption costs | (2.9) | (0.1) | (6.2) | (0.6) | |||
Gain on Business Combination Derivative | 0.7 | — | 52.9 | — | |||
Loss on equity securities | — | — | — | (0.1) | |||
Other income (expense), net | 1.5 | (5.7) | 3.8 | (20.0) | |||
Income (loss) before income taxes | (85.3) | (6.9) | 1.5 | 62.8 | |||
Income tax expense (benefit) | (10.0) | 6.8 | 21.2 | 27.8 | |||
Net income (loss) | $ (75.3) | $ (13.7) | $ (19.7) | $ 35.0 | |||
Diluted earnings (loss) per share | $ (0.63) | $ (0.12) | $ (0.17) | $ 0.29 | |||
DAUCH CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | |||
December 31, | December 31, | ||
(in millions) | |||
ASSETS | |||
Current assets | |||
Cash and cash equivalents | $ 708.9 | $ 552.9 | |
Restricted cash | 1,496.6 | — | |
Accounts receivable, net | 733.0 | 709.1 | |
Inventories, net | 466.4 | 442.5 | |
Prepaid expenses and other | 230.1 | 152.2 | |
Current assets held-for-sale | — | 58.1 | |
Total current assets | 3,635.0 | 1,914.8 | |
Property, plant and equipment, net | 1,591.5 | 1,622.8 | |
Deferred income taxes | 235.9 | 199.5 | |
Goodwill | 174.4 | 172.0 | |
Other intangible assets, net | 375.2 | 456.7 | |
GM postretirement cost sharing asset | 116.0 | 111.7 | |
Operating lease right-of-use assets | 122.3 | 110.3 | |
Other assets and deferred charges | 419.9 | 472.1 | |
Total assets | $ 6,670.2 | $ 5,059.9 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities | |||
Current portion of long-term debt | $ 10.4 | $ 47.9 | |
Accounts payable | 718.3 | 700.5 | |
Accrued compensation and benefits | 254.9 | 193.0 | |
Deferred revenue | 38.5 | 14.2 | |
Current portion of operating lease liabilities | 24.7 | 22.8 | |
Accrued expenses and other | 187.2 | 172.4 | |
Current liabilities held-for-sale | — | 24.4 | |
Total current liabilities | 1,234.0 | 1,175.2 | |
Long-term debt, net | 4,039.1 | 2,576.9 | |
Deferred revenue | 33.9 | 37.0 | |
Deferred income taxes | 9.1 | 11.8 | |
Long-term portion of operating lease liabilities | 100.1 | 89.9 | |
Postretirement benefits and other long-term liabilities | 614.0 | 606.3 | |
Total liabilities | 6,030.2 | 4,497.1 | |
Total stockholders' equity | 640.0 | 562.8 | |
Total liabilities and stockholders' equity | $ 6,670.2 | $ 5,059.9 | |
DAUCH CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | ||||||||
Three Months Ended | Twelve Months Ended | |||||||
December 31, | December 31, | |||||||
2025 | 2024 | 2025 | 2024 | |||||
(in millions) | ||||||||
Operating activities | ||||||||
Net income (loss) | $ (75.3) | $ (13.7) | $ (19.7) | $ 35.0 | ||||
Adjustments to reconcile net income (loss) to net cash provided by | ||||||||
Depreciation and amortization | 117.5 | 115.4 | 459.5 | 469.7 | ||||
Other | 78.3 | 49.5 | (28.2) | (49.3) | ||||
Net cash provided by operating activities | 120.5 | 151.2 | 411.6 | 455.4 | ||||
Investing activities | ||||||||
Purchases of property, plant and equipment | (65.8) | (78.0) | (256.5) | (248.0) | ||||
Proceeds from sale of property, plant and equipment | 0.3 | 0.4 | 5.6 | 4.0 | ||||
Acquisition of business, net of cash acquired | (0.6) | (0.6) | (2.5) | (7.3) | ||||
Proceeds from sale of business, net | 6.3 | — | 64.4 | — | ||||
Proceeds from disposition of affiliates | — | — | 30.1 | — | ||||
Proceeds from government grants | — | — | — | 2.0 | ||||
Other | (1.5) | (2.4) | (10.7) | (5.5) | ||||
Net cash used in investing activities | (61.3) | (80.6) | (169.6) | (254.8) | ||||
Financing activities | ||||||||
Net debt activity | 1,421.3 | (56.2) | 1,403.7 | (150.1) | ||||
Other | 9.7 | 6.0 | (8.2) | (6.1) | ||||
Net cash provided by (used in) financing activities | 1,431.0 | (50.2) | 1,395.5 | (156.2) | ||||
Effect of exchange rate changes on cash | 1.2 | (10.0) | 15.1 | (11.4) | ||||
Net increase in cash, cash equivalents, and restricted cash | 1,491.4 | 10.4 | 1,652.6 | 33.0 | ||||
Cash, cash equivalents, and restricted cash at beginning of | 714.1 | 542.5 | 552.9 | 519.9 | ||||
Cash, cash equivalents, and restricted cash at end of period | $ 2,205.5 | $ 552.9 | $ 2,205.5 | $ 552.9 | ||||
DAUCH CORPORATION (Unaudited) | |||||||
The supplemental data presented below is a reconciliation of certain financial measures which is intended | |||||||
Earnings before interest expense, income taxes and depreciation and amortization (EBITDA) and Adjusted EBITDA(a) | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31, | December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
(in millions) | |||||||
Net income (loss) | $ (75.3) | $ (13.7) | $ (19.7) | $ 35.0 | |||
Interest expense | 72.4 | 43.9 | 201.1 | 186.0 | |||
Income tax expense (benefit) | (10.0) | 6.8 | 21.2 | 27.8 | |||
Depreciation and amortization | 117.5 | 115.4 | 459.5 | 469.7 | |||
EBITDA | 104.6 | 152.4 | 662.1 | 718.5 | |||
Restructuring and acquisition-related costs | 55.8 | 8.3 | 113.4 | 18.0 | |||
Debt refinancing and redemption costs | 2.9 | 0.1 | 6.2 | 0.6 | |||
Impairment charges | — | — | 8.0 | 12.0 | |||
Loss on equity securities | — | — | — | 0.1 | |||
Gain on Business Combination Derivative | (0.7) | — | (52.9) | — | |||
Interest income on debt held in escrow | (13.6) | — | (13.6) | — | |||
Non-recurring items: | |||||||
Impact of EV cancellation settlement | 20.0 | — | 20.0 | — | |||
Adjusted EBITDA | $ 169.0 | $ 160.8 | $ 743.2 | $ 749.2 | |||
Adjusted earnings (loss) per share(b) | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31, | December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Diluted earnings (loss) per share | $ (0.63) | $ (0.12) | $ (0.17) | $ 0.29 | |||
Restructuring and acquisition-related costs | 0.45 | 0.07 | 0.92 | 0.14 | |||
Debt refinancing and redemption costs | 0.02 | — | 0.05 | 0.01 | |||
Impairment charges | — | — | 0.06 | 0.10 | |||
Gain on Business Combination Derivative | (0.01) | — | (0.43) | — | |||
Net interest on debt held in escrow | 0.11 | — | 0.11 | — | |||
Non-recurring items: | |||||||
Impact of EV cancellation settlement | 0.16 | — | 0.16 | — | |||
Tax impact from enactment of tax law | 0.03 | — | (0.15) | — | |||
Tax effect of adjustments | (0.06) | (0.01) | (0.02) | (0.03) | |||
Adjusted earnings (loss) per share | $ 0.07 | $ (0.06) | $ 0.53 | $ 0.51 | |||
Adjusted earnings (loss) per share are based on weighted average diluted shares outstanding of 124.4 million and 117.6 million for the three months ended December 31, 2025 and 2024 respectively, and 123.8 million and 121.9 million for the twelve months ended December 31, 2025 and 2024, respectively. |
DAUCH CORPORATION SUPPLEMENTAL DATA (Unaudited) | |||||||
The supplemental data presented below is a reconciliation of certain financial measures which is intended to facilitate analysis of Dauch Corporation business and operating performance. | |||||||
Free cash flow and Adjusted free cash flow(c) | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31, | December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
(in millions) | |||||||
Net cash provided by operating activities | $ 120.5 | $ 151.2 | $ 411.6 | $ 455.4 | |||
Capital expenditures net of proceeds from the sale of property, | (65.5) | (77.6) | (250.9) | (242.0) | |||
Free cash flow | 55.0 | $ 73.6 | 160.7 | 213.4 | |||
Cash payments for restructuring and acquisition-related costs | 28.7 | 5.6 | 65.9 | 16.9 | |||
Interest income on debt held in escrow | (13.6) | — | (13.6) | — | |||
Adjusted free cash flow | $ 70.1 | $ 79.2 | $ 213.0 | $ 230.3 | |||
Segment Financial Information | |||||||
Three Months Ended | Twelve Months Ended | ||||||
December 31, | December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
(in millions) | |||||||
Segment Sales | |||||||
Driveline | $ 971.0 | $ 979.6 | $ 4,062.0 | $ 4,253.3 | |||
Metal Forming | 551.0 | 520.6 | 2,320.2 | 2,414.3 | |||
Total Sales | 1,522.0 | 1,500.2 | 6,382.2 | 6,667.6 | |||
Intersegment Sales | (138.1) | (119.4) | (545.5) | (542.7) | |||
Net External Sales | $ 1,383.9 | $ 1,380.8 | $ 5,836.7 | $ 6,124.9 | |||
Segment Adjusted EBITDA(a) | |||||||
Driveline | $ 132.2 | $ 133.3 | $ 563.2 | $ 578.2 | |||
Metal Forming | 36.8 | 27.5 | 180.0 | 171.0 | |||
Total Segment Adjusted EBITDA | $ 169.0 | $ 160.8 | $ 743.2 | $ 749.2 | |||
Full Year 2026 Financial Outlook | |||
Adjusted EBITDA | |||
Low End | High End | ||
(in millions) | |||
Net income | $ (130) | $ (60) | |
Interest expense | 350 | 350 | |
Income tax expense | (55) | (25) | |
Depreciation and amortization | 850 | 850 | |
Full year 2026 targeted EBITDA | 1,015 | 1,115 | |
Acquisition related costs | 65 | 65 | |
Restructuring costs | 120 | 120 | |
Synergy integration costs | 115 | 115 | |
Other | (15) | (15) | |
Full year 2026 targeted Adjusted EBITDA | $ 1,300 | $ 1,400 | |
Adjusted Free Cash Flow | |||
Low End | High End | ||
(in millions) | |||
Net cash provided by operating activities | $ 385 | $ 410 | |
Capital expenditures net of proceeds from the sale of property, | (500) | (500) | |
Full year 2026 targeted Free Cash Flow | (115) | (90) | |
Cash payments for acquisition costs | 140 | 140 | |
Subtotal | 25 | 50 | |
Cash payments for restructuring costs | 110 | 150 | |
Cash payments for synergy integration costs | 100 | 125 | |
Full year 2026 targeted Adjusted Free Cash Flow | $ 235 | $ 325 | |
____________________________________ | ||||
(a) | We define EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gain or losses on the derivative associated with our Business Combination with Dowlais, interest income on debt held in escrow, gains or losses on equity securities, pension curtailment and settlement charges, impairment charges and non-recurring items. We believe that EBITDA and Adjusted EBITDA are meaningful measures of performance as they are commonly utilized by management and investors to analyze operating performance and entity valuation. Our management, the investment community and the banking institutions routinely use EBITDA and Adjusted EBITDA, together with other measures, to measure our operating performance relative to other Tier 1 automotive suppliers. We also use Segment Adjusted EBITDA as the measure of earnings to assess the performance of each segment and determine the resources to be allocated to the segments. EBITDA and Adjusted EBITDA are also key metrics used in our calculation of incentive compensation. EBITDA and Adjusted EBITDA should not be construed as income from operations, net income or cash flow from operating activities as determined under GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently. | |||
(b) | We define Adjusted earnings (loss) per share to be diluted earnings (loss) per share excluding the impact of impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gains or losses on equity securities, pension curtailment and settlement charges, impairment charges, gain or losses on the derivative associated with our Business Combination with Dowlais, net interest on debt held in escrow, and non-recurring items, including the tax effect thereon. We believe Adjusted earnings (loss) per share is a meaningful measure as it is commonly utilized by management and investors in assessing ongoing financial performance that provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of core operating performance and which may obscure underlying business results and trends. Other companies may calculate Adjusted earnings (loss) per share differently. | |||
(c) | We define free cash flow to be net cash provided by operating activities less capital expenditures net of proceeds from the sale of property, plant and equipment and government grants. Adjusted free cash flow is defined as free cash flow excluding the impact of cash payments for restructuring and acquisition-related costs and interest income on debt held in escrow. We believe free cash flow and Adjusted free cash flow are meaningful measures as they are commonly utilized by management and investors to assess our ability to generate cash flow from business operations to repay debt and return capital to our stockholders. Free cash flow and Adjusted free cash flow are also key metrics used in our calculation of incentive compensation. Other companies may calculate free cash flow and Adjusted free cash flow differently. | |||
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SOURCE Dauch Corporation
FAQ
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