Dana Q1 2026 non-GAAP results show EBITDA jump

Dana Incorporated furnished supplemental non-GAAP financial information for the first quarter ended March 31, 2026, expanding on its previously released results.

Rhea-AI Filing Summary

Dana Incorporated furnished supplemental non-GAAP financial information for the first quarter ended March 31, 2026, expanding on its previously released results. The company reported net sales of $1,868 million versus $1,781 million a year earlier and net income attributable to the parent company of $1,087 million, largely driven by $1,106 million of net income from discontinued operations.

From continuing operations, Dana recorded a net loss of $15 million, but non-GAAP performance improved. Adjusted EBITDA rose to $171 million from $93 million, and adjusted net income attributable to the parent company improved to $16 million from a loss of $39 million. Diluted adjusted EPS was $0.14 compared with a loss of $0.27 in the prior-year quarter.

Positive

• Adjusted profitability improved: Adjusted EBITDA rose to $171 million from $93 million, and adjusted net income attributable to the parent company moved to $16 million from a $39 million loss, with diluted adjusted EPS improving to $0.14 from a $0.27 loss.

Negative

• None.

Insights

Equity analyst – autos and industrials

Non-GAAP profitability and EBITDA improved sharply despite a small continuing-operations loss.

Dana shows stronger underlying performance in Q1 2026. Net sales increased to $1,868 million, and adjusted EBITDA nearly doubled to $171 million, indicating better earnings power before interest, taxes, depreciation, amortization and other excluded items.

GAAP results are dominated by discontinued operations, with net income from those activities of $1,106 million. From continuing operations, the company still posted a net loss of $15 million, but adjusted net income turned positive at $16 million and diluted adjusted EPS reached $0.14, compared with a loss a year earlier.

Cash flow remains a consideration: adjusted free cash flow was negative $195 million for the quarter, reflecting working-capital use and capital spending. Subsequent disclosures in future quarters will clarify whether the improved adjusted earnings translate into more consistent operating cash generation.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net sales: $1,868 million Adjusted EBITDA: $171 million Net income attributable to parent: $1,087 million +5 more

8 metrics

Net sales $1,868 million Three months ended March 31, 2026

Adjusted EBITDA $171 million Q1 2026 vs $93 million in Q1 2025

Net income attributable to parent $1,087 million Q1 2026, driven by discontinued operations

Net income from discontinued operations $1,106 million Three months ended March 31, 2026

Adjusted net income attributable to parent $16 million Q1 2026 vs $(39) million in Q1 2025

Diluted adjusted EPS $0.14 Three months ended March 31, 2026

Adjusted free cash flow $(195) million Three months ended March 31, 2026

Total assets $6,078 million As of March 31, 2026

Key Terms

non-GAAP financial measures, Adjusted EBITDA, adjusted free cash flow, discontinued operations, +1 more

5 terms

non-GAAP financial measures financial

"This information includes certain non-GAAP financial measures that were not included in the Company’s earnings release"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Adjusted EBITDA financial

"Adjusted EBITDA is a non-GAAP financial measure which we have defined as net income (loss) from continuing operations before interest, income taxes, depreciation, amortization"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

adjusted free cash flow financial

"Adjusted free cash flow is a non-GAAP financial measure which we have defined as cash provided by (used in) operating activities less purchases of property, plant and equipment"

Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.

discontinued operations financial

"Net income from discontinued operations | | | 1,106 | | | | 47 | Net income"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

Off-Highway business divestiture related activities financial

"Cash paid for Off-Highway business divestiture related activities | | | 61"

Earnings Snapshot

Net sales: $1,868 million

Q1 2026

Net sales $1,868 million

Adjusted EBITDA $171 million

Adjusted net income attributable to parent $16 million

Diluted adjusted EPS $0.14

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Dana (DAN) perform financially in Q1 2026?

Dana reported net sales of $1,868 million and net income attributable to the parent company of $1,087 million. Results were heavily influenced by discontinued operations, which contributed $1,106 million of net income during the quarter.

What were Dana’s adjusted EBITDA and adjusted net income in Q1 2026?

Dana’s adjusted EBITDA was $171 million in Q1 2026, up from $93 million a year earlier. Adjusted net income attributable to the parent company improved to $16 million from a $39 million loss in the prior-year quarter.

What was Dana’s diluted adjusted EPS for Q1 2026?

Dana reported diluted adjusted EPS of $0.14 for Q1 2026. This compares with a diluted adjusted loss per share of $(0.27) in the same quarter of 2025, reflecting stronger non-GAAP profitability.

How did discontinued operations impact Dana’s Q1 2026 results?

Discontinued operations had a major effect, contributing $1,106 million of net income in Q1 2026. This drove total net income to $1,091 million, compared with $30 million a year earlier, while continuing operations still showed a net loss.

What was Dana’s adjusted free cash flow in Q1 2026?

Dana’s adjusted free cash flow for Q1 2026 was $(195) million. This figure starts from net cash used in operating activities and adjusts for capital spending, asset sale proceeds, and Off-Highway business divestiture–related cash payments.

How did Dana’s segment sales and adjusted EBITDA compare by business in Q1 2026?

In Q1 2026, Light Vehicle sales were $1,269 million and Commercial Vehicle sales were $599 million. Adjusted EBITDA was $112 million for Light Vehicle and $63 million for Commercial Vehicle, with corporate and other items netting to $(4) million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 05/15/2026 - 04:30 PM Learn about SEC filing dates

DANA Inc false 0000026780 0000026780 2026-05-15 2026-05-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 15, 2026

Dana Incorporated

(Exact name of registrant as specified in its charter)

Delaware		1-1063		26-1531856
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification Number)

3939 Technology Drive, Maumee, Ohio 43537

(Address of principal executive offices) (Zip Code)

(419) 887-3000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of Each Class		Trading Symbol		Name of Each Exchange on which Registered
Common Stock, $.01 par value		DAN		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Items 2.02 and 7.01 Results of Operations and Financial Condition and Regulation FD Disclosure

On May 15, 2026, Dana Incorporated (the “Company”) today furnished supplemental information related to its financial results for the first quarter ended March 31, 2026. This information includes certain non-GAAP financial measures that were not included in the Company’s earnings release for the quarter furnished on April 29, 2026.

The information in this report is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following item is furnished with this report.

Exhibit No.		Description
99.1		Dana Incorporated Non-GAAP Financial Information Q1 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						DANA INCORPORATED
Date: May 15, 2026				By:		/s/ Douglas H. Liedberg
						Name:   Douglas H. Liedberg
						Title:   Senior Vice President, Chief Legal and
						Human Resources Officer and Corporate Secretary

3

Exhibit 99.1

DANA INCORPORATED

Quarterly Financial Information and Reconciliations of Non-GAAP Financial Measures

Non-GAAP Financial Measures

Adjusted EBITDA is a non-GAAP financial measure which we have defined as net income (loss) from continuing operations before interest, income taxes, depreciation, amortization, equity grant expense, restructuring expense, non-service cost components of pension and other postretirement benefits (OPEB) costs and other adjustments not related to our core operations (gain/loss on debt extinguishment, pension settlements, divestitures, impairment, etc.). Adjusted EBITDA is a measure of our ability to maintain and continue to invest in our operations and provide shareholder returns. We use adjusted EBITDA in assessing the effectiveness of our business strategies, evaluating and pricing potential acquisitions and as a factor in making incentive compensation decisions. In addition to its use by management, we also believe adjusted EBITDA is a measure widely used by securities analysts, investors and others to evaluate financial performance of our company relative to other Tier 1 automotive suppliers. Adjusted EBITDA should not be considered a substitute for earnings (loss) before income taxes, net income (loss) or other results reported in accordance with GAAP. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

Adjusted net income (loss) attributable to the parent company is a non-GAAP financial measure which we have defined as net income (loss) attributable to the parent company excluding net income from discontinued operations, discrete income tax items, restructuring charges, amortization expense and other adjustments not related to our core operations (as used in adjusted EBITDA), net of any associated income tax effects. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to net income (loss) attributable to the parent company reported by other companies. Adjusted net income (loss) attributable to the parent company is neither intended to represent nor be an alternative measure to net income (loss) attributable to the parent company reported in accordance with GAAP.

Diluted adjusted EPS is a non-GAAP financial measure which we have defined as adjusted net income (loss) attributable to the parent company divided by adjusted diluted shares. We define adjusted diluted shares as diluted shares as determined in accordance with GAAP based on adjusted net income (loss) attributable to the parent company. This measure is considered useful for purposes of providing investors, analysts and other interested parties with an indicator of ongoing financial performance that provides enhanced comparability to EPS reported by other companies. Diluted adjusted EPS is neither intended to represent nor be an alternative measure to diluted EPS reported in accordance with GAAP.

Adjusted free cash flow is a non-GAAP financial measure which we have defined as cash provided by (used in) operating activities less purchases of property, plant and equipment plus proceeds from sale of property, plant and equipment plus cash paid for purchases of leased facilities plus cash paid for Off-Highway business divestiture related activities. We believe adjusted free cash flow is useful to investors in evaluating the operational cash flow of the company inclusive of the spending required to maintain the operations. Adjusted free cash flow is not intended to represent nor be an alternative to the measure of net cash provided by (used in) operating activities reported in accordance with GAAP. Adjusted free cash flow may not be comparable to similarly titled measures reported by other companies.

The accompanying financial information provides reconciliations of adjusted EBITDA, diluted adjusted EPS and free cash flow to the most directly comparable financial measures calculated and presented in accordance with GAAP. We have not provided a reconciliation of our adjusted EBITDA and diluted adjusted EPS outlook to the most comparable GAAP measures of net income (loss) and diluted EPS. Providing net income (loss) and diluted EPS guidance is potentially misleading and not practical given the difficulty of projecting event driven transactional and other non-core operating items that are included in net income (loss) and diluted EPS, including restructuring actions, asset impairments and certain income tax adjustments. The accompanying reconciliations of these non-GAAP measures with the most comparable GAAP measures for the historical periods presented are indicative of the reconciliations that will be prepared upon completion of the periods covered by the non-GAAP guidance.

DANA INCORPORATED

Consolidated Statement of Operations (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

		Three Months Ended
(In millions, except per share amounts)		March 31,
		2026				2025
Net sales		$	1,868			$	1,781
Costs and expenses
Cost of sales			1,699				1,663
Selling, general and administrative expenses			102				105
Amortization of intangibles			2				2
Restructuring charges, net			6				2
Other income (expense), net			(40	)			(1	)
Earnings from continuing operations before interest and income taxes			19				8
Loss on extinguishment of debt			(7	)
Interest income			6				2
Interest expense			22				39
Loss from continuing operations before income taxes			(4	)			(29	)
Income tax expense (benefit)			14				(10	)
Equity in earnings of affiliates			3				2
Net loss from continuing operations			(15	)			(17	)
Net income from discontinued operations			1,106				47
Net income			1,091				30
Less: Noncontrolling interests net income from continuing operations			4				5
Net income attributable to the parent company		$	1,087			$	25
Net income (loss) per share available to common stockholders
Basic loss per share from continuing operations		$	(0.17	)		$	(0.15	)
Basic earnings per share from discontinued operations			10.06				0.32
Basic earnings per share		$	9.89			$	0.17
Diluted loss per share from continuing operations		$	(0.17	)		$	(0.15	)
Diluted earnings per share from discontinued operations			10.06				0.32
Diluted earnings per share		$	9.89			$	0.17
Weighted-average shares outstanding - Basic			109.9				145.6
Weighted-average shares outstanding - Diluted			109.9				145.6

2

DANA INCORPORATED

Consolidated Statement of Comprehensive Income (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

		Three Months Ended
(In millions)		March 31,
		2026				2025
Net loss from continuing operations		$	(15	)		$	(17	)
Other comprehensive income (loss) from continuing operations, net of tax:
Currency translation adjustments			2				12
Hedging gains and losses			(4	)			18
Defined benefit plans			(1	)
Other comprehensive income (loss) from continuing operations			(3	)			30
Total comprehensive income (loss) from continuing operations			(18	)			13
Net income from discontinued operations			1,106				47
Other comprehensive income (loss) from discontinued operations, net of tax:
Currency translation adjustments			179				2
Other comprehensive income from discontinued operations			179				2
Total comprehensive income from discontinued operations			1,285				49
Total comprehensive income			1,267				62
Less: Comprehensive income from continuing operations attributable to noncontrolling interests			(4	)			(5	)
Comprehensive income attributable to the parent company		$	1,263			$	57

3

DANA INCORPORATED

Consolidated Balance Sheet (Unaudited)

As of March 31, 2026 and December 31, 2025

(In millions, except share and per share amounts)		March 31,				December 31,
		2026				2025
Assets
Current assets
Cash and cash equivalents		$	477			$	469
Accounts receivable
Trade, less allowance for doubtful accounts of $12 in 2026 and $15 in 2025			1,257				987
Other			278				254
Inventories			994				1,015
Other current assets			201				114
Current assets of disposal group held for sale			32				1,029
Total current assets			3,239				3,868
Intangibles			61				71
Deferred tax assets			499				534
Other noncurrent assets			92				102
Investments in affiliates			105				102
Operating lease assets			279				305
Property, plant and equipment, net			1,783				1,872
Noncurrent assets of disposal group held for sale			20				954
Total assets		$	6,078			$	7,808
Liabilities and equity
Current liabilities
Short-term debt		$	—			$	615
Current portion of long-term debt			24				30
Accounts payable			1,228				1,154
Accrued payroll and employee benefits			224				210
Taxes on income			73				75
Current portion of operating lease liabilities			38				41
Other accrued liabilities			469				495
Current liabilities of disposal group held for sale			12				688
Total current liabilities			2,068				3,308
Long-term debt, less debt issuance costs of $9 in 2026 and $16 in 2025			1,236				2,566
Noncurrent operating lease liabilities			237				266
Pension and postretirement obligations			243				249
Other noncurrent liabilities			280				337
Noncurrent liabilities of disposal group held for sale							183
Total liabilities			4,064				6,909
Commitments and contingencies
Parent company stockholders’ equity
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares outstanding			—				—
Common stock, 450,000,000 shares authorized, $0.01 par value, 108,830,193 and 121,284,138 shares outstanding			1				1
Additional paid-in capital			1,554				1,671
Retained earnings			1,308				235
Treasury stock, at cost (2,507,713 and 1,944,700 shares)			(52	)			(35	)
Accumulated other comprehensive loss			(856	)			(1,032	)
Total parent company stockholders’ equity			1,955				840
Noncontrolling interests			59				59
Total equity			2,014				899
Total liabilities and equity		$	6,078			$	7,808

4

DANA INCORPORATED

Consolidated Statement of Cash Flows (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

		Three Months Ended
(In millions)		March 31,
		2026				2025
Operating activities
Net income		$	1,091			$	30
Less: Net income from discontinued operations			1,106				47
Net loss from continuing operations			(15	)			(17	)
Depreciation			84				82
Amortization			3				3
Amortization of deferred financings charges			(8	)			1
Earnings of affiliates, net of dividends received			(3	)			(2	)
Stock compensation expense			11				13
Deferred income taxes			11				(18	)
Pension expense, net			(5	)			(1	)
Change in working capital			(252	)			(418	)
Change in other noncurrent assets and liabilities			11				(3	)
Loss on divestiture of ownership interests			8
Noncash electric vehicle program termination charges			52
Other, net			(31	)			(5	)
Net cash used in operating activities from continuing operations			(134	)			(365	)
Net cash provided by (used in) operating activities from discontinued operations			(61	)			328
Net cash used in operating activities			(195	)			(37	)
Investing activities
Purchases of property, plant and equipment			(62	)			(67	)
Proceeds from sale of property, plant and equipment			1				11
Settlements of undesignated derivatives			(4	)			(2	)
Other, net			1				1
Net cash used in investing activities from continuing operations			(64	)			(57	)
Net cash provided by (used) in investing activities from discontinued operations			2,563				(8	)
Net cash provided by (used in) investing activities			2,499				(65	)
Financing activities
Net change in short-term debt			(615	)			121
Repayment of long-term debt			(1,330	)			(4	)
Dividends paid to common stockholders			(13	)			(15	)
Repurchases of common stock			(125	)
Distributions to noncontrolling interests			(1	)			(1	)
Payment for mandatorily redeemable noncontrolling interest			(190	)
Swap settlements							(6	)
Other, net			(18	)
Net cash provided by (used in) financing activities			(2,292	)			95
Net increase (decrease) in cash, cash equivalents and restricted cash			12				(7	)
Cash, cash equivalents and restricted cash - beginning of period			486				512
Effect of exchange rate changes on cash balances			(6	)			18
Cash, cash equivalents and restricted cash - end of period		$	492			$	523

5

DANA INCORPORATED

Reconciliation of Net Cash Used In Operating Activities to Adjusted Free Cash Flow (Unaudited)

		Three Months Ended
(In millions)		March 31,
		2026				2025
Net cash used in operating activities		$	(195	)		$	(37	)
Purchases of property, plant and equipment - Continuing operations			(62	)			(67	)
Purchases of property, plant and equipment - Discontinued operations							(8	)
Proceeds from sale of property, plant and equipment - Continuing operations			1				11
Cash paid for Off-Highway business divestiture related activities			61
Adjusted free cash flow		$	(195	)		$	(101	)

6

DANA INCORPORATED

Segment Sales and Adjusted EBITDA (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

		Three Months Ended
(In millions)		March 31,
		2025				2024
Sales
Light Vehicle		$	1,269			$	1,213
Commercial Vehicle			599				568
Total Sales		$	1,868			$	1,781
Adjusted EBITDA
Light Vehicle		$	112			$	68
Commercial Vehicle			63				41
Corporate expense and other items, net			(4	)			(16	)
Adjusted EBITDA		$	171			$	93

7

DANA INCORPORATED

Reconciliation of Loss From Continuing Operations Before Income Taxes to Adjusted EBITDA (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

		Three Months Ended
(In millions)		March 31,
		2026				2025
Loss from continuing operations before income taxes		$	(4	)		$	(29	)
Adjustments related to continuing operations
Loss on extinguishment of debt			7
Interest income			(6	)			(2	)
Interest expense			22				39
Depreciation			84				82
Amortization			3				3
Non-service cost components of pension and OPEB costs			1				2
Restructuring charges, net			6				2
Stock compensation expense			11				13
Strategic transaction expenses			1				1
Gain on sale of property, plant and equipment							(1	)
Supplier capacity charge adjustment							(19	)
Loss on divestiture of ownership interests			8
Electric vehicle program termination charges			56
Foreign exchange gain on unhedged intercompany loans			(21	)
Other items			3				2
Adjusted EBITDA		$	171			$	93

8

DANA INCORPORATED

Reconciliation of Net Income Attributable to the Parent Company to Adjusted Net Income Attributable to the Parent Company and Diluted Adjusted EPS (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

(In millions, except per share amounts)
		Three Months Ended
		March 31,
		2026				2025
Net income attributable to the parent company		$	1,087			$	25
Items impacting income before income taxes:
Amortization			3				3
Restructuring charges, net			6				2
Strategic transaction expenses			1				1
Supplier capacity commitment charge adjustment							(19	)
Loss on divestiture of ownership interests			8
Electric vehicle program termination charges			56
Loss on extinguishment of debt			7
Foreign exchange gain on unhedged intercompany loans			(21	)
Net income from discontinued operations			(1,106	)			(47	)
Items impacting income taxes:
Net income tax expense (benefit) on items above			(37	)			6
Income tax expense (benefit) attributable to various discrete tax matters			12				(10	)
Adjusted net income (loss) attributable to the parent company		$	16			$	(39	)
Diluted shares - as reported			109.9				145.6
Adjusted diluted shares			111.1				145.6
Diluted adjusted EPS		$	0.14			$	(0.27	)

9

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 161.8 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.5 KB