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Jun 30, 2024
Dana Q2 2024 Earnings Report
Dana reported steady profit and improved margin despite continued future program development costs.
Key Takeaways
Dana Incorporated reported second-quarter financial results with increased Adjusted EBITDA and Adjusted EBITDA margin and raised full-year free cash flow guidance. Sales reached $2.74 billion, net income was $16 million, Adjusted EBITDA was $244 million, and free cash flow was $104 million.
Sales of $2.74 billion.
Net income of $16 million.
Adjusted EBITDA of $244 million, an increase of $1 million over last year.
Free cash flow of $104 million.
Dana
Dana
Dana Revenue by Segment
Revenue by Segment
Light Vehicle Revenue
CapyFin.comCommercial Vehicle Revenue
CapyFin.comOff-Highway Revenue
CapyFin.com Forward Guidance
Dana is maintaining guidance for Adjusted EBITDA, while raising profit margin and again increasing the free-cash-flow range.
Positive Outlook
- Sales growth driven by new business backlog
- Sales growth driven by improved end-market demand
- Sales growth driven by new / refreshed programs
- Sales growth driven by market share gains
- Company-wide efficiency improvements drive higher margins
Challenges Ahead
- Weakening demand for electric vehicles driving lower sales
- Increase in net interest payments due to higher rates
- Increase in net interest payments due to payment timing from refinancing
- Translation of foreign currency expected to be slightly less of a headwind to sales than previously forecasted
- Lower commodity costs resulting in lower sales recoveries
Revenue & Expenses
Visualization of income flow from segment revenue to net income