Dana Q3 2020 Earnings Report
Key Takeaways
Dana Incorporated reported a significant sequential sales increase of 85 percent in the third quarter of 2020, amounting to $2 billion. Net income attributable to Dana was $45 million, with a diluted EPS of $0.31. Adjusted EBITDA stood at $201 million, representing 10.1 percent of sales. The company also invested in Pi Innovo LLC to strengthen its e-Propulsion capabilities.
Sales reached $2 billion, reflecting an $900 million increase from the second quarter due to tempered COVID-19 impacts.
Net income attributable to Dana was $45 million, with a diluted EPS of $0.31.
Adjusted EBITDA amounted to $201 million, with a margin of 10.1 percent of sales.
The company invested in Pi Innovo LLC to enhance expertise in e-Propulsion systems, controls, software, and electronics engineering.
Dana
Dana
Forward Guidance
Dana reinstated its full-year financial targets for 2020, anticipating improving business conditions across global end markets.
Positive Outlook
- Sales of $6.650 to $6.950 billion.
- Adjusted EBITDA of $530 million to $590 million, with an implied adjusted EBITDA margin of approximately 8 percent at the midpoint of the range.
- Diluted adjusted EPS of $0.35 to $0.55.
- Operating cash flow of up to 5 percent of sales.
- Adjusted free cash flow of up to 1 percent of sales.