Dana Q4 2021 Earnings Report
Key Takeaways
Dana Incorporated reported fourth-quarter sales of $2.27 billion, a $165 million increase compared to the same period in 2020. Net income attributable to Dana was $25 million, a decrease from $40 million in the same period of 2020. Adjusted EBITDA was $118 million, compared to $192 million for the same period in 2020. Diluted adjusted earnings per share were negligible, compared with $0.24 in the same period of the prior year.
Sales for the fourth quarter of 2021 totaled $2.27 billion, compared with $2.11 billion in the same period of 2020.
Net income attributable to Dana was $25 million for the fourth quarter of 2021, compared with $40 million in the same period of 2020.
Adjusted EBITDA for the fourth quarter of 2021 was $118 million, compared with $192 million for the same period in 2020.
Diluted adjusted earnings per share were negligible in the fourth quarter of 2021, compared with $0.24 in the same period of the prior year.
Dana
Dana
Forward Guidance
Dana provided financial targets for 2022, including sales of $9.6 to $10.1 billion, Adjusted EBITDA of $900 million to $1.0 billion, diluted adjusted EPS of $2.05 to $2.55, operating cash flow of approximately 6.5 to 7.5 percent of sales, and free cash flow of approximately 2.5 to 3.5 percent of sales.
Positive Outlook
- Sales of $9.6 to $10.1 billion
- Adjusted EBITDA of $900 million to $1.0 billion
- Implied adjusted EBITDA margin of approximately 9.6 percent at the midpoint of the range
- Diluted adjusted EPS of $2.05 to $2.55
- Operating cash flow of approximately 6.5 to 7.5 percent of sales
Challenges Ahead
- Net income guidance not provided
- Diluted EPS guidance not provided
- Difficulty of projecting event-driven transactional and other non-core operating items
- Includes restructuring actions
- Asset impairments, and income tax valuation adjustments