Dana Q4 2022 Earnings Report
Key Takeaways
Dana Incorporated reported a sales increase of $2.56 billion for Q4 2022, up from $2.27 billion in the same period of 2021. The company's adjusted EBITDA also rose to $176 million from $118 million year-over-year. However, the company experienced a net loss of $179 million, primarily due to the recording of $155 million of additional non-cash valuation allowances on U.S. federal tax credits.
Sales increased to $2.56 billion, driven by improved global markets and cost-recovery actions.
Adjusted EBITDA improved to $176 million due to higher sales volumes and cost recoveries.
Net loss attributable to Dana was $179 million, impacted by non-cash valuation allowances.
Operating cash flow increased to $342 million and free cash flow was $202 million.
Dana
Dana
Forward Guidance
Dana provided financial targets for 2023, including sales of $10.35 to $10.85 billion, adjusted EBITDA of $750 to $850 million, diluted adjusted EPS of $0.25 to $0.75, operating cash flow of approximately $510 to $560 million, and free cash flow of breakeven to $50 million.
Positive Outlook
- Sales of $10.35 to $10.85 billion
- Adjusted EBITDA of $750 to $850 million
- Implied adjusted EBITDA margin of approximately 7.5 percent
- Diluted adjusted EPS of $0.25 to $0.75
- Free cash flow of breakeven to $50 million