Dana Q4 2023 Earnings Report
Key Takeaways
Dana Incorporated reported fourth-quarter sales of $2.5 billion, a decrease compared to the same period in 2022. The net loss attributable to Dana was $39 million, or $0.27 per share. Adjusted EBITDA was $156 million, compared to $176 million for the same period in 2022.
Sales for the fourth quarter of 2023 totaled $2.5 billion, compared with $2.6 billion in the same period of 2022.
Adjusted EBITDA for the fourth quarter of 2023 was $156 million, compared with $176 million for the same period in 2022.
The net loss attributable to Dana was $39 million, or $0.27 per share.
Operating cash flow in the fourth quarter of 2023 was $278 million, compared with $342 million in the same period of 2022.
Dana
Dana
Forward Guidance
Dana provided 2024 financial targets, including sales of $10.65 to $11.15 billion and adjusted EBITDA of $875 to $975 million.
Positive Outlook
- Sales growth driven by new business backlog
- Improved end-market demand
- New/refreshed programs
- Market share gains
- Company-wide efficiency improvements drive higher margins
Challenges Ahead
- Translation of foreign currency expected to be a headwind to sales and profit
- Lower commodity costs driving lowering sales recoveries
- Profit impacted by commodity cost true-ups with customers as input commodities decline
- Labor costs increasing
- Monitoring ocean freight