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Dana Incorporated Announces Second-quarter 2018 Financial Results

Dana Incorporated Announces Second-quarter 2018 Financial Results

Dana Incorporated Announces Second-quarter 2018 Financial Results with Significant Revenue Growth, Affirms Full-year Guidance Ranges
Advances Global Electrification Strategy with Acquisition of TM4

MAUMEE, Ohio, July 25, 2018 /PRNewswire/ –Dana Incorporated logo. (PRNewsFoto/Dana Incorporated)

Highlights

  • Sales of $2.1 billion, an increase of $214 million; growth of 12 percent
  • Net income attributable to Dana of $124 million; diluted EPS of $0.85
  • Adjusted EBITDA of $246 million, an increase of $29 million providing a margin of 12.0 percent
  • Diluted adjusted EPS of $0.74, an improvement of 9 percent over second quarter of last year
  • Operating cash flow of $141 million; free cash flow of $61 million
  • Repurchased 1.1 million shares of stock returning $25 million to shareholders
  • Strategic acquisition of TM4 solidifies Dana as the only full e-Propulsion systems supplie

Dana Incorporated (NYSE: DAN) today announced strong financial results for the second quarter of 2018.

“Dana continued our sales growth trajectory with 12 percent higher revenue compared with last year as we continue to grow organically, benefiting from higher end-market demand and winning new business,” said James Kamsickas, Dana president and chief executive officer. “We also remain focused on inorganic growth opportunities highlighted by the recent strategic acquisition of TM4. This transaction is a game changer, as it positions Dana as the only full e-Propulsion design, engineering, and manufacturing systems supplier. TM4’s core technologies of electric motors, power inverters, and controls are applicable to all mobility markets that we serve and are a vital part of Dana’s broader enterprise strategy going forward.”

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