What were the key takeaways from Dana's earnings call?

What is the revenue and EPS growth rate for Dana year over year?

What is Dana's latest dividend and current dividend yield?

What does Dana do and what are its main business segments?

What factors drove the changes in Dana's revenue and profit?

What were the key takeaways from Dana’s earnings call?

Did Dana beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Dana next quarter?

- **Record Performance**: 2025 EBITDA of $600 million (8.1% margin), highest free cash flow since 2013. 
- **Aggressive 2026 Targets**: $800 million EBITDA (10.5% margin), 4% free cash flow conversion. 
- **Balance Sheet Strength**: $1.9 billion debt reduction, 1.1x net debt ratio. 
- **Growth Drivers**: $200 million new backlog growth, 12% aftermarket expansion. 
- **Shareholder Returns**: $650 million buybacks in 2025, $200-300 million planned for 2026. 
- **Strategic Shifts**: Off-Highway divestiture, TM4 buyout, defense market expansion.

**【CEO Opening Remarks】**
- Sold Off-Highway business for $2.4 billion, completing strategic refocus on core markets (Commercial Vehicle, Light Vehicle). 
- Achieved $325 million in cost reductions vs. original $200 million target, with $65 million incremental savings in 2026.
- 2025 EBITDA margin of 8.1%, targeting 10-11% in 2026. 
- Free cash flow of $315 million in 2025, highest since 2013. 
- Share buybacks of $650 million in 2025, with $200-300 million planned for 2026.

**【CFO Financial Commentary】**
- 2025 revenue: $7.5 billion (continuing ops), EBITDA: $600 million. 
- 2026 outlook: Flat sales ($7.5 billion), EBITDA up $200 million to $800 million (10.5% margin). 
- Post-Off-Highway balance sheet: $1.9 billion debt reduction, 1.1x net debt ratio. 
- 2026 free cash flow target: 4% of sales. 
- Bought out TM4 joint venture for $198 million. 

**【Segment Leaders Update】**
- **Light Vehicle Systems**: 
  - $5.2 billion in 2025, 80% driveline products. 
  - New programs: Jaguar EV, Defender Sport, McLaren. 
  - 2026 backlog growth: $200 million from new programs, $750 million total by 2028. 
- **Commercial Vehicle Systems**: 
  - 50% share with PACCAR, 30% Europe, 20% South America. 
  - Aftermarket expansion: Victor Reinz brand in North America. 
  - 2026 CV EBITDA margin target: 10-11%. 

**【Q&A Highlights】**
- **2026 EBITDA Guidance**: $800 million (10.5% margin), driven by: 
  - $75 million cost savings 
  - $125 million from new business/margin expansion 
  - $100 million from stranded cost recovery 
- **Balance Sheet**: $450-500 million year-end cash, no near-term debt maturities. 
- **Aftermarket Focus**: 12% of revenue ($900 million), expanding through Victor Reinz brand. 
- **EV Strategy**: Minimal impact from EV market pullback, 90%+ recovery on canceled programs. 
- **2026 Share Buybacks**: Front-loaded, >50% in Q1. 
- **Capital Markets Day (March 25)**: Will detail 5-year margin glide path and growth strategies.

Dana Incorporated (DAN) Q4 2025 Earnings Call Transcript

- **Cost Savings Acceleration**: $310 million target on track, with $73 million realized in Q3 and $235 million annualized run rate.
- **Margin Expansion**: 10%+ EBITDA margin achievable in 2026, driven by ICE vehicle growth and operational efficiency.
- **EV Program Challenges**: $10 million Q3 charges from cancellations, expected recovery in Q4.
- **Free Cash Flow Strength**: $101 million Q3 free cash flow, up $109 million YoY, with $275 million 2025 target.

**【CEO Summary Section】**
- **Business Performance and Restructuring**: CEO highlights improving business performance with $310 million cost savings on track, including $73 million realized in Q3. Restructuring initiatives are reducing headwinds, with minimal tariff impact in Q3 and expected recovery of $150 million in 2025. EV program cancellations caused $10 million charges in Q3, expected to recover in Q4.
- **Market Dynamics**: Light Vehicle demand stable, Commercial Vehicle (CV) North America and Brazil volumes soft. Off-Highway business sale nearing completion, with European regulatory approvals pending.
- **Margin Outlook**: Confident in achieving 10% to 10.5% EBITDA margin in 2026, driven by cost savings, operational efficiency, and ICE vehicle growth. Backlog includes $300 million in new programs, 70% ICE, with EV share declining.

**【CFO Financial Commentary】**
- **Q3 Financials**: Sales $1.917 billion (+1% YoY), Adjusted EBITDA $162 million (+$51 million YoY), margin 8.5% (up 260bps). Free cash flow $101 million, up $109 million YoY due to profitability and working capital improvements.
- **Guidance Updates**: Full year 2025 adjusted EBITDA raised $15 million to $590 million midpoint. 2026 targets: 10%+ EBITDA margin, $275 million free cash flow. Stranded costs reduced to $30-$40 million in 2026 post-Off-Highway sale.
- **Key Drivers**: Cost savings ($235 million annualized), tariff recovery ($150 million sales, $20 million profit headwind), and currency benefits ($25 million sales).

Dana Incorporated (DAN) Q3 2025 Earnings Call Transcript

- **$2.4B Off-Highway Sale Proceeds**: Returning $600M to shareholders, targeting 25% share count reduction to 110M shares.
- **Cost Savings Acceleration**: $310M annual run rate (up from $300M), with $110M delivered YTD.
- **2026 Margin Target**: 10-10.5% achievable via cost savings, tariff recovery, and new business wins (e.g., Ford Super Duty).
- **Free Cash Flow Growth**: 2025 guidance $275M (4% of sales), targeting 4%+ in 2026.
- **Undervaluation**: Shares trading below intrinsic value, with buybacks and potential dividend to unlock value.

**【CEO Summary Section】**
- Announced sale of Off-Highway business to Allison for $2.7B, with $2.4B net proceeds expected by Q4 2025.
- Raised capital return to shareholders to $600M (from $550M), targeting 25% YoY share count reduction to 110M shares.
- Cost reduction initiatives increased to $310M annual run rate (from $300M), with $60M delivered in Q2 and $110M YTD.
- 2026 margin target set at 10-10.5%, driven by cost savings, tariff recoveries, and new business backlog.
- Highlighted undervaluation, with shares trading below intrinsic value based on 2026 margin guidance.

**【CFO Financial Commentary】**
- Q2 2025: Continuing operations sales $1.94B (down 5.5% YoY), Adjusted EBITDA $145M (7.5% margin, +210bps YoY).
- Full year 2025 guidance: Continuing ops sales $7.4B, Adjusted EBITDA $575M, Free Cash Flow $275M (up $50M from prior guidance).
- Tariff impact: 80bps headwind in Q2, expecting 80%+ recovery for full year.
- Stranded costs: $60M in Q2 (vs. $35-40M prior estimate), expected to reduce by $40M+ in 2026.
- Capital allocation: 1) Share buybacks ($600M+ in 2025), 2) Debt reduction, 3) Selective growth investments.

**【Q&A Key Highlights】**
- **2026 Margin Target**: 10-10.5% achievable through cost savings ($310M), tariff recovery, and new business (e.g., Ford Super Duty, JLR programs).
- **Cost Reduction Opportunities**: $310M target is 'low-hanging fruit'; longer-term savings from plant efficiency and stranded cost elimination ($40M+ in 2026).
- **End Market Trends**: Light Vehicle stable, (Super Duty, Wrangler), Commercial Vehicle soft in North America (Class 8 orders down 50%), offset by South America/Europe growth.
- **Free Cash Flow**: 2025 guidance $275M (4% of sales), targeting 4%+ in 2026 with improved working capital and lower interest costs.
- **Tariff Mitigation**: 80%+ recovery expected for 2025, with lagged impacts in Q2 resolved in H2.
- **Share Buybacks**: Undervaluation (sub-16x EV/EBITDA) justifies aggressive buybacks, with $600M+ in 2025 and potential special dividend.

Dana Incorporated (DAN) Q2 2025 Earnings Conference Call Transcript

- **Cost Savings Triumph**: Accelerated $50 million of $300M cost reduction, with $41M realized in Q1. Full-year savings now $225M vs. prior $175M.
- **Tariff Resilience**: $6M Q1 tariff headwind to be fully offset by customer recoveries in 2025. Steel/aluminum tariffs covered by existing contracts.
- **Cash Flow Strength**: Q1 free cash flow improved $67M YoY; 2025 guidance of $225M reflects $90M EBITDA growth and $50M capex reduction.
- **Debt Reduction Focus**: Target 1x-2x leverage through Off-Highway sale proceeds and non-core asset sales ($50M+ in H2 2025).
- **EV Strategy Shift**: Reduced R&D on next-gen EV products; new programs require customer-funded engineering.


**【CEO Summary Section】**
- **Revenue Performance**: Q1 2025 revenue was $2.4 billion, down $383 million year-over-year due to lower demand across all end markets. Adjusted EBITDA was $188 million (8% margin), slightly lower than last year despite cost savings.
- **Cost Savings Acceleration**: Accelerated $50 million of the $300 million cost reduction program, with $41 million realized in Q1. Full-year savings now expected to reach $225 million, up from $175 million.
- **Tariff Impact**: $6 million tariff headwind in Q1, with recoveries expected to offset tariffs in 2025. Steel and aluminum tariffs are expected to be fully recovered through existing mechanisms.
- **Free Cash Flow**: Q1 free cash flow use of $101 million, an improvement of $67 million year-over-year. Full-year 2025 free cash flow guidance remains $225 million.
- **Off-Highway Divestiture**: Process ongoing with multiple bidders; expected to close late in Q2. Proceeds from non-core asset sales ($50 million in Q2, $50 million+ in H2) will support deleveraging.

**【CFO Financial Commentary】**
- **Net Income**: $25 million (vs. $3 million last year), driven by lower tax expenses and cost savings.
- **Sales Drivers**: $345 million volume/mix decline offset by $27 million commercial actions and $41 million cost savings. Tariffs and FX translation reduced sales by $59 million.
- **Guidance**: Full-year 2025 sales above midpoint of range, adjusted EBITDA $975 million (10% margin), and EPS $1.40. Tariffs and FX translation expected to provide top-line tailwinds.

**【Q&A Highlights】**
- **Tariff Recovery**: 100% recovery expected, with lagged cash flow impact. Key customers have approved claims, with checks pending.
- **EV Strategy**: Reduced R&D spend on next-gen EV products due to market slowdown. Focus on risk-sharing with customers for new programs.
- **Debt Reduction**: Target leverage of 1x-2x through cycle. Proceeds from Off-Highway sale and asset sales will drive debt paydown.
- **Off-Highway Outlook**: Pre-buy activity in Q2, with green shoots in non-North American markets. No material volume impact to date.


Dana (DAN)-30 Apr 25-2025 Q1 Earnings call transcript

- **2024 Performance**: EBITDA up $40M to $885M despite $271M sales decline, driven by $300M cost reduction program.
- **2025 Outlook**: $9.75B sales (-5% YoY), $975M EBITDA (+10%), targeting 10% margin with $225M free cash flow.
- **Divestiture Progress**: Off-highway sale expected Q2 2025, enabling 1x leverage and capital return.
- **Tax Normalization**: Post-sale valuation allowance relief to boost EPS visibility.
- **Tariff Mitigation**: Full customer pass-through with indexed recovery covering 75% of costs.

**【CEO Summary Section】**
- Full year 2024 sales declined $271 million due to EV and off-highway market weakness, but adjusted EBITDA rose $40 million to $885 million, driven by cost savings and operational efficiency.
- 2025 guidance includes $9.75 billion in sales (down $500 million YoY) and $975 million in adjusted EBITDA (up $90 million YoY), targeting 10% margin by year-end.
- Off-highway divestiture expected to close by end-2025, with $300 million cost reduction program fully implemented by 2026.
- 2025 free cash flow projected to triple to $225 million, supporting 1x net leverage target.

**【CFO Financial Commentary】**
- Q4 2024 adjusted EBITDA of $186 million (8% margin) vs. $164 million (6.3% margin) in Q4 2023, reflecting $10 million in cost savings.
- Full year 2024 free cash flow improved to $70 million (vs. negative in 2023), driven by higher EBITDA and lower capital spending.
- 2025 guidance includes $175 million in cost savings, with $35-40 million expected in Q1 2025.
- Tax rate volatility due to U.S. valuation allowance, but normalization expected post-off-highway sale.

**【Q&A Key Takeaways】**
- Off-highway divestiture: Strong bidder interest, transaction expected in Q2 2025 with proceeds to reduce debt and buyback shares.
- EV strategy: Shift to selective partnerships reduces CapEx intensity, with $15-20 million annual savings from Power Technologies consolidation.
- Tariffs: Customers notified of full pass-through intent, indexed cost recovery mechanisms mitigate 75% of impact.
- Backlog: 80% of $650 million backlog in light vehicle driveline, minimal CV backlog due to catalog nature.
- Margins: 10%+ new Dana margin target achievable by 2026 with full cost savings realization.

Actual											0.47	-0.69	0.37	0.24	0.66	0.59	0.41	0	0.16	0.08	0.24	-0.1	0.25	0.37	0.3	-0.08	0.3101	0.31	0.12	0.25	0.13	0.19	0.07	0.37
Forecast											0.2564	-0.8244	0.2867	0.3922	0.4692	0.4844	0.4611	0.2107	0.1278	0.2486	0.2163	0.2589	0.0693	0.1745	0.1253	-0.0484	0.1842	0.2639	0.2201	0.1043	0.1745	0.3731	0.3306	0.3722
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+83.31%	+16.30%	+29.05%	-38.81%	+40.66%	+21.80%	-11.08%	-100.00%	+25.20%	-67.82%	+10.96%	-138.62%	+260.75%	+112.03%	+139.43%	-65.29%	+68.35%	+17.47%	-45.48%	+139.69%	-25.50%	-49.08%	-78.83%	-0.59%

DAN

DAN fundamentals

DAN Q4 2025 Earnings

Earnings Call

You can ask Aime

DAN

DAN fundamentals

DAN Q4 2025 Earnings

Earnings Call

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You can ask Aime