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    Wendy Dong

    Portfolio High Yield Syndicated Loans Administrator at Deutsche Bank

    Wendy Dong is a Portfolio High Yield Syndicated Loans Administrator at Deutsche Bank, specializing in the management of high-yield loan portfolios within the credit markets. Her coverage includes companies such as Dana Inc., where she has contributed to earnings call analysis and portfolio administration. Wendy began her finance career after graduating with a BS in Economics from The Wharton School at the University of Pennsylvania, previously holding positions as an investment banking analyst in the Financial Institutions Group at Morgan Stanley and as a Senior Associate at Bregal Sagemount. She is experienced in software, healthcare, financial technology, and business services sectors, and is likely to hold industry-standard credentials for her position, although specific FINRA registrations or securities licenses are not publicly listed.

    Wendy Dong's questions to DANA (DAN) leadership

    Wendy Dong's questions to DANA (DAN) leadership • Q2 2025

    Question

    Wendy Dong from Deutsche Bank requested commentary on current end-market conditions for light and commercial vehicles and asked for an explanation of the difference between Q2's high decremental margins and the lower full-year forecast.

    Answer

    Senior VP & CFO Timothy Kraus noted stable light truck demand but significant softness in North American Class 8 commercial vehicles, which is factored into the outlook. He explained that Q2's unfavorable 30% decremental margin was due to a temporary negative sales mix, particularly in high-margin CV EV products, which is expected to normalize in the second half of the year.

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