DANA (DAN) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for DANA.

Q4 2017

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Executives

Executive leadership at DANA.

R. Bruce McDonald

Detailed

Chairman and Chief Executive Officer

CEO

Brian K. Pour

Detailed

Senior Vice President and President, Commercial Vehicle Systems

Byron S. Foster

Detailed

Senior Vice President and President, Light Vehicle Systems

Douglas H. Liedberg

Detailed

Senior Vice President, General Counsel and Secretary, Chief Compliance & Sustainability Officer

Timothy R. Kraus

Detailed

Senior Vice President and Chief Financial Officer

Research analysts who have asked questions during DANA earnings calls.

Colin Langan

Wells Fargo & Company

6 questions for DAN

Also covers: ADNT, ALV, AN +12 more

James Picariello

BNP Paribas

6 questions for DAN

Also covers: ADNT, APTV, AXL +11 more

Dan Levy

Barclays PLC

5 questions for DAN

Also covers: ADNT, ALV, APTV +14 more

Ryan Brinkman

JPMorgan Chase & Co.

5 questions for DAN

Also covers: AXL, BWA, CAR +7 more

Emmanuel Rosner

Wolfe Research

4 questions for DAN

Also covers: ADNT, ALV, APTV +10 more

Joseph Spak

UBS Group AG

3 questions for DAN

Also covers: ADNT, APH, APTV +16 more

Tom Narayan

RBC Capital Markets

3 questions for DAN

Also covers: ALV, APTV, AXL +7 more

Gautam Narayan

RBC Capital Markets

2 questions for DAN

Also covers: APTV, AXL, CPTN +5 more

Joe Spak

UBS Group AG

2 questions for DAN

Also covers: APH, APTV, GM +5 more

Wenyang

Deutsche Bank AG

2 questions for DAN

Bruno Decina

Wolfe Research, LLC

1 question for DAN

Douglas Karson

Bank of America

1 question for DAN

Also covers: AXL, GT

Edison Yu

Deutsche Bank

1 question for DAN

Also covers: ACHR, ADNT, ALV +19 more

Josh

Barclays

1 question for DAN

Also covers: ABEO, TWST

Robert Saltzman

UBS

1 question for DAN

Wendy Dong

Deutsche Bank

1 question for DAN

Xin Yu

Deutsche Bank

1 question for DAN

Also covers: ACHR, ADNT, ALV +12 more

Latest news

Recent press releases and 8-K filings for DAN.

Dana Reports Strong Q4 and Full-Year 2025 Results, Provides Optimistic 2026 Outlook with Margin Expansion

DAN

Guidance Update

Share Buyback

M&A

Dana reported strong preliminary Q4 2025 results, with $1.9 billion in revenue, $200 million in adjusted EBITDA (10.7% margin), and $325 million in adjusted free cash flow, contributing to full-year 2025 revenue of $7.5 billion and $600 million adjusted EBITDA (8% margin).
For 2026, the company projects flat sales at $7.5 billion but a significant increase in EBITDA to $800 million (10.5% implied margin), representing a 250 basis point improvement from 2025, and $300 million in adjusted free cash flow.
The company completed the sale of its off-highway business, generating $2.4 billion net proceeds, which facilitated a $1.9 billion debt reduction. Additionally, Dana repurchased 34 million shares (23% of outstanding) for $650 million in 2025 and plans $200 million-$300 million in share repurchases for 2026.
Dana increased its cost reduction target to $325 million for 2026, up from the previously communicated $300 million.

Jan 21, 2026, 3:00 PM

Transcript

Dana Updates Investors on Strategic Progress and Financial Outlook

DAN

Guidance Update

Share Buyback

M&A

Dana completed the sale of its off-highway business on January 1st, generating $2.4 billion net proceeds and enabling $2 billion in debt reduction.
For 2025, preliminary results show $7.5 billion in revenue and $600 million in adjusted EBITDA (an 8% margin) on a continuing operations basis, with $315 million in adjusted free cash flow.
The company expects 2026 sales to be flat at $7.5 billion, with adjusted EBITDA increasing to $800 million (a 10.5% implied margin) and $300 million in adjusted free cash flow.
Dana repurchased 34 million shares (23% of outstanding shares) in 2025, returning over $700 million to shareholders, and plans $200 million-$300 million in share repurchases for 2026.
The three-year backlog is $750 million, up from a year ago, with $200 million of growth expected in 2026. The TM4 joint venture buyout was also completed for just under $200 million.

Jan 21, 2026, 3:00 PM

Transcript

Dana Reports Strong 2025 Results, Provides Positive 2026 Outlook, and Details Strategic Actions

DAN

Guidance Update

Share Buyback

M&A

Dana reported strong preliminary Q4 2025 revenue of $1.9 billion with an adjusted EBITDA margin of 10.7%, and full-year 2025 revenue of $7.5 billion with an adjusted EBITDA margin of 8%.
For 2026, the company projects $7.5 billion in sales, $800 million in adjusted EBITDA (implying a 10.5% margin), and $300 million in adjusted free cash flow.
Key strategic moves include the sale of the off-highway business for $2.7 billion (net $2.4 billion) , which facilitated $2 billion in debt reduction , and the buyout of the TM4 joint venture for nearly $200 million.
Dana returned over $700 million to shareholders in 2025, including repurchasing 34 million shares (23% of outstanding), and plans $200 million-$300 million in share repurchases for 2026.
The company increased its cost reduction target to $325 million and reported a growing three-year backlog of $750 million. A Capital Markets Day is scheduled for March 25th to outline longer-term growth and margin expansion strategies.

Jan 21, 2026, 3:00 PM

Transcript

Dana Reports Preliminary 2025 Results and Issues 2026 Financial Guidance

DAN

Earnings

Guidance Update

M&A

Dana reported preliminary full-year 2025 sales of ~$7.5 billion and adjusted EBITDA of ~$600 million, and projects 2026 sales to be ~$7.5 billion ±$200 million with adjusted EBITDA of ~$800 million ±$50 million, implying an adjusted EBITDA margin of ~10.0% to ~11.0%.
The company completed the sale of its Off-Highway business for $2.7 billion and is on track to achieve a total 2026 cost-reduction target of $325 million, with ~$250 million realized in 2025.
Dana returned $704 million to shareholders in 2025 through share repurchases and dividends, and expects $200-$300 million in share repurchases for 2026, alongside nearly $2 billion in debt reduction to-date in 2026.
The three-year net new sales backlog increased to $750 million, with ~$200 million expected in 2026, despite a flat market outlook for Light Trucks and Commercial Vehicles in 2026.

Jan 21, 2026, 3:00 PM

Presentation

Dana Incorporated Announces Preliminary 2025 Results and 2026 Outlook

DAN

Earnings

Guidance Update

Share Buyback

Dana Incorporated reported preliminary full-year 2025 financial results, including sales of approximately $7.5 billion, adjusted EBITDA of approximately $600 million (8 percent of sales), and adjusted free cash flow of approximately $315 million.
In 2025, the company completed the sale of its Off-Highway business for a $2.7 billion enterprise value, achieved approximately $250 million in cost savings, and returned $704 million to shareholders through repurchases of 34 million shares.
For 2026, Dana provided preliminary guidance with sales expected between $7.30 and $7.70 billion, adjusted EBITDA between $750 and $850 million (implying an adjusted EBITDA margin of 10.0% to 11.0%), and adjusted free cash flow between $250 and $350 million.
The company also announced a $750 million three-year new business backlog, with $200 million incremental in 2026, and raised its cumulative cost savings target to $325 million.

Jan 21, 2026, 12:56 PM

8-K

Dana Incorporated Announces Preliminary 2025 Results and 2026 Outlook

DAN

Earnings

Guidance Update

Share Buyback

Dana Incorporated reported strong preliminary 2025 financial results, with sales of approximately $7.5 billion and adjusted EBITDA of approximately $600 million, representing 8 percent of sales.
In 2025, the company completed the sale of its Off-Highway business for a $2.7 billion enterprise value, achieved $250 million in cost savings, and returned $704 million to shareholders through repurchases of 34 million shares.
For 2026, Dana issued preliminary guidance projecting sales between $7.30 billion and $7.70 billion and adjusted EBITDA between $750 million and $850 million, with an implied adjusted EBITDA margin of 10.0% to 11.0%.
The company also completed $1.9 billion in debt reduction and raised its cumulative cost savings target to $325 million, alongside announcing a $750 million three-year new business backlog.

Jan 21, 2026, 11:59 AM

Press Release

Dana Completes Sale of Off-Highway Business

DAN

M&A

Share Buyback

Dana Incorporated has completed the sale of its Off-Highway business to Allison Transmission Holdings, Inc. for $2.7 billion.
The transaction was valued at 7.5 times the Off-Highway business's expected 2025 adjusted EBITDA.
The proceeds from the sale will be used to reduce debt by approximately $2 billion, aiming to achieve a target net leverage of 1x over the business cycle.
Dana plans to return $1 billion to shareholders through 2027, with approximately $650 million already returned since the transaction was announced.
This divestiture is a key step in Dana's transformation strategy, making it a more focused company dedicated to light- and commercial-vehicle customers, and is expected to strengthen its balance sheet, improve margins, and accelerate innovation.

Jan 2, 2026, 1:45 PM

Press Release

Dana Initiates Tender Offers and Conditional Redemptions for Senior Notes

DAN

M&A

Debt Issuance

On December 4, 2025, Dana Incorporated and Dana Financing Luxembourg S.à r.l. commenced cash tender offers for several series of outstanding senior notes, including up to $173 million of 2027 Notes, $173 million of 2028 Notes, €141 million of 2029 Notes, $173 million of 2030 Notes, €184 million of 2031 Notes, and $152 million of 2032 Notes.
These offers are conditioned on the consummation of the previously disclosed sale of Dana's off-highway business, which is expected to generate approximately $2.3 billion in net cash proceeds. Dana intends to use approximately $1,066 million of these proceeds to fund the note purchases as part of a debt reduction plan.
The tender offers are set to expire on January 5, 2026. Concurrently, Dana issued notices for the conditional full redemption of all outstanding 2027 Notes and 2028 Notes, with a redemption date of January 8, 2026, also subject to the off-highway business sale.

Dec 4, 2025, 10:04 PM

8-K

Dana, Inc. Provides Q4 2025 Update, Details Off-Highway Sale Progress, and Capital Allocation Plans

DAN

Guidance Update

M&A

Share Buyback

Dana, Inc. is on track to meet its implied fourth-quarter 2025 guidance. The company expects to close the sale of its off-highway business by the end of 2025, which will contribute to $2 billion in deleveraging and improved working capital efficiency.
The company has a $1 billion capital return authorization, with approximately $400 million remaining for stock buybacks through 2027.
Management is ahead of schedule on its $310 million cost-out target and anticipates further margin expansion through plant-level efficiencies and automation over the next 1-3 years.
For 2026, Dana projects CapEx to be around 4%-4.5% of sales and aims for a 4% free cash flow margin. The EV backlog is expected to be lower than previously thought due to cancellations and delays, but this also means less investment is required.

Dec 3, 2025, 6:00 PM

Transcript

Dana Inc. Provides Q4 2025 Outlook and Updates on Off-Highway Sale and Capital Allocation

DAN

M&A

Guidance Update

Share Buyback

Dana Inc. is on track to achieve its implied fourth-quarter 2025 guidance.
The sale of the off-highway business is expected to close by year-end 2025, with $2 billion allocated for deleveraging and $1 billion for capital return, including $400 million remaining for stock buybacks through 2027.
The company anticipates margin improvements in 2026 for the light vehicle segment and has achieved $310 million in cost reductions, with future CapEx projected at 4%-4.5% of sales for 2026.
The commercial vehicle market is expected to remain flat in the first half of 2026, though Dana is gaining market share, and the sale of the off-highway business is expected to improve working capital efficiency.