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Dana Posts Best Results in 8 Years
Dana Inc. says its 2018 sales and earnings are the best since the company emerged from bankruptcy protection in 2008.
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Dana Inc. says its 2018 sales and earnings are the best since the company emerged from bankruptcy protection in 2008.
The Ohio-based driveline, sealing and thermal management supplier reports that its revenue last year climbed 13% to $8.1 billion. Net income nearly quadrupled to $427 million. Both results are record highs.
Fourth-quarter results saw revenue grow 7% to $2 billion. Net income for the period swung to a $100 million gain from a $104 million loss in the same period in 2017. Th 2017 loss was due to a one-time adjustment related to changes in U.S. corporate tax rules.
Dana predicts its revenue this year will expand by as much as $1 billion. The company expects its adjusted earnings before interest, taxes, depreciation and amortization will reach at least $995 million compared with $957 million in 2018.
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