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Dana’s Adjusted Sales, Earnings Rise
Powertrain components supplier Dana Inc. reports its sales, excluding unfavorable exchange rates, climbed 14% to $1.7 billion in the third quarter.
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Powertrain components supplier Dana Inc. reports its sales, excluding unfavorable exchange rates, climbed 14% to $1.7 billion in the third quarter. Net income, adjusted to ignore a one-time tax allowance last year, rose 32% to $157 million.
On an unadjusted basis, the company’s quarterly sales and net income dropped 6% and 52%, respectively. Adjusted earnings before interest, taxes, depreciation and amortization in July-September advanced by $1 million to $168 million.
Dana’s third-quarter sales of light-vehicle driveline components rose 4% to $631 million. The company’s commercial vehicle and off-highway driveline operations saw their sales fall 20% to $294 million and 19% to $199 million, respectively.
Dana affirms its full-year guidance for sales of $5.8 billion, adjusted EBITDA of $655 million and a capital spending budget of $320 million.
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