Dana Studies Q3 Web Loss, Income Acquire

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Dana Inc. posted combined leads to the third quarter, citing ongoing provide and manufacturing disruptions.

Within the quarter ended Sept. 30, Dana reported a web loss attributable to the corporate of $88 million, or a lack of 61 cents per diluted share, in contrast with web revenue of $50 million, or 33 cents, a yr earlier.

The corporate reported the online loss was associated to a business automobile goodwill impairment cost attributed to persevering with value inflation, demand sample disruptions and better low cost charges.

Income, nevertheless, reached $2.5 billion in contrast with $2.2 billion a yr in the past.

In contrast with a yr earlier, income from its mild automobile phase was $1 billion in contrast with $918 million; in business autos was $505 million in contrast with $396 million; in off-highway was $694 million in contrast with $627 million; and in energy applied sciences was $289 million in contrast with $263 million.

“Dana generated stable earnings and free money movement [$77 million] once more this quarter as end-market demand remained robust regardless of ongoing provide and manufacturing disruptions impacting the worldwide mobility trade,” Chairman and CEO James Kamsickas mentioned in a launch.

“Whereas report inflationary prices proceed to be a problem, I’m very pleased with the perseverance and dedication our workforce has displayed whereas executing our enterprisewide transformation that has led to important new enterprise progress in each conventional and electric-vehicle options. Dana is effectively positioned to complete the yr robust and capitalize on new alternatives throughout our markets as soon as this setting begins to stabilize,” he added.

In its presentation, the Maumee, Ohio-based firm famous unique gear producers’ provide constraints had been driving risky demand, resulting in inefficient, stop-and-go manufacturing, so:

• Disrupted order patterns continued.
• The most important affect was within the light-vehicle markets.
• OEM provide constraints will seemingly proceed for the rest of the yr.

Different value inflation elements:

• Power.
• Labor.
• Transportation/gasoline.
• Web inflation sequentially larger, in-line with present steering.
• Price restoration actions proceed.
• Robust U.S. greenback translating to decrease gross sales and revenue.
• Metals costs moderating.

Components associated to on market demand:

• Vendor automobile and gear inventories stay low.
• Person demand for key automobile platforms stays robust.
• Order ebook stays robust for heavy autos into 2023.

The corporate reported EV penetration in any respect ranges and markets with its elements, programs and integration.

Key business electrical automobile clients embrace: The Lion Electrical Co., Paccar Inc.’s Peterbilt Motors Co., Kenworth Truck Co. and DAF manufacturers, Traton Group, the mum or dad of Navistar’s Worldwide model, Volvo Vans North America. It additionally serves Oshkosh, Xos, Freightliner Customized Chassis, a unit of Daimler Truck North America; Lonestar Specialty Automobiles, a producer of electrical terminal tractors; and electrical work truck and chassis producer Bollinger Motors — amongst many others in its varied segments.

Dana’s business automobile merchandise embrace lively and passive system controls, drive axles, e-axles, inverters, cylinder head gaskets, gasoline cell plates, and battery, motor and electronics cooling programs.

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