Dana's FY24 Preliminary Results Highlight Increased Margins Amid EV Demand Slowdown; Stock Jumps
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 24 2025
0mins
Source: Benzinga
FY24 Preliminary Results: Dana Incorporated reported sales of approximately $10.3 billion for FY24, slightly above consensus expectations, but down from the previous year due to weaker demand in key sectors. Adjusted EBITDA increased to about $885 million, and the company announced a cost reduction target of $300 million through 2026.
FY25 Outlook and Business Restructuring: For FY25, Dana expects sales between $9.525 billion and $10.025 billion, with an adjusted EBITDA forecast of $925 million to $1.025 billion. The company plans to restructure its business segments and is considering selling its Off-Highway segment, which will be classified as discontinued operations once a deal is reached.
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Analyst Views on DAN
Wall Street analysts forecast DAN stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 26.130
Low
24.00
Averages
26.60
High
28.00
Current: 26.130
Low
24.00
Averages
26.60
High
28.00
About DAN
Dana Incorporated specializes in designing and manufacturing propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The Company is providing solutions for on-highway vehicles. The Company's technologies include drive systems (axles, driveshafts and transmissions); electrodynamic technologies (motors, inverters, software and control systems, battery-management systems, and fuel cell plates); sealing solutions (gaskets, seals, cam covers, and oil pan modules); thermal-management technologies (transmission and engine oil cooling, battery and electronics cooling, charge air cooling, and thermal-acoustical protective shielding), and digital solutions (active and passive system controls and descriptive and predictive analytics). The Company serves its global light vehicle and medium/heavy vehicle markets through two business units: Light Vehicle Systems and Commercial Vehicle Systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- High Cash Acquisition: Nuvalent, Inc. is being sold to GSK plc for $124.00 per share in cash, providing significant cash returns to shareholders and potentially attracting more investor interest in the company.
- Merger Ownership Ratio: The merger between Boundless Bio, Inc. and Serapha Bio, Inc. is expected to leave Boundless Bio shareholders with only about 3.7% of the combined company, which may raise concerns among shareholders regarding the terms of the merger.
See More
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- Element Solutions Acquisition: Element Solutions is set to be acquired by Solstice Advanced Materials in a deal where shareholders will receive $10.00 in cash and 0.500 shares of Solstice stock, totaling approximately $50.10 per share, with investigations into whether the Board breached fiduciary duties to ensure fair value for shareholders.
- Boundless Bio Merger: Boundless Bio will be acquired by Serapha Bio, with pre-merger Boundless shareholders expected to own about 3.7% of the combined entity, raising concerns over whether the Board failed to conduct a fair process to secure fair value for shareholders.
- Nuvalent Acquisition Deal: Nuvalent will be acquired by GSK for $124.00 per share in cash, valuing the deal at $10.6 billion, with investigations focusing on whether the Board breached fiduciary duties by not ensuring a fair transaction process for shareholders.
- Dana Merger Transaction: Dana will be acquired by Eaton Corporation in a deal valued at approximately $5.1 billion, with Eaton shareholders owning at least 50.1% post-merger, prompting investigations into whether the Board failed to conduct a fair process to secure fair value for shareholders.
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- Cash Acquisition Concerns: Nuvalent, Inc. (NASDAQ: NUVL) is being sold to GSK plc for $124.00 per share in cash, raising concerns about potential violations of shareholder rights in this transaction.
- Shareholder Equity in Merger: Dana Incorporated (NYSE: DAN) is set to be sold to Eaton Corporation plc, with Dana shareholders expected to own approximately 49.9% of the combined entity post-transaction, which may affect their control.
- Cash Transaction Impact: Taylor Morrison Home Corporation (NYSE: TMHC) is being sold to Berkshire Hathaway Inc. for $72.50 per common share in cash, which could significantly impact shareholder interests, prompting Halper Sadeh LLC to seek increased compensation and disclosures for shareholders.
See More
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- Dana Merger Review: Dana will be acquired by Eaton in a transaction valued at approximately $5.1 billion, where Eaton shareholders will own at least 50.1% of the combined entity, raising concerns about whether Dana's Board ensured fair value for its shareholders.
- SUNation Merger Issues: SUNation Energy is merging with Suniva, resulting in pre-merger SUNation shareholders holding only about 1.8% of the combined company, with investigations questioning whether the Board conducted a fair process to protect shareholder interests.
- Taylor Morrison Acquisition Investigation: Taylor Morrison will be acquired by Berkshire Hathaway for $72.50 per share, totaling approximately $6.8 billion, with investigations into whether the Board fulfilled its fiduciary duties to ensure the fairness of the transaction for shareholders.
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- Dana Transaction Details: Upon closing the deal with Eaton Corporation plc, Dana shareholders will own approximately 49.9% of the combined company, a stake that could significantly impact their long-term interests.
- Payoneer Acquisition Situation: Payoneer is being sold to Nuvei for $7.40 per share in cash, and Halper Sadeh LLC may seek to increase compensation for shareholders to ensure fairness in the transaction.
- Axalta Transaction Terms: Axalta will exchange each share of its common stock for 0.6539 shares of AkzoNobel stock, with Halper Sadeh LLC representing shareholders to seek additional information and transparency to protect shareholder rights.
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- Roku Transaction Details: Roku, Inc. (NASDAQ: ROKU) is set to be sold to Fox Corporation for $96.00 in cash and 0.9693 shares of Fox Class A common stock per Roku share, which could significantly affect shareholder returns, prompting Halper Sadeh LLC to encourage shareholders to understand their legal rights.
- TruBridge Acquisition Status: TruBridge, Inc. (NASDAQ: TBRG) is being sold to Inventurus Knowledge Solutions, Inc. for $26.25 in cash per share, with terms that may affect shareholder interests, leading Halper Sadeh LLC to remind shareholders to stay informed about their rights.
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