Dana(NYSE) DAN

Dana Incorporated makes parts that help cars and trucks move and stay cool. These products help vehicle makers build more efficient and sustainable vehicles. The company provides essential systems to global vehicle manufacturers.

What Drives the Business?

• Light Vehicle Systems: Axles, driveshafts, and transmissions for passenger cars and light trucks; accounted for 68.6% of total sales in the three-month period ended June 30, 2026.
• Commercial Vehicle Systems: Driveline and motion systems for heavy trucks and buses; represented 31.4% of total sales in the three-month period ended June 30, 2026.
• Aftermarket Solutions: Replacement parts and maintenance services sold globally under brands like Spicer and Victor Reinz.
• Power Technologies: Sealing and thermal parts like gaskets and cooling modules integrated into the light and commercial segments in 2025.

Recent Moves and Major Changes

• Sold the Off-Highway business to Allison Transmission Holdings, Inc. on Jan. 1, 2026, for $2.6 billion.
• Entered into an agreement to acquire the Mobility business segments from Eaton Corporation on June 10, 2026.
• Increased a share repurchase program to a total of $2 billion through the end of 2030 on Feb. 11, 2026.
• Implemented a cost reduction plan in late 2024 to reach $325 million in annualized savings by 2026.

What Makes the Company Stand Out?

Dana operates in 24 countries and employed approximately 27,300 people as of June 30, 2026. The company provides parts for traditional internal combustion engines as well as hybrid and electric vehicle propulsion systems.

A Look at the Numbers

• Net sales reached $2.01 billion in the three-month period ended June 30, 2026.
• Gross margin was $210 million in the second quarter of 2026, up $72 million year over year.
• Net income hit $1.1 billion for the six-month period ended June 30, 2026, primarily due to the sale of the Off-Highway unit.
• Non-GAAP adjusted EBITDA was $207 million in the three-month period ended June 30, 2026, up from $147 million year over year.
• Total liquidity was $1.5 billion as of June 30, 2026, including $331 million in cash and cash equivalents.

Bottom Line

Dana has transitioned into a more focused provider of on-highway vehicle systems by divesting noncore units and acquiring specialized mobility businesses. This shift aligns the company with global trends toward vehicle electrification and more efficient power-management technologies.