Dana Incorporated reported first‑quarter 2026 revenue of $1.87 billion, up 5 % from $1.78 billion in the same period last year, beating analyst estimates of roughly $1.82 billion. Adjusted EBITDA rose to $171 million, giving a margin of 9.2 % versus 5.2 % in Q1 2025. The jump in margin reflects the company’s ongoing cost‑saving initiatives, currency translation gains, and a favorable product mix.
The quarter also highlighted a new business win with Stellantis for the RAM Dakota program, which will supply front‑drive units and rear axles for an all‑new platform slated to begin production in early 2028. The contract adds approximately $950 million to the three‑year net new sales backlog, reinforcing Dana’s position in the high‑margin light‑vehicle segment.
Dana reaffirmed its full‑year 2026 guidance, maintaining sales outlook of $7.30 billion to $7.70 billion and adjusted EBITDA of $750 million to $850 million. The company also reiterated its diluted adjusted EPS guidance of $2.00 to $3.00. Management said the results demonstrate progress under the Dana 2030 plan, which targets higher sales, structurally higher margins, and increased adjusted free cash flow.
"Our first‑quarter results demonstrate our progress with meaningful margin expansion and continued momentum in new business wins. The Dana 2030 plan outlines a clear path to higher sales, structurally higher margins and increased adjusted free cash flow generation. With a best in sector balance sheet, we have continued to generate meaningful value to our shareholders through a continued commitment to disciplined capital allocation." – R. Bruce McDonald, Chairman and CEO
"Dana 2030 establishes ambitious long‑term targets, and our near‑term focus is on translating that vision into sustained execution and performance improvement. The pace of recent new business wins demonstrates the strength of our product portfolio and reinforces Dana's long‑term growth trajectory. As macro and market conditions begin to improve, we are unlocking incremental operating leverage. At the same time our teams are executing with discipline, improving efficiency, and positioning Dana to deliver increased performance throughout the year." – Byron Foster, incoming CEO
Analysts responded to the earnings by raising price targets, with UBS lifting its target to $42, Barclays to $41, and JPMorgan to $45. The upgrades reflected the company’s margin expansion, new contract, and reaffirmed guidance.
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