Dana Q1 sales up 3.4% to $2.74B; adj EBITDA $223M; raises FY FCF guidance

DANA Inc

2024-Q1 EPS reported $0.02 revenue$2,735,000,000

Sales $2.74B (+$91M YoY); net income $3M ($0.02 diluted EPS) vs $28M ($0.19) in Q1 2023.
Adjusted EBITDA $223M (+$19M); margin 8.2% (+50 bps); profit conversion on organic sales 39%.
Free cash flow use $172M vs $290M YoY; full-year FCF guidance raised by $25M to $50-$100M.
European hydraulics divestiture for ~$40M expected Q2 2024; $29M charge recognized in quarter.
FY 2024 outlook: sales $10.65-$11.15B, adj EBITDA $875-$975M, diluted EPS $0.35-$0.85.

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