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August 9, 2021

Dana Q2 net income up US$227m to US$53m

US supplier records significant Q2 improvement.

By Simon Warburton

Dana has posted second-quarter net income of US$53m, an increase of US$227m, with sales up US$1.1bn to US$2.2bn.

“Dana delivered strong performance in the second quarter as a result of ongoing strong demand across all three of our end markets,” said Dana chairman and CEO, James Kamsickas.

“We continue to actively manage through a challenging supply-chain environment and our team has done an excellent job proactively responding to the regional impacts of COVID-19.

“Like everyone, we remain cautious about the second half of the year, but our balanced business model positions us well to navigate through external pressures as we remain focused on launching our new business backlog and expanding our vehicle electrification business.”

For his part, Dana EVP and CFO, Jonathan Collins, added: “We are maintaining our full-year guidance ranges but indicating that sales will likely be at the higher end due to the strong market demand in the first half of this year and our outlook for the remainder of the year.

“Our solid performance and encouraging demand fundamentals keep us locked on a trajectory toward our long-term financial goals.”

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