Highlights

  • Second quarter sales were USD 2,010 million, versus USD 1,935 million; earnings before interest and taxes were USD 76 million.
  • Dana sold its Off-Highway business to Allison Transmission on January 1, 2026, for gross cash proceeds of USD 2,664 million.
  • Second quarter net loss attributable to the parent was USD 5 million; diluted continuing earnings were USD 0.05 per share.
  • 2026 outlook: sales of USD 7,650 million to 7,850 million; adjusted EBITDA of USD 800 million to 850 million.

Dana Incorporated (NYSE: DAN) shares closed at USD 26.83 on October 23, 2026, down 4.96%. The company's most recent quarterly report on file is its Form 10-Q for the period ended June 30, 2026, filed on August 6.

Dana is headquartered in Maumee, Ohio, and was incorporated in Delaware in 2007, with a history dating back to 1904. It provides power-conveyance and energy-management solutions for on-highway vehicles, including drive systems, electrodynamic technologies, sealing solutions, thermal-management technologies and digital solutions. Its customers include virtually every major on-highway vehicle manufacturer, and its fiscal year ends December 31.

Second Quarter 2026 Results

Dana reported sales of USD 2,010 million for the three months ended June 30, 2026, compared with USD 1,935 million a year earlier. Cost of sales was USD 1,800 million against USD 1,797 million, and selling, general and administrative expenses were USD 104 million against USD 99 million. Restructuring charges, net, were USD 9 million.

Earnings from continuing operations before interest and income taxes were USD 76 million, compared with USD 16 million. Diluted earnings from continuing operations were USD 0.05 per share against a loss of USD 0.11. Including discontinued operations, net income attributable to the parent company was a loss of USD 5 million, compared with income of USD 27 million.

For the six months, sales were USD 3,878 million against USD 3,716 million. Net income attributable to the parent company was USD 1,082 million against USD 52 million, and basic earnings per share were USD 9.93 against USD 0.36, which reflects discontinued operations earnings of USD 10.05 per share.

Off-Highway Sale

On January 1, 2026, Dana completed the sale of its Off-Highway business to Allison Transmission Holdings, Inc., under an agreement signed in June 2025. Dana received gross cash proceeds of USD 2,664 million. After post-closing adjustments for working capital and net indebtedness, it paid USD 34 million to Allison in the second quarter.

Of the proceeds, USD 82 million relates to the business's Mexican operations, which had not yet legally transferred to Allison. That amount is deferred in other accrued liabilities, and the related assets and liabilities remain classified as held for sale. The business is reported in discontinued operations.

Capital Returns, Cash and Program Charges

Dana's board increased and extended its share repurchase program to a total of USD 2,000 million through December 31, 2030, on February 11, 2026. The company repurchased 1,240,858 shares for USD 44 million in the second quarter and 5,664,914 shares for USD 169 million in the six months. About USD 1,181 million remained available at June 30, 2026.

Cash and cash equivalents were USD 331 million, compared with USD 469 million at December 31, 2025. Purchases of property, plant and equipment were USD 204 million in the six months. The cash flow statement includes noncash electric vehicle program termination charges of USD 59 million.

2026 Outlook

Dana's outlook for 2026 includes sales of USD 7,650 million to USD 7,850 million, adjusted EBITDA of USD 800 million to USD 850 million and adjusted free cash flow of USD 275 million to USD 375 million. Adjusted EBITDA and adjusted free cash flow are non-GAAP measures, and the company does not provide a reconciliation of its adjusted EBITDA outlook to net income. These are company expectations.