Dana Incorporated Reports Strong First-Quarter Results; Maintains Full-Year Guidance
In a press release dated April 29, 2026, Dana Incorporated (NYSE: DAN) has announced robust financial results for the first quarter of 2026, showcasing a solid upward trajectory in both sales and adjusted EBITDA. The company remains confident in its full-year guidance while also celebrating a significant new business award that enhances its market presence.
1. Strong Financial Performance
Dana's sales for the first quarter reached $1.87 billion, a notable increase from $1.78 billion in the same period in 2025. This growth is attributed to customer recoveries and favorable currency translations. The company's adjusted EBITDA also saw a substantial rise, reaching $171 million, which translates to a margin of 9.2%. This figure marks a significant improvement from the $93 million, or 5.2% margin, reported in the first quarter of 2025.
CEO R. Bruce McDonald emphasized the company's commitment to controlling its cost structure and executing disciplined operational strategies, which have been key drivers in enhancing their margins. "Our first-quarter results demonstrate our progress with meaningful margin expansion and continued momentum in new business wins," he remarked.
2. Cash Flow Dynamics
Despite the increase in sales and EBITDA, Dana reported a use of operating cash flow amounting to $156 million, compared to a use of $37 million in the first quarter of 2025. The adjusted free cash flow also reflected similar challenges, with a use of $195 million for the quarter, up from $101 million in the previous year. These figures indicate the company's continued investment in operational enhancements and infrastructure.
3. New Business Wins with Stellantis
In a significant development, Dana announced a new business award from Stellantis for the RAM Dakota program, which will expand its footprint in the compact truck market. This award includes the provision of front drive units and rear axles for a new vehicle platform, with production slated to commence in early 2028. This win bolsters Dana's three-year net new sales backlog to approximately $950 million, underscoring the company's momentum in securing high-quality new business.
Byron Foster, the incoming CEO of Dana, expressed optimism about the future, stating, "The pace of recent new business wins demonstrates the strength of our product portfolio and reinforces Dana's long-term growth trajectory." He underscored the importance of translating the ambitious goals of the Dana 2030 plan into tangible performance improvements.
4. 2026 Financial Targets Updated
Dana has revised its financial targets for the remainder of 2026, outlining the following expectations:
| Metric | Revised Guidance |
|---|---|
| Sales | $7.30 to $7.70 billion |
| Adjusted EBITDA | $750 to $850 million |
| Implied Adjusted EBITDA Margin | 10.0% to 11.0% |
| Diluted Adjusted EPS | $2.00 to $3.00 |
| Adjusted Free Cash Flow | $250 to $350 million |
These targets reflect the company's strategic focus on enhancing sales and profitability while maintaining a disciplined approach to capital allocation.
5. Conference Call Announcement
Dana will host a conference call at 9 a.m. EDT on April 29, 2026, to further discuss its first-quarter results. Participants can access the call using the specified toll-free and toll dial-in numbers and are encouraged to join early for registration.
6. Conclusion
Dana Incorporated's strong first-quarter results and the announcement of a significant new business win reflect its robust operational strategy and commitment to growth. As the company navigates through 2026, it aims to leverage its strategic initiatives to enhance shareholder value while positioning itself favorably in the competitive automotive landscape.
