Exhibit 99.1

 

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IMMEDIATE

Dana Incorporated Announces Third-Quarter 2017 Financial Results

Raises Full-Year Guidance

Highlights

 

    Sales of $1.8 billion; 32 percent year-over-year growth; 21 percent organic growth

 

    Net income attributable to Dana of $69 million; diluted EPS of $0.46

 

    Adjusted EBITDA of $216 million, providing a margin of 11.8 percent

 

    Diluted adjusted EPS of $0.59; 20 percent growth compared with last year

 

    Operating cash flow of $181 million; free cash flow of $99 million

 

    Full-year 2017 guidance raised:

 

    Sales guidance increased by $200 million

 

    Adjusted EBITDA guidance increased by $30 million

 

    Margin guidance increased by 10 basis points

 

    Diluted adjusted EPS guidance increased by 10 cents per share

 

    Free cash flow guidance increased by $50 million

MAUMEE, Ohio, Oct. 26, 2017 – Dana Incorporated (NYSE: DAN) today announced financial results for the third quarter of 2017.

“The third quarter was further evidence that our dedicated team members are committed to successfully executing our enterprise strategy. We continue to generate strong organic growth, remaining focused on new business launches while successfully integrating our recent acquisitions,” said James Kamsickas, Dana president and chief executive officer. “The combination of strong market demand, new business, and cost discipline has enabled all four of our business units to deliver improved margins over the first nine months of this year. We continue to deliver industry-leading products and services for our customers, returns for our investors, and value for all our stakeholders.”

Third-Quarter Financial Results

Sales for the third quarter of 2017 totaled $1.83 billion, compared with $1.38 billion in the same period of 2016, an increase of 32 percent for the quarter and 23 percent year-to-date. The quarterly increase was driven in part by recent acquisitions that contributed $133 million. Currency provided a tailwind to sales of $28 million. Excluding acquisitions and currency effects, stronger market demand and new business generated 21 percent organic sales growth.

Net income attributable to Dana for the third quarter of 2017 was $69 million, compared with $57 million in the same period last year. Net income benefited from increased adjusted EBITDA of $48 million and reduced restructuring expense of $15 million. Partially offsetting these benefits were increased depreciation and amortization expense, largely attributable to our recent acquisitions and a higher level of capital investment, increased income tax expense, and costs of $13 million associated with debt refinancing actions undertaken this past quarter. Reported diluted earnings per share were $0.46 in the third quarter of 2017, compared with $0.39 in the same period last year.


The following information was filed by Dana Inc (DAN) on Thursday, October 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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