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Tuesday, February 13, 2018

=Dana (DAN) reported earnings on Tue 13 Feb 2018 (b/o)

Dana Inc beats by $0.08, beats on revs; reaffirms FY18 EPS, revs guidance
  • Reports Q4 (Dec) earnings of $0.62 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.54; revenues rose 27.0% year/year to $1.84 bln vs the $1.82 bln Capital IQ Consensus.
  • Adjusted EBITDA for the fourth quarter of 2017 was $197 million, a $31 millionincrease over the same period last year. Last year's fourth quarter benefited from $8 million of gains in the Dana Companies subsidiary that was divested at the end of 2016. Profit in 2017 benefited from higher end-market demand and conversion of the sales backlog as well as earnings from acquisitions completed in the first quarter of 2017.
  • Co reaffirms guidance for FY18, sees EPS of $2.60-2.90, excluding non-recurring items, vs. $2.88 Capital IQ Consensus Estimate; sees FY18 revs of $7.5-7.7 bln vs. $7.76 bln Capital IQ Consensus Estimate.
    • Strong end-market demand and the new-business backlog are driving an expected 6 percent sales growth in 2018. Continued strong demand for key light-truck programs is expected into 2018, as is higher end-market demand for off-highway equipment and commercial vehicles. Increased sales from the new-business backlog are expected to add approximately $300 million, and improved end-market demand is expected to accrete $100 million.
    • Adjusted EBITDA in 2018 is expected to improve by approximately $100 million, or 70 basis points of margin improvement. This improvement is driven primarily by higher sales levels, ongoing efficiency improvements, and acquisition synergies. 

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