LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free research report on Dana Inc. (NYSE: DAN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DAN as the Company's latest news hit the wire. On January 17, 2018, the Company, which is a leading engineering solutions provider in the powered vehicles and machinery industry, announced its financial results for the full fiscal year 2017 (FY17), and provided guidance for the full fiscal year 2018 (FY18). Dana stated that the preliminary sales and adjusted EBITDA for FY17 were in-line with the Company's previous guidance, while the FY18 guidance reflected significant sales, earnings, and cash flow growth. The Company added that it would increase its quarterly dividend from $0.06 per share to $0.10 per share, and that its Board of Directors authorized the repurchase of up to $100 million of its common shares over the next two years. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dana most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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2017 Financial Results
Dana reported net sales of $7.2 million in FY17, advancing about $1.4 billion, or 24% y-o-y, versus net sales in FY16. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $835 in FY17, up $175 million y-o-y. The Company attributed the surge in sales to strong end-market demand, acquisitions, conversion of sales backlog, and favorable currency translation. The Company additionally updated its sales backlog to $800 million for 2018-2020, a 7% increase over the initial three-year backlog. According to Dana, the increase in the backlog was driven by new business wins as the currency and market expectations lay relatively stable.
2018 Guidance
Dana also announced its guidance for FY18, anticipating sales to grow about 6% y-o-y. The Company expects net sales to be in the range of $7.5 billion to $7.7 billion, while adjusted EBITDA, as a fraction of sales, is expected to be 12.1% to 12.5%. Moreover, operating cash flow is expected to be about 7.5% of net sales. Capital spending is expected to 4.0% of sales, while free cash flow is expected to be about 3.5% of sales.
Dana attributed the updated guidance and the 6% growth to strong end-market demand and new-business backlog. The Company expects continued strong demand for key light-truck programs in 2018, and higher end-market demand for off-highway equipment and commercial vehicles. Moreover, increased sales from the new-business backlog is expected to add about $300 million, while the improved end-market demand is expected to grow $100 million, according to the Company.
Share Repurchase Program
Dana additionally announced that its Board of Directors approved a share repurchase program, authorizing the purchase of up to $100 million of common shares over the next two years. The Company stated that it expects shares to be purchased in the open market or through privately negotiated transactions, and also expects to have sufficient free cash flow and liquidity during the period to support the initiative.
Dana's Targets for FY19
In addition to the initial announcements, Dana updated its 2019 targets where it expects sales to advance by $700 million, while the diluted adjusted EPS is expected to grow $0.40, compared to the prior 2019 target ranges, owing to the impact of stronger than expected end-market demand.
On November 02, 2017, Dana announced that it introduced a new line of Spicer u-joints featuring the Spicer Life Series (SPL) technology, designed to deliver greater service life than conventional u-joints. The Spicer Blue-Coated Performance U-Joints were subjected to 1,000 hours of salt fog spray and mud testing to evaluate their corrosion resistance compared to non-coated u-joints. According to Dana, the blue-coated Performance U-joints exhibited less than 10% red rust.
Stock Performance Snapshot
January 18, 2018 - At Thursday's closing bell, Dana's stock fell 2.52%, ending the trading session at $33.68.
Volume traded for the day: 1.05 million shares.
Stock performance in the last month – up 6.31%; previous three-month period – up 16.14%; past twelve-month period – up 72.54%; and year-to-date - up 5.22%
After yesterday's close, Dana's market cap was at $4.88 billion.
Price to Earnings (P/E) ratio was at 7.06.
The stock has a dividend yield of 0.71%.
The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry.
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