Dana Incorporated reported its full-year 2024 financial results, revealing a decline in sales to $10.3 billion, down $271 million from the previous year. The company experienced a net loss of $57 million, compared to a net income of $38 million in 2023. However, adjusted net income increased to $136 million from $122 million in the prior year.
Despite the decrease in sales, Dana Incorporated saw an increase in adjusted EBITDA to $885 million, marking a $40 million growth from the previous year. Additionally, the company achieved a 60-basis-point improvement in adjusted EBITDA margin, reaching 8.6 percent in 2024.
Furthermore, the company's free cash flow surged to $70 million, marking a substantial increase of $95 million compared to 2023. Dana Incorporated also reported a three-year new business sales backlog of $650 million, indicating strong future prospects.
Looking ahead, Dana Incorporated announced its 2025 guidance, which reflects a 10 percent increase in adjusted EBITDA and a $155 million increase in free cash flow. The company anticipates sales in the range of $9.525 to $10.025 billion for 2025.
In the fourth quarter of 2024, sales totaled $2.3 billion, down from $2.5 billion in the same period of 2023. Despite the decline in sales, the company's adjusted EBITDA for the fourth quarter of 2024 increased to $186 million, up from $156 million for the same period in 2023. The net loss attributable to Dana was $80 million, compared to a net loss of $39 million in the fourth quarter of 2023.
Dana Incorporated's full-year 2024 results demonstrate a mixed performance, with decreased sales offset by improved adjusted EBITDA and free cash flow. The company's cost-saving actions and efficiency improvements have contributed to these results, positioning it for continued progress and value creation in 2025. Today the company's shares have moved -1.5% to a price of $16.16. For the full picture, make sure to review Dana's 8-K report.
