10-K · February 27, 2026
Dana completed a strategic repositioning of the company in 2025 by divesting its Off-Highway business (presented as discontinued operations), realizing substantial cost reductions and reallocating capital toward debt…
Earnings analysis · 10-Q
DAN earnings analysis
Filed May 15, 2026 · Our reading of the company's report
The latest report
Dana Incorporated reported its Q1 2026 earnings with total sales of $1.868 billion, marking a 4.9% increase year-over-year, driven by pricing actions and favorable currency effects. The gross margin improved…
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Dana Incorporated reported its Q1 2026 earnings with total sales of $1.868 billion, marking a 4.9% increase year-over-year, driven by pricing actions and favorable currency effects. The gross margin improved significantly to 9.0%, up from 6.6% in the same quarter last year, contributing to a notable uptick in EBITDA. However, net cash used in operating activities increased to $195 million, reflecting challenges in working capital management and industry headwinds.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Gross margin
- 9.0%
What stood out
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Sales Growth Year-Over-Year
Revenue rose to $1.868 billion in Q1 2026, up 4.9% from $1.781 billion in Q1 2025.
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Improved Gross Margin
Gross margin improved to 9.0% in Q1 2026 compared to 6.6% in Q1 2025.
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Lower SG&A Expenses
SG&A decreased to $102 million (5.5% of sales) from $105 million (5.9%) a year earlier.
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Segment EBITDA Increase
Light Vehicle segment EBITDA rose by $44 million year-over-year, driven by pricing and cost recovery initiatives.
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Successful Off-Highway Divestiture
Closed the sale of the Off-Highway business providing initial cash proceeds of $2.664 billion.
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Decreased Interest Expense
Interest expense dropped to $22 million from $39 million year-over-year, indicating reduced debt servicing costs.
What to watch
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Negative Operating Cash Flow
Cash used in operating activities increased to $195 million from $37 million a year earlier, reflecting operational challenges.
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High Inventory Levels
Cash used to finance receivables and higher inventories was significant, highlighting working capital issues.
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Weakening Medium/Heavy Truck Market
Class 8 and Classes 5-7 truck production in North America decreased by 25% and 20% respectively, impacting sales.
Management's outlook
Management expects 2026 sales between $7.3 billion and $7.7 billion, citing currency tailwinds and backlog conversion.
Earlier filings 4
10-Q · April 30, 2025
Dana reported Q1 2025 revenue of $2,352 million and diluted EPS of $0.17, with operating income of $72 million. Revenue declined versus the prior-year quarter while gross profit, operating margin and attributable net…
10-K · February 20, 2025
Dana positions itself as a global leader in power-conveyance and energy-management solutions with an explicit strategy organized around four operating segments (Light Vehicle, Commercial Vehicle, Off-Highway and Power…
10-Q · October 30, 2024
Dana reported Q3 net sales of $2,476M, down $193M (-7.2%) versus Q3 2023, with diluted EPS declining to $0.03 from $0.13 a year ago. Gross margin expanded modestly to ~9.9% and operating margin held roughly steady at…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.