F - Dana Overcomes Challenges With Q3 EPS Beat But Foresees $500M Sales Drop If No UAW Strike Resolution By Year's End | Benzinga
Dana Incorporated (NYSE: DAN) reported third-quarter FY23 sales growth of 5% year-on-year to $2.669 billion, missing the consensus of $2.695 billion.
Adjusted EPS of $0.30 beat the analyst consensus of $0.13.
The revenue increase was driven by higher market demand, cost-recovery actions, and conversion of sales backlog, partially offset by the lower demand due to the UAW strike at two of its key customers.
Adjusted EBITDA for Q3 was $242 million, compared with $192 million Y/Y.
The 150 basis points of margin improvement in Q3 was primarily driven by higher sales volume and beneficial mix, ...