Dana reports Q3 EPS 64c, consensus 32c

Reports Q3 revenue $1.92B, consensus $1.9B. “Our business is performing very well, and we are experiencing minimal impact from market fluctuations and customer production disruptions,” said R. Bruce McDonald, Dana (DAN) chairman and chief executive officer. “Our $310 million cost-savings initiative is on track, with over $70 million in savings in the third quarter we are exceeding our expectations. We now expect our fourth-quarter adjusted EBITDA margin to be consistent with our forecasted 2026 margin of 10-10.5 percent. We expect to complete the Off-Highway divestiture in the fourth quarter of this year. The benefits of this transaction are already being realized as we execute our $1 billion capital return program, including $189 million in share repurchases during the quarter. We expect to repurchase an additional $155 million in the fourth quarter, bringing the total to $600 million for the year.”