Dana Prelim. FY25 Sales Decline, Expects Lower Sales In FY25; Stock Up In Pre-Market

(RTTNews) - Dana Inc., (DAN), Friday announced preliminary results for the fiscal year 2024, reporting sales of around $10.3 billion in line with prior guidance, compared to last year's $10.6 billion.

The company attributed the decline in sales to weaker market demand for electric vehicles, commercial trucks, off-highway equipment, and higher inventory of certain light truck programs.

For the full year 2025, Dana projects lower sales due to weaker demand for off-highway equipment and translation of foreign currency.

However, cost-saving actions such as the sale of its Off-Highway business and efficiency improvements are estimated to drive higher margins.

In the pre-market hours, Dana's stock is climbing 9.07 percent, to $14.43 on the New York Stock Exchange.