Dana Reports Q4 Loss, Plans $300 Million Cost Savings

Dana Incorporated reported its fourth quarter and full-year 2024 financial results, revealing a decline in sales to $10.3 billion, attributed to lower demand in vehicle markets. Despite facing a net loss of $57 million, the company noted an increase in adjusted EBITDA by $40 million, supported by significant cost-saving measures expected to yield $300 million in annualized savings by 2026. The fourth quarter's adjusted net income rose to $36 million, contrasting with a loss from the previous year, reflecting the benefits of efficiency improvements. CEO Bruce McDonald expressed optimism for 2025, forecasting a 10% increase in adjusted EBITDA alongside a rise in free cash flow. Dana's strategic focus on cost reduction and operational efficiency aims to enhance shareholder value. The company also reported a new business sales backlog of $650 million, indicating strong future prospects.