{"success":true,"data":{"pressRelease":{"id":"110939","rtpr_id":"nPnf1H1Ra","ticker":"DAN","exchange":"NYSE","all_tickers":["DAN"],"title":"Dana Incorporated Reports Strong Second-Quarter Results; Increases Full-Year Guidance; Restarts Share Repurchase Program","author":"PR Newswire","published_at":"2026-08-06T10:59:00.981Z","article_body":"Dana Incorporated Reports Strong Second-Quarter Results; Increases Full-Year Guidance; Restarts Share Repurchase Program\n\nPR Newswire\n\nMAUMEE, Ohio, Aug. 6, 2026\n\nSecond-Quarter Highlights:\n\n * Sales of $2.0 billion, up 4 percent versus the second quarter of 2025\n * Adjusted EBITDA of $207 million; $60 million higher than second quarter of\n2025\n * 10.3 percent adjusted EBITDA margin; 270 basis points higher than prior year\n * Achieved $19 million in additional cost savings\n * Repurchased 1.2 million shares, returning $44 million to shareholders\n * Year-to-date shareholder returns of $169 million\n * Planning an additional ~$200 million of repurchases in 2026\n * Eaton Mobility transaction remains on track for first-quarter of 2027 close\nMAUMEE, Ohio, Aug. 6, 2026 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today\nannounced its second-quarter 2026 financial results, delivering strong\nperformance, expanding margins, and increasing its full-year outlook.\n\n\"Dana continues to execute our strategy with discipline and consistency,\ndelivering another quarter of strong margin expansion while advancing our\nlong-term growth initiatives,\" said Byron Foster, Chief Executive Officer.\n\"Our performance reflects the benefits of pricing actions, operational\nimprovements, and continued cost-savings initiatives, while demand has\nimproved across our end markets. We have also announced that we are restarting\nour share repurchase program to continue until the closing of the Eaton\nMobility transaction and remain committed to returning meaningful capital to\nshareholders. Combined with the strategic value creation opportunities\nassociated with the planned Eaton Mobility transaction, we believe Dana is\nwell positioned to deliver sustainable growth and increased shareholder\nvalue.\"\n\nSales in the second quarter of 2026 totaled $2.01 billion, compared with $1.94\nbillion in the same period of 2025. The increase was primarily driven by\nhigher demand across end markets, pricing actions, and favorable currency\ntranslation.\n\nAdjusted EBITDA for the second quarter was $207 million, representing a 10.3\npercent margin, compared with $147 million, or 7.6 percent, for the same\nperiod in 2025. Cost-savings actions, operational efficiency improvements, and\npricing initiatives were the primary drivers of the improvement.\n\nNet income from continuing operations was $11 million in the second quarter of\n2026, compared with a loss of $12 million, in the second quarter of 2025.\nDiluted earnings per share from continuing operations were $0.06 in the second\nquarter of 2026 compared to a loss of $0.11 last year.  The second quarter of\n2026 benefited from significantly improved operating performance, reflecting\ncost-reduction initiatives, material cost savings, operational improvements,\nand lower net interest expense associated with debt repayment following the\nOff-Highway divestiture.\n\nAdjusted net income was $21 million in the second quarter of 2026, compared\nwith $4 million in the prior-year period, while diluted adjusted earnings per\nshare increased to $0.19 from $0.03\n\nOperating cash flow in the second quarter of 2026 was $109 million, compared\nwith $32 million in the same period of 2025. Adjusted free cash flow was $68\nmillion, compared with a use of $7 million in the second quarter of 2025.\nHigher profitability, lower one-time costs, lower taxes, and improved working\ncapital performance more than offset the loss of discontinued operations\nfollowing the Off-Highway divestiture.\n\nDana today announced the restart of its share repurchase program, which had\nbeen suspended following the announcement of the proposed Eaton Mobility\ntransaction. During the second quarter, the company repurchased approximately\n1.2 million shares, returning $44 million to shareholders. Year-to-date, Dana\nhas returned $169 million to shareholders and expects to repurchase an\nadditional $200 million of shares before the end of 2026. Dana and Eaton are\nevaluating the possibility of additional share repurchases following the\nclosing of the transaction.\n\nDana also has continued to make progress on its announced combination with\nEaton's Mobility business. The companies now expect to utilize a split-off\nstructure for the transaction, which is intended to be tax-free to\nshareholders and provides for an orderly distribution of shares. The\ntransaction remains on track to close during the first quarter of 2027,\nsubject to approval by Dana shareholders, receipt of regulatory approvals, and\ncustomary closing conditions.\n\n\"The planned combination with Eaton Mobility remains a highly strategic\nopportunity that accelerates our Dana 2030 objectives and creates a stronger,\nmore diversified global powertrain leader,\" Foster added. \"At the same time,\nwe remain focused on executing the initiatives within our control—improving\nour cost structure, enhancing manufacturing performance, generating strong\ncash flow, and returning capital to shareholders.\"\n\nDana has revised its full-year financial guidance upward, increasing its sales\noutlook by approximately $225 million and its adjusted EBITDA outlook by\napproximately $25 million. The higher guidance reflects stronger market\nconditions, favorable commercial-vehicle demand, ongoing cost-reduction\nactions, and favorable currency translation.\n\nRevised 2026 Financial Targets\n                                 Revised Guidance\n Sales                           $7.65 to $7.85 billion\n Adjusted EBITDA                 $800 to $850 million\n Implied adjusted EBITDA margin  ~10.6%\n Diluted Adjusted EPS            $1.75 to $2.25\n Adjusted free cash flow         $275 to $375 million\n\nDana to Host Conference Call at 9 a.m. Thursday, August 6\nDana will discuss its second quarter 2026 results in a conference call at 9\na.m. EDT on Thursday, August 6.  The conference call can be accessed by\ntelephone from both domestic and international locations using the information\nprovided below:\n\nConference ID: 9943139\nParticipant Toll-Free Dial-In Number: (888) 440-5873\nParticipant Toll Dial-In Number: +1 (646) 960-0319\n\nAudio streaming and slides will be available online via a link provided on the\nDana investor website: www.dana.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747040-1&h=1992771923&u=http%3A%2F%2Fwww.dana.com%2Finvestors&a=www.dana.com%2Finvestors)\n.  Phone registration will be available beginning at 8:30 a.m. EDT.\nA webcast replay can be accessed via Dana's investor website following the\ncall.\n\nCautionary Notes on Forward-Looking Statements\nThis communication includes \"forward-looking statements\" within the meaning of\nthe federal securities laws, including Section 27A of the Securities Act of\n1933, as amended (the \"Securities Act\"), and Section 21E of the Securities\nExchange Act of 1934, as amended by the Private Securities Litigation Reform\nAct of 1995, including statements regarding the proposed transaction between\nEaton Corporation plc (\"Eaton\"), Dana Incorporated (\"Dana\") and Mobility (USA)\nCorporation (\"SpinCo\"), as well as statements regarding Dana's business,\nfinancial condition and results of operations more generally. These\nforward-looking statements generally are identified by the words \"believe,\"\n\"project,\" \"expect,\" \"anticipate,\" \"estimate,\" \"forecast,\" \"outlook,\"\n\"target,\" \"endeavor,\" \"seek,\" \"predict,\" \"intend,\" \"strategy,\" \"plan,\" \"may,\"\n\"could,\" \"should,\" \"will,\" \"would,\" \"potential,\" \"continue,\" \"ongoing,\" or the\nnegative thereof or variations thereon or similar terminology generally\nintended to identify forward-looking statements. All statements, other than\nhistorical facts, including, but not limited to, statements regarding Dana's\ncurrent expectations, estimates and projections about its industry and\nbusiness, the expected timing and structure of the proposed transaction and\nfinancing of the transaction, the ability of the parties to complete the\nproposed transaction, the expected benefits of the proposed transaction,\nincluding future financial and operating results and strategic and synergistic\nbenefits, the tax consequences of the proposed transaction and the combined\ncompany's plans, objectives, expectations and intentions, legal, economic and\nregulatory conditions, and any assumptions underlying any of the foregoing,\nare forward-looking statements.\n\nThese forward-looking statements are based on Dana's current expectations and\nare subject to risks and uncertainties and are not guarantees of future\nresults. Should one or more of these risks or uncertainties materialize, or\nshould underlying assumptions prove incorrect, actual results may vary\nmaterially from those indicated or anticipated by such forward-looking\nstatements. The inclusion of such statements should not be regarded as a\nrepresentation that such plans, estimates or expectations will be achieved.\nImportant factors that could cause actual results to differ materially from\nsuch plans, estimates or expectations include, among others, the ability to\ncomplete the proposed transaction on the timeframe or on the terms currently\nanticipated or at all, including due to a failure to obtain requisite\nstockholder and/or regulatory approvals; risks related to difficulties,\ninabilities or delays in integrating the businesses of Dana and SpinCo; the\nability to realize the anticipated benefits of the proposed transaction,\nincluding estimated combined EBITDA, estimated combined revenue and estimated\nrun-rate cost synergies; potential impact of the proposed transaction on\nDana's stock price; restrictions on the conduct of Dana's business prior to\nand after closing and on its ability to pursue alternatives to the proposed\ntransaction; the possibility that the proposed transaction may be more\nexpensive to complete than anticipated, including as a result of unexpected\nfactors or events, or unforeseen or unknown liabilities; the ability of the\ncombined company to implement its business strategy; the inability of the\ncombined company to retain and hire key personnel; the occurrence of any event\nthat could give rise to termination of the proposed transaction; the risk that\nstockholder litigation in connection with the proposed transaction or other\nlitigation, settlements or investigations may affect the timing or occurrence\nof the proposed transaction or result in significant costs of defense,\nindemnification and liability; risks relating to the ability to obtain\nfinancing for the transaction upon acceptable terms or at all; evolving legal,\nregulatory and tax regimes; changes in general economic and/or industry\nspecific conditions; global economic repercussions related to U.S. and global\ninflationary pressures and potential recessionary concerns; the risks that the\nanticipated tax treatment of the proposed transaction is not obtained; the\nrisk of greater than expected difficulty in separating the business of SpinCo\nfrom the other businesses of Eaton; risks related to the disruption of\nmanagement time from ongoing business operations due to the pendency of the\nproposed transaction, or other effects of the pendency of the proposed\ntransaction on the relationship of any of the parties to the transaction with\ntheir employees, customers, suppliers or other counterparties; and other risk\nfactors detailed from time to time in Dana's reports filed with the Securities\nand Exchange Commission (the \"SEC\"), including Dana's annual reports on Form\n10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other\ndocuments filed with the SEC, including documents that will be filed with the\nSEC in connection with the proposed transaction. The foregoing list of\nimportant factors is not exclusive.\n\nAny forward-looking statements speak only as of the date of this\ncommunication. Dana does not undertake, and expressly disclaims, any\nobligation to update any forward-looking statements, whether as a result of\nnew information or development, future events or otherwise, except as required\nby law. Readers are cautioned not to place undue reliance on any of these\nforward-looking statements.\n\nIt should also be noted that projected financial information for the combined\ncompany is based on management's estimates, assumptions and projections and\nhas not been prepared in conformance with the applicable accounting\nrequirements of Regulation S-X relating to pro forma financial information,\nand the required pro forma adjustments have not been applied and are not\nreflected therein. None of this information should be considered in isolation\nfrom, or as a substitute for, the historical financial statements of Dana or\nSpinCo.\n\nImportant Information About the Transaction and Where to Find It\n\nIn connection with the proposed transaction, SpinCo may file with the SEC an\ninformation statement on Form 10 (\"Form 10\") or a registration statement on\nForm S-1/S-4 (the \"Form S-1/S-4\") that constitutes a prospectus with respect\nto the shares of common stock, par value $0.01 per share, of SpinCo (the\n\"SpinCo shares\") to be issued to Eaton shareholders in the proposed exchange\noffer (the \"prospectus/offer to exchange\"). Eaton may also file with the SEC a\ntender offer statement (the \"Schedule TO\") with respect to the offer by Eaton\nto exchange all SpinCo shares for ordinary shares, par value $0.01 per share,\nof Eaton that are validly tendered and not properly withdrawn prior to the\nexpiration of the exchange offer (if any). In addition, SpinCo intends to file\nwith the SEC a registration statement on Form S-4 (the \"Form S-4\") that will\ninclude a proxy statement of Dana and that also constitutes a prospectus of\nSpinCo with respect to the SpinCo shares to be issued in the proposed merger\n(the \"proxy statement/prospectus\"). Each of Eaton, SpinCo and Dana may also\nfile other relevant documents with the SEC regarding the proposed transaction.\n\nThis document is not a substitute for the Form 10, Form S-1/S-4, Schedule TO,\nForm S-4, prospectus/offer to exchange, proxy statement/prospectus or any\nother document that Eaton, SpinCo or Dana may file with the SEC. INVESTORS AND\nSECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENTS, THE SCHEDULE\nTO; THE PROSPECTUS/OFFER TO EXCHANGE, THE PROXY STATEMENT/PROSPECTUS AND ANY\nOTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY\nAMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY\nIF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN\nIMPORTANT INFORMATION ABOUT EATON, DANA, SPINCO AND THE PROPOSED TRANSACTION.\nInvestors and security holders will be able to obtain free copies of the Form\n10, Form S-1/S-4, Schedule TO, Form S-4, the prospectus/offer to exchange and\nthe proxy statement/prospectus (if and when available) and other documents\ncontaining important information about Eaton, Dana and SpinCo and the proposed\ntransaction, once such documents are filed with the SEC through the website\nmaintained by the SEC at http://www.sec.gov (http://www.sec.gov) . Copies of\nthe documents filed with, or furnished to, the SEC by Eaton and SpinCo will be\navailable free of charge on Eaton's website at\nhttps://www.eaton.com/us/en-us/company/investor-relations.html\n(https://www.eaton.com/us/en-us/company/investor-relations.html) . Copies of\nthe documents filed with, or furnished to, the SEC by Dana will be available\nfree of charge on Dana's website at https://danaincorporated.gcs-web.com/\n(https://danaincorporated.gcs-web.com/) . The information included on, or\naccessible through, Eaton or Dana's website is not incorporated by reference\ninto this communication.\n\nParticipants in the Solicitation\n\nEaton, Dana, SpinCo and certain of their respective directors and executive\nofficers may be deemed to be participants in the solicitation of proxies in\nrespect of the proposed transaction. Information about the directors and\nexecutive officers of Eaton, including a description of their direct or\nindirect interests, by security holdings or otherwise, is set forth in Eaton's\nproxy statement for its 2026 Annual General Meeting of Shareholders, which was\nfiled with the SEC on March 13, 2026. Information about the directors and\nexecutive officers of Dana, including a description of their direct or\nindirect interests, by security holdings or otherwise, is set forth in Dana's\nproxy statement for its 2026 Annual Meeting of Stockholders, which was filed\nwith the SEC on March 13, 2026. Other information regarding the participants\nin the proxy solicitation and a description of their direct and indirect\ninterests, by security holdings or otherwise, will be contained in the Form\nS-4 and the proxy statement/prospectus and other relevant materials to be\nfiled with the SEC regarding the proposed transaction when such materials\nbecome available. Investors should read the Form 10, Form S-1/S-4, Schedule\nTO, Form S-4, the prospectus/offer to exchange and the proxy\nstatement/prospectus carefully if and when available before making any voting\nor investment decisions. You may obtain free copies of these documents from\nEaton or Dana using the sources indicated above.\n\nNo Offer or Solicitation\n\nThis communication is not intended to and shall not constitute an offer to\nsell or the solicitation of an offer to sell or the solicitation of an offer\nto buy or exchange any securities, or a solicitation of any vote or approval,\nnor shall there be any sale of securities in any jurisdiction in which such\noffer, solicitation, sale or exchange would be unlawful prior to registration\nor qualification under the securities laws of any such jurisdiction. No offer\nof securities shall be made except by means of a prospectus meeting the\nrequirements of Section 10 of the Securities Act or in a transaction exempt\nfrom the registration requirements of the Securities Act.\n\nNote Regarding Use of Non-GAAP Financial Measures\nIn addition to the financial measures presented in accordance with U.S.\ngenerally accepted accounting principles (\"U.S. GAAP\"), this communication\nincludes certain non-GAAP financial measures (collectively, the \"Non-GAAP\nMeasures\"), such as adjusted EBITDA, adjusted EBITDA margin, adjusted net\nincome (loss) attributable to the parent company, diluted adjusted EPS,\nadjusted free cash flow and adjusted free cash flow margin.\n\nAdjusted EBITDA is a non-GAAP financial measure which we have defined as net\nincome (loss) before interest, income taxes, depreciation, amortization,\nequity grant expense, restructuring expense, non-service cost components of\npension and other postretirement benefit costs and other adjustments not\nrelated to our core operations (gain/loss on debt extinguishment, pension\nsettlements, divestitures, impairment, etc.). Adjusted EBITDA is a measure of\nour ability to maintain and continue to invest in our operations and provide\nshareholder returns. We use adjusted EBITDA in assessing the effectiveness of\nour business strategies, evaluating and pricing potential acquisitions and as\na factor in making incentive compensation decisions. In addition to its use by\nmanagement, we also believe adjusted EBITDA is a measure widely used by\nsecurities analysts, investors and others to evaluate financial performance of\nour company relative to other Tier 1 automotive suppliers.\n\nAdjusted net income (loss) attributable to the parent company is a non-GAAP\nfinancial measure which we have defined as net income (loss) attributable to\nthe parent company, excluding any discrete income tax items, restructuring\ncharges, amortization expense and other adjustments not related to our core\noperations (as used in adjusted EBITDA), net of any associated income tax\neffects. This measure is considered useful for purposes of providing\ninvestors, analysts and other interested parties with an indicator of ongoing\nfinancial performance that provides enhanced comparability to net income\n(loss) attributable to the parent company reported by other companies.\nAdjusted net income (loss) attributable to the parent company is neither\nintended to represent nor be an alternative measure to net income (loss)\nattributable to the parent company reported in accordance with GAAP.\n\nDiluted adjusted EPS is a non-GAAP financial measure which we have defined as\nadjusted net income (loss) attributable to the parent company divided by\nadjusted diluted shares. We define adjusted diluted shares as diluted shares\nas determined in accordance with GAAP based on adjusted net income (loss)\nattributable to the parent company. This measure is considered useful for\npurposes of providing investors, analysts and other interested parties with an\nindicator of ongoing financial performance that provides enhanced\ncomparability to EPS reported by other companies. Diluted adjusted EPS is\nneither intended to represent nor be an alternative measure to diluted EPS\nreported in accordance with GAAP.\n\nAdjusted free cash flow is a non-GAAP financial measure which we have defined\nas net cash provided by (used in) operating activities less purchases of\nproperty, plant and equipment plus proceeds from sale of property, plant and\nequipment plus cash paid for Off-Highway business divestiture related\nactivities. We believe adjusted free cash flow is useful to investors in\nevaluating the operational cash flow of the company inclusive of the spending\nrequired to maintain the operations. Adjusted free cash flow is not intended\nto represent nor be an alternative to the measure of net cash provided by\n(used in) operating activities reported in accordance with GAAP.\n\nThese Non-GAAP Measures should not be used in isolation or as a substitute or\nalternative to results determined in accordance with U.S. GAAP. In addition,\nDana's and Eaton's definitions of these Non-GAAP Measures may not be\ncomparable to similarly titled non-GAAP financial measures reported by other\ncompanies. A reconciliation of these Non-GAAP Measures to the most directly\ncomparable financial measures calculated and reported in accordance with U.S.\nGAAP can be found in Dana's filings with the SEC and/or the accompanying\nfinancial information, except for financial guidance and other forward-looking\ninformation since such a reconciliation is not practicable without\nunreasonable effort as Dana is unable to reasonably forecast certain amounts\nthat are necessary for such reconciliation. We have not provided a\nreconciliation of our adjusted EBITDA outlook to the most comparable GAAP\nmeasures of net income (loss). Providing net income (loss) guidance is\npotentially misleading and not practical given the difficulty of projecting\nevent-driven transactional and other non-core operating items that are\nincluded in net income (loss), including restructuring actions, asset\nimpairments and certain income tax adjustments. The accompanying\nreconciliations of these non-GAAP measures with the most comparable GAAP\nmeasures for the historical periods presented are indicative of the\nreconciliations that will be prepared upon completion of the periods covered\nby the non-GAAP guidance.\n\nAbout Dana Incorporated\nDana Incorporated (NYSE: DAN) is a global leader in the design and manufacture\nof highly efficient propulsion solutions for the light- and\ncommercial‑vehicle markets. Guided by its vision to be the world's best\npowertrain company, Dana delivers advanced conventional and clean‑energy\ntechnologies that help customers improve the performance, efficiency, and\ndurability of their vehicles. The company supplies leading vehicle\nmanufacturers and related aftermarkets with industry‑defining drive systems,\nelectrodynamic technologies, and thermal and sealing solutions.\n\nHeadquartered in Maumee, Ohio, USA, Dana reported sales of $7.5 billion in\n2025. With a history dating to 1904, the company employs 27,000 people in 24\ncountries across six continents. Learn more at dana.com\n  DANA INCORPORATED\n  Consolidated Statement of Operations (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                                 Three Months Ended\n  (In millions, except per share amounts)                                                        June 30,\n                                                                                                 2026                                  2025\n  Net sales                                                                                      $      2,010                          $      1,935\n  Costs and expenses\n      Cost of sales                                                                              1,800                                 1,797\n      Selling, general and administrative expenses                                               104                                   99\n      Amortization of intangibles                                                                1                                     2\n      Restructuring charges, net                                                                 9                                     11\n  Other income (expense), net                                                                    (20)                                  (10)\n  Earnings from continuing operations before interest and income taxes                           76                                    16\n  Interest income                                                                                4                                     3\n  Interest expense                                                                               21                                    44\n  Earnings (loss) from continuing operations before income taxes                                 59                                    (25)\n  Income tax expense                                                                             54                                    10\n  Equity in earnings of affiliates                                                               6                                     23\n  Net income (loss) from continuing operations                                                   11                                    (12)\n  Net income (loss) from discontinued operations                                                 (11)                                  43\n  Net income                                                                                     -                                     31\n      Less: Noncontrolling interests net income from continuing                                  5                                     4\n operations\n  Net income (loss) attributable to the parent company                                           $            (5)                      $           27\n\n  Net income (loss) per share available to common stockholders\n     Basic earnings (loss) per share from continuing operations                                  $        0.06                         $       (0.11)\n     Basic earnings (loss) per share from discontinued operations                                (0.11)                                0.30\n     Basic earnings (loss) per share                                                             $       (0.05)                        $        0.19\n\n     Diluted earnings (loss) per share from continuing operations                                $        0.05                         $       (0.11)\n     Diluted earnings (loss) per share from discontinued operations                              (0.10)                                0.30\n     Diluted earnings (loss) per share                                                           $       (0.05)                        $        0.19\n\n  Weighted-average shares outstanding - Basic                                                    108.1                                 143.8\n  Weighted-average shares outstanding - Diluted                                                  109.5                                 143.8\n\n  DANA INCORPORATED\n  Consolidated Statement of Operations (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                                 Six Months Ended\n  (In millions, except per share amounts)                                                        June 30,\n                                                                                                 2026                                  2025\n  Net sales                                                                                      $      3,878                          $      3,716\n  Costs and expenses\n      Cost of sales                                                                              3,499                                 3,460\n      Selling, general and administrative expenses                                               206                                   204\n      Amortization of intangibles                                                                3                                     4\n      Restructuring charges, net                                                                 15                                    13\n  Other income (expense), net                                                                    (60)                                  (11)\n  Earnings from continuing operations before interest and income taxes                           95                                    24\n  Loss on extinguishment of debt                                                                 (7)                                   -\n  Interest income                                                                                10                                    5\n  Interest expense                                                                               43                                    83\n  Earnings (loss) from continuing operations before income taxes                                 55                                    (54)\n  Income tax expense                                                                             68                                    -\n  Equity in earnings of affiliates                                                               9                                     25\n  Net loss from continuing operations                                                            (4)                                   (29)\n  Net income from discontinued operations                                                        1,095                                 90\n  Net income                                                                                     1,091                                 61\n      Less: Noncontrolling interests net income from continuing                                  9                                     9\n operations\n  Net income attributable to the parent company                                                  $      1,082                          $           52\n\n  Net income (loss) per share available to common stockholders\n     Basic loss per share from continuing operations                                             $       (0.12)                        $       (0.26)\n     Basic earnings per share from discontinued operations                                       10.05                                 0.62\n     Basic earnings per share                                                                    $        9.93                         $        0.36\n\n     Diluted loss per share from continuing operations                                           $       (0.12)                        $       (0.26)\n     Diluted earnings per share from discontinued operations                                     10.05                                 0.62\n     Diluted earnings per share                                                                  $        9.93                         $        0.36\n\n  Weighted-average shares outstanding - Basic                                                    109.0                                 144.7\n  Weighted-average shares outstanding - Diluted                                                  109.0                                 144.7\n\n \n  DANA INCORPORATED\n  Consolidated Statement of Comprehensive Income (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                                                Three Months Ended\n  (In millions)                                                                                                 June 30,\n                                                                                                                2026                                  2025\n  Net income (loss) from continuing operations                                                                  $           11                        $          (12)\n  Other comprehensive income (loss) from continuing operations, net of tax:\n                        Currency translation adjustments                                                        21                                    35\n                        Hedging gains and losses                                                                (2)                                   23\n                                                  Other comprehensive income from continuing operations         19                                    58\n Total comprehensive income from continuing operations                                                          30                                    46\n Net income (loss) from discontinued operations                                                                 (11)                                  43\n Other comprehensive income (loss) from discontinued operations, net of tax:\n                        Currency translation adjustments                                                        -                                     6\n                        Hedging gains and losses                                                                -                                     1\n                                                  Other comprehensive income from discontinued operations       -                                     7\n Total comprehensive income (loss) from discontinued operations                                                 (11)                                  50\n Total comprehensive income                                                                                     19                                    96\n                        Less: Comprehensive income from continuing operations attributable to                   (5)                                   (6)\n                        noncontrolling interests\n Comprehensive income attributable to the parent company                                                        $           14                        $           90\n\n  DANA INCORPORATED\n  Consolidated Statement of Comprehensive Income (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                                                Six Months Ended\n  (In millions)                                                                                                 June 30,\n                                                                                                                2026                                  2025\n  Net loss from continuing operations                                                                           $            (4)                      $          (29)\n  Other comprehensive income (loss) from continuing operations, net of tax:\n                        Currency translation adjustments                                                        23                                    47\n                        Hedging gains and losses                                                                (6)                                   41\n                        Defined benefit plans                                                                   (1)                                   -\n                                                  Other comprehensive income from continuing operations         16                                    88\n Total comprehensive income from continuing operations                                                          12                                    59\n Net income from discontinued operations                                                                        1,095                                 90\n Other comprehensive income (loss) from discontinued operations, net of tax:\n                        Currency translation adjustments                                                        179                                   8\n                        Hedging gains and losses                                                                -                                     1\n                                                  Other comprehensive income from discontinued operations       179                                   9\n Total comprehensive income from discontinued operations                                                        1,274                                 99\n Total comprehensive income                                                                                     1,286                                 158\n                        Less: Comprehensive income from continuing operations attributable to                   (9)                                   (11)\n                        noncontrolling interests\n Comprehensive income attributable to the parent company                                                        $      1,277                          $         147\n\n \n  DANA INCORPORATED\n  Consolidated Balance Sheet (Unaudited)\n  As of June 30, 2026 and December 31, 2025\n\n  (In millions, except share and per share amounts)                                                                         June 30,                                   December 31,\n                                                                                                                            2026                                       2025\n  Assets\n  Current assets\n  Cash and cash equivalents                                                                                                 $                331                       $                469\n  Accounts receivable\n                             Trade, less allowance for doubtful accounts of $12 in 2026 and $15 in 2025                     1,287                                      987\n                             Other                                                                                          286                                        254\n  Inventories                                                                                                               980                                        1,015\n  Other current assets                                                                                                      285                                        114\n  Current assets of disposal group held for sale                                                                            36                                         1,029\n                                                                       Total current assets                                 3,205                                      3,868\n  Intangibles                                                                                                               58                                         71\n  Deferred tax assets                                                                                                       495                                        534\n  Other noncurrent assets                                                                                                   114                                        102\n  Investments in affiliates                                                                                                 112                                        102\n  Operating lease assets                                                                                                    166                                        305\n  Property, plant and equipment, net                                                                                        1,942                                      1,872\n  Noncurrent assets of disposal group held for sale                                                                         21                                         954\n                                                                       Total assets                                         $             6,113                        $             7,808\n\n  Liabilities and equity\n  Current liabilities\n  Short-term debt                                                                                                           $                   -                      $                615\n  Current portion of long-term debt                                                                                         27                                         30\n  Accounts payable                                                                                                          1,301                                      1,154\n  Accrued payroll and employee benefits                                                                                     170                                        210\n  Taxes on income                                                                                                           78                                         75\n  Current portion of operating lease liabilities                                                                            34                                         41\n  Other accrued liabilities                                                                                                 532                                        495\n  Current liabilities of disposal group held for sale                                                                       14                                         688\n                                                                       Total current liabilities                            2,156                                      3,308\n  Long-term debt, less debt issuance costs of $8 in 2026 and $16 in 2025                                                    1,317                                      2,566\n  Noncurrent operating lease liabilities                                                                                    125                                        266\n  Pension and postretirement obligations                                                                                    241                                        249\n  Other noncurrent liabilities                                                                                              291                                        337\n  Noncurrent liabilities of disposal group held for sale                                                                    -                                          183\n                                                                       Total liabilities                                    4,130                                      6,909\n  Commitments and contingencies\n  Parent company stockholders' equity\n                             Preferred stock, 50,000,000 shares authorized, $0.01 par value,\n                                                                       no shares outstanding                                -                                          -\n                             Common stock, 450,000,000 shares authorized, $0.01 par value,\n                                                                       107,576,158 and 112,284,138 shares outstanding       1                                          1\n                             Additional paid-in capital                                                                     1,518                                      1,671\n                             Retained earnings                                                                              1,290                                      235\n                             Treasury stock, at cost (2,508,917 and 1,944,700 shares)                                       (52)                                       (35)\n                             Accumulated other comprehensive loss                                                           (837)                                      (1,032)\n                                                                       Total parent company stockholders' equity            1,920                                      840\n  Noncontrolling interests                                                                                                  63                                         59\n                                                                       Total equity                                         1,983                                      899\n                                                                       Total liabilities and equity                         $             6,113                        $             7,808\n\n \n  DANA INCORPORATED\n  Consolidated Statement of Cash Flows (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                 Three Months Ended\n  (In millions)                                                                  June 30,\n                                                                                 2026                                2025\n  Operating activities\n  Net income                                                                     $            -                      $           31\n  Less: Net income (loss) from discontinued operations                           (11)                                43\n  Net income (loss) from continuing operations                                   11                                  (12)\n  Depreciation                                                                   82                                  89\n  Amortization                                                                   2                                   3\n  Amortization of deferred financings charges                                    10                                  2\n  Earnings of affiliates, net of dividends received                              (5)                                 (23)\n  Stock compensation expense                                                     8                                   10\n  Deferred income taxes                                                          19                                  (8)\n  Pension expense, net                                                           1                                   1\n  Change in working capital                                                      31                                  216\n  Change in other noncurrent assets and liabilities                              (34)                                (10)\n  Loss on divestiture of ownership interests                                     -                                   7\n  Noncash electric vehicle program termination charges                           7                                   -\n  Other, net                                                                     (8)                                 59\n  Net cash provided by operating activities from continuing operations           124                                 334\n  Net cash used in operating activities from discontinued operations             (15)                                (302)\n  Net cash provided by operating activities                                      109                                 32\n\n  Investing activities\n  Purchases of property, plant and equipment                                     (142)                               (37)\n  Proceeds from sale of property, plant and equipment                            1                                   -\n  Proceeds from sales of investments                                             1                                   57\n  Settlements of undesignated derivatives                                        (2)                                 (4)\n  Other, net                                                                     (1)                                 3\n  Net cash provided by (used in) investing activities from continuing            (143)                               19\n operations\n  Net cash used in investing activities from discontinued operations             (35)                                (14)\n  Net cash provided by (used in) investing activities                            (178)                               5\n\n  Financing activities\n  Net change in short-term debt                                                  (3)                                 401\n  Repayment of long-term debt                                                    (8)                                 (206)\n  Dividends paid to common stockholders                                          (13)                                (14)\n  Repurchases of common stock                                                    (44)                                (257)\n  Distributions to noncontrolling interests                                      (1)                                 (2)\n  Swap settlements                                                               -                                   (8)\n  Other, net                                                                     (7)                                 (8)\n  Net cash used in financing activities                                          (76)                                (94)\n\n  Net decrease in cash, cash equivalents and restricted cash                     (145)                               (57)\n  Cash, cash equivalents and restricted cash − beginning of period               492                                 523\n  Effect of exchange rate changes on cash balances                               2                                   35\n  Cash, cash equivalents and restricted cash − end of period                     $         349                       $         501\n\n  DANA INCORPORATED\n  Consolidated Statement of Cash Flows (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                 Six Months Ended\n  (In millions)                                                                  June 30,\n                                                                                 2026                                2025\n  Operating activities\n  Net income                                                                     $      1,091                        $           61\n  Less: Net income from discontinued operations                                  1,095                               90\n  Net loss from continuing operations                                            (4)                                 (29)\n  Depreciation                                                                   166                                 171\n  Amortization                                                                   5                                   6\n  Amortization of deferred financings charges                                    2                                   3\n  Earnings of affiliates, net of dividends received                              (8)                                 (25)\n  Stock compensation expense                                                     19                                  23\n  Deferred income taxes                                                          30                                  (26)\n  Pension expense, net                                                           (4)                                 -\n  Change in working capital                                                      (221)                               (202)\n  Change in other noncurrent assets and liabilities                              (23)                                (13)\n  Loss on divestiture of ownership interests                                     8                                   7\n  Noncash electric vehicle program termination charges                           59                                  -\n  Other, net                                                                     (39)                                54\n  Net cash used in operating activities from continuing operations               (10)                                (31)\n  Net cash provided by (used in) operating activities from discontinued          (76)                                26\n operations\n  Net cash used in operating activities                                          (86)                                (5)\n\n  Investing activities\n  Purchases of property, plant and equipment                                     (204)                               (104)\n  Proceeds from sale of property, plant and equipment                            2                                   11\n  Proceeds from sales of investments                                             1                                   57\n  Settlements of undesignated derivatives                                        (6)                                 (6)\n  Other, net                                                                     -                                   4\n  Net cash used in investing activities from continuing operations               (207)                               (38)\n  Net cash provided by (used) in investing activities from discontinued          2,528                               (22)\n operations\n  Net cash provided by (used in) investing activities                            2,321                               (60)\n\n  Financing activities\n  Net change in short-term debt                                                  (618)                               522\n  Repayment of long-term debt                                                    (1,338)                             (210)\n  Dividends paid to common stockholders                                          (26)                                (29)\n  Repurchases of common stock                                                    (169)                               (257)\n  Distributions to noncontrolling interests                                      (2)                                 (3)\n  Payment for mandatorily redeemable noncontrolling interest                     (190)                               -\n  Swap settlements                                                               -                                   (14)\n  Other, net                                                                     (25)                                (8)\n  Net cash provided by (used in) financing activities                            (2,368)                             1\n\n  Net decrease in cash, cash equivalents and restricted cash                     (133)                               (64)\n  Cash, cash equivalents and restricted cash − beginning of period               486                                 512\n  Effect of exchange rate changes on cash balances                               (4)                                 53\n  Cash, cash equivalents and restricted cash − end of period                     $         349                       $         501\n\n \n  DANA INCORPORATED\n  Reconciliation of Net Cash Provided by (Used In) Operating Activities to\n    Adjusted Free Cash Flow (Unaudited)\n\n                                                                                                       Three Months Ended\n  (In millions)                                                                                        June 30,\n                                                                                                       2026                                 2025\n  Net cash provided by operating activities                                                            $       109                          $         32\n  Purchases of property, plant and equipment - Continuing operations                                   (142)                                (37)\n  Purchases of property, plant and equipment - Discontinued operations                                 (1)                                  (14)\n  Proceeds from sale of property, plant and equipment - Continuing                                     1                                    -\n operations\n  Cash paid for purchase of leased facilities                                                          88                                   -\n  Cash paid for Off-Highway business divestiture related activities                                    13                                   12\n  Adjusted free cash flow                                                                              $         68                         $          (7)\n\n                                                                                                       Six Months Ended\n  (In millions)                                                                                        June 30,\n                                                                                                       2026                                 2025\n  Net cash used in operating activities                                                                $        (86)                        $          (5)\n  Purchases of property, plant and equipment - Continuing operations                                   (204)                                (104)\n  Purchases of property, plant and equipment - Discontinued operations                                 (1)                                  (22)\n  Proceeds from sale of property, plant and equipment - Continuing                                     2                                    11\n operations\n  Cash paid for purchase of leased facilities                                                          88                                   -\n  Cash paid for Off-Highway business divestiture related activities                                    74                                   12\n  Adjusted free cash flow                                                                              $     (127)                          $     (108)\n\n \n  DANA INCORPORATED\n  Segment Sales and Adjusted EBITDA (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                           Three Months Ended\n  (In millions)                                                            June 30,\n                                                                           2026                                2025\n  Sales\n Light Vehicle                                                             $        1,379                      $        1,335\n Commercial Vehicle                                                        631                                 600\n  Total Sales                                                              $        2,010                      $        1,935\n\n  Adjusted EBITDA\n Light Vehicle                                                             $           143                     $           112\n Commercial Vehicle                                                        68                                  47\n Corporate expense and other items, net                                    (4)                                 (12)\n  Adjusted EBITDA                                                          $           207                     $           147\n\n  DANA INCORPORATED\n  Segment Sales and Adjusted EBITDA (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                           Six Months Ended\n  (In millions)                                                            June 30,\n                                                                           2026                                2025\n  Sales\n Light Vehicle                                                             $        2,648                      $        2,548\n Commercial Vehicle                                                        1,230                               1,168\n  Total Sales                                                              $        3,878                      $        3,716\n\n  Adjusted EBITDA\n Light Vehicle                                                             $           255                     $           180\n Commercial Vehicle                                                        131                                 88\n Corporate expense and other items, net                                    (8)                                 (28)\n  Adjusted EBITDA                                                          $           378                     $           240\n\n \n  DANA INCORPORATED\n  Reconciliation of Earnings (Loss) From Continuing Operations Before\n    Income Taxes to Adjusted EBITDA (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                               Three Months Ended\n  (In millions)                                                                                June 30,\n                                                                                               2026                                   2025\n  Earnings (loss) from continuing operations before income taxes                               $             59                       $            (25)\n  Adjustments related to continuing operations\n Interest income                                                                               (4)                                    (3)\n Interest expense                                                                              21                                     44\n Depreciation                                                                                  82                                     89\n Amortization                                                                                  2                                      3\n Non-service cost components of pension and OPEB costs                                         3                                      2\n Restructuring charges, net                                                                    9                                      11\n Stock compensation expense                                                                    8                                      10\n Strategic transaction expenses                                                                19                                     5\n Amounts attributable to previously closed/divested operations                                 1                                      -\n Distressed supplier costs                                                                     2                                      -\n Loss on divestiture of ownership interests                                                    -                                      7\n Electric vehicle program termination charges                                                  8                                      -\n Foreign exchange gain on unhedged intercompany loans                                          (2)                                    -\n Other items                                                                                   (1)                                    4\n  Adjusted EBITDA                                                                              $           207                        $           147\n\n  DANA INCORPORATED\n  Reconciliation of Earnings (Loss) From Continuing Operations Before\n    Income Taxes to Adjusted EBITDA (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                               Six Months Ended\n  (In millions)                                                                                June 30,\n                                                                                               2026                                   2025\n  Earnings (loss) from continuing operations before income taxes                               $             55                       $            (54)\n  Adjustments related to continuing operations\n Loss on extinguishment of debt                                                                7                                      -\n Interest income                                                                               (10)                                   (5)\n Interest expense                                                                              43                                     83\n Depreciation                                                                                  166                                    171\n Amortization                                                                                  5                                      6\n Non-service cost components of pension and OPEB costs                                         4                                      4\n Restructuring charges, net                                                                    15                                     13\n Stock compensation expense                                                                    19                                     23\n Strategic transaction expenses                                                                20                                     6\n Gain on sale of property, plant and equipment                                                 -                                      (1)\n Supplier capacity charge adjustment                                                           -                                      (19)\n Amounts attributable to previously closed/divested operations                                 1                                      -\n Distressed supplier costs                                                                     2                                      -\n Loss on divestiture of ownership interests                                                    8                                      7\n Electric vehicle program termination charges                                                  64                                     -\n Foreign exchange gain on unhedged intercompany loans                                          (23)                                   -\n Other items                                                                                   2                                      6\n  Adjusted EBITDA                                                                              $           378                        $           240\n\n \n  DANA INCORPORATED\n  Reconciliation of Net Income (Loss) Attributable to the Parent Company to\n    Adjusted Net Income Attributable to the Parent Company and\n    Diluted Adjusted EPS (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n  (In millions, except per share amounts)\n                                                                                                                                             Three Months Ended\n                                                                                                                                             June 30,\n                                                                                                                                             2026                                      2025\n  Net income (loss) attributable to the parent company                                                                                       $              (5)                        $             27\n  Items impacting income before income taxes:\n                                     Amortization                                                                                            2                                         3\n                                     Restructuring charges, net                                                                              9                                         11\n                                     Strategic transaction expenses                                                                          19                                        5\n                                     Loss on divestiture of ownership interests                                                              -                                         7\n                                     Electric vehicle program termination charges                                                            8                                         -\n                                     Amounts attributable to previously closed/divested operation                                            1                                         -\n                                     Distressed supplier costs                                                                               2                                         -\n                                     Foreign exchange gain on unhedged intercompany loans                                                    (2)                                       -\n                                     Net (income) loss from discontinued operations                                                          11                                        (43)\n                                     Other items                                                                                             1                                         -\n  Items impacting income taxes:\n                                     Net income tax benefit on items above                                                                   (25)                                      (11)\n                                     Income tax expense attributable to various discrete tax matters                                         -                                         5\n  Adjusted net income attributable to the parent company                                                                                     $             21                          $               4\n\n  Diluted shares - as reported                                                                                                               109.5                                     143.8\n  Adjusted diluted shares                                                                                                                    109.5                                     145.6\n\n  Diluted adjusted EPS                                                                                                                       $          0.19                           $          0.03\n\n  DANA INCORPORATED\n  Reconciliation of Net Income Attributable to the Parent Company to\n    Adjusted Net Income (Loss) Attributable to the Parent Company and\n    Diluted Adjusted EPS (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n  (In millions, except per share amounts)\n                                                                                                                                             Six Months Ended\n                                                                                                                                             June 30,\n                                                                                                                                             2026                                      2025\n  Net income attributable to the parent company                                                                                              $        1,082                            $             52\n  Items impacting income before income taxes:\n                                     Amortization                                                                                            5                                         6\n                                     Restructuring charges, net                                                                              15                                        13\n                                     Strategic transaction expenses                                                                          20                                        6\n                                     Supplier capacity commitment charge adjustment                                                          -                                         (19)\n                                     Loss on divestiture of ownership interests                                                              8                                         7\n                                     Electric vehicle program termination charges                                                            64                                        -\n                                     Loss on extinguishment of debt                                                                          7                                         -\n                                     Amounts attributable to previously closed/divested operation                                            1                                         -\n                                     Distressed supplier costs                                                                               2                                         -\n                                     Foreign exchange gain on unhedged intercompany loans                                                    (23)                                      -\n                                     Net income from discontinued operations                                                                 (1,095)                                   (90)\n                                     Other items                                                                                             1                                         -\n  Items impacting income taxes:\n                                     Net income tax benefit on items above                                                                   (62)                                      (5)\n                                     Income tax expense (benefit) attributable to various discrete tax matters                               12                                        (5)\n  Adjusted net income (loss) attributable to the parent company                                                                              $             37                          $            (35)\n\n  Diluted shares - as reported                                                                                                               109.0                                     144.7\n  Adjusted diluted shares                                                                                                                    110.3                                     144.7\n\n  Diluted adjusted EPS                                                                                                                       $          0.34                           $         (0.24)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/dana-incorporated-reports-strong-second-quarter-results-increases-full-year-guidance-restarts-share-repurchase-program-302844727.html\n(https://www.prnewswire.com/news-releases/dana-incorporated-reports-strong-second-quarter-results-increases-full-year-guidance-restarts-share-repurchase-program-302844727.html)\n\nSOURCE Dana Incorporated\n\n\n\nCraig Barber, +1-419-887-5166, craig.barber@dana.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS426966/DANA-INCORPORATED-LOGO-Logo.jpg?id=OA2829041\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPnf1H1Ra","title":"Dana Incorporated Reports Strong Second-Quarter Results; Increases Full-Year Guidance; Restarts Share Repurchase Program","author":"PR Newswire","ticker":"DAN","created":"2026-08-06T10:59:00.981Z","tickers":["DAN"],"exchange":"NYSE","article_body":"Dana Incorporated Reports Strong Second-Quarter Results; Increases Full-Year Guidance; Restarts Share Repurchase Program\n\nPR Newswire\n\nMAUMEE, Ohio, Aug. 6, 2026\n\nSecond-Quarter Highlights:\n\n * Sales of $2.0 billion, up 4 percent versus the second quarter of 2025\n * Adjusted EBITDA of $207 million; $60 million higher than second quarter of\n2025\n * 10.3 percent adjusted EBITDA margin; 270 basis points higher than prior year\n * Achieved $19 million in additional cost savings\n * Repurchased 1.2 million shares, returning $44 million to shareholders\n * Year-to-date shareholder returns of $169 million\n * Planning an additional ~$200 million of repurchases in 2026\n * Eaton Mobility transaction remains on track for first-quarter of 2027 close\nMAUMEE, Ohio, Aug. 6, 2026 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today\nannounced its second-quarter 2026 financial results, delivering strong\nperformance, expanding margins, and increasing its full-year outlook.\n\n\"Dana continues to execute our strategy with discipline and consistency,\ndelivering another quarter of strong margin expansion while advancing our\nlong-term growth initiatives,\" said Byron Foster, Chief Executive Officer.\n\"Our performance reflects the benefits of pricing actions, operational\nimprovements, and continued cost-savings initiatives, while demand has\nimproved across our end markets. We have also announced that we are restarting\nour share repurchase program to continue until the closing of the Eaton\nMobility transaction and remain committed to returning meaningful capital to\nshareholders. Combined with the strategic value creation opportunities\nassociated with the planned Eaton Mobility transaction, we believe Dana is\nwell positioned to deliver sustainable growth and increased shareholder\nvalue.\"\n\nSales in the second quarter of 2026 totaled $2.01 billion, compared with $1.94\nbillion in the same period of 2025. The increase was primarily driven by\nhigher demand across end markets, pricing actions, and favorable currency\ntranslation.\n\nAdjusted EBITDA for the second quarter was $207 million, representing a 10.3\npercent margin, compared with $147 million, or 7.6 percent, for the same\nperiod in 2025. Cost-savings actions, operational efficiency improvements, and\npricing initiatives were the primary drivers of the improvement.\n\nNet income from continuing operations was $11 million in the second quarter of\n2026, compared with a loss of $12 million, in the second quarter of 2025.\nDiluted earnings per share from continuing operations were $0.06 in the second\nquarter of 2026 compared to a loss of $0.11 last year.  The second quarter of\n2026 benefited from significantly improved operating performance, reflecting\ncost-reduction initiatives, material cost savings, operational improvements,\nand lower net interest expense associated with debt repayment following the\nOff-Highway divestiture.\n\nAdjusted net income was $21 million in the second quarter of 2026, compared\nwith $4 million in the prior-year period, while diluted adjusted earnings per\nshare increased to $0.19 from $0.03\n\nOperating cash flow in the second quarter of 2026 was $109 million, compared\nwith $32 million in the same period of 2025. Adjusted free cash flow was $68\nmillion, compared with a use of $7 million in the second quarter of 2025.\nHigher profitability, lower one-time costs, lower taxes, and improved working\ncapital performance more than offset the loss of discontinued operations\nfollowing the Off-Highway divestiture.\n\nDana today announced the restart of its share repurchase program, which had\nbeen suspended following the announcement of the proposed Eaton Mobility\ntransaction. During the second quarter, the company repurchased approximately\n1.2 million shares, returning $44 million to shareholders. Year-to-date, Dana\nhas returned $169 million to shareholders and expects to repurchase an\nadditional $200 million of shares before the end of 2026. Dana and Eaton are\nevaluating the possibility of additional share repurchases following the\nclosing of the transaction.\n\nDana also has continued to make progress on its announced combination with\nEaton's Mobility business. The companies now expect to utilize a split-off\nstructure for the transaction, which is intended to be tax-free to\nshareholders and provides for an orderly distribution of shares. The\ntransaction remains on track to close during the first quarter of 2027,\nsubject to approval by Dana shareholders, receipt of regulatory approvals, and\ncustomary closing conditions.\n\n\"The planned combination with Eaton Mobility remains a highly strategic\nopportunity that accelerates our Dana 2030 objectives and creates a stronger,\nmore diversified global powertrain leader,\" Foster added. \"At the same time,\nwe remain focused on executing the initiatives within our control—improving\nour cost structure, enhancing manufacturing performance, generating strong\ncash flow, and returning capital to shareholders.\"\n\nDana has revised its full-year financial guidance upward, increasing its sales\noutlook by approximately $225 million and its adjusted EBITDA outlook by\napproximately $25 million. The higher guidance reflects stronger market\nconditions, favorable commercial-vehicle demand, ongoing cost-reduction\nactions, and favorable currency translation.\n\nRevised 2026 Financial Targets\n                                 Revised Guidance\n Sales                           $7.65 to $7.85 billion\n Adjusted EBITDA                 $800 to $850 million\n Implied adjusted EBITDA margin  ~10.6%\n Diluted Adjusted EPS            $1.75 to $2.25\n Adjusted free cash flow         $275 to $375 million\n\nDana to Host Conference Call at 9 a.m. Thursday, August 6\nDana will discuss its second quarter 2026 results in a conference call at 9\na.m. EDT on Thursday, August 6.  The conference call can be accessed by\ntelephone from both domestic and international locations using the information\nprovided below:\n\nConference ID: 9943139\nParticipant Toll-Free Dial-In Number: (888) 440-5873\nParticipant Toll Dial-In Number: +1 (646) 960-0319\n\nAudio streaming and slides will be available online via a link provided on the\nDana investor website: www.dana.com/investors\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4747040-1&h=1992771923&u=http%3A%2F%2Fwww.dana.com%2Finvestors&a=www.dana.com%2Finvestors)\n.  Phone registration will be available beginning at 8:30 a.m. EDT.\nA webcast replay can be accessed via Dana's investor website following the\ncall.\n\nCautionary Notes on Forward-Looking Statements\nThis communication includes \"forward-looking statements\" within the meaning of\nthe federal securities laws, including Section 27A of the Securities Act of\n1933, as amended (the \"Securities Act\"), and Section 21E of the Securities\nExchange Act of 1934, as amended by the Private Securities Litigation Reform\nAct of 1995, including statements regarding the proposed transaction between\nEaton Corporation plc (\"Eaton\"), Dana Incorporated (\"Dana\") and Mobility (USA)\nCorporation (\"SpinCo\"), as well as statements regarding Dana's business,\nfinancial condition and results of operations more generally. These\nforward-looking statements generally are identified by the words \"believe,\"\n\"project,\" \"expect,\" \"anticipate,\" \"estimate,\" \"forecast,\" \"outlook,\"\n\"target,\" \"endeavor,\" \"seek,\" \"predict,\" \"intend,\" \"strategy,\" \"plan,\" \"may,\"\n\"could,\" \"should,\" \"will,\" \"would,\" \"potential,\" \"continue,\" \"ongoing,\" or the\nnegative thereof or variations thereon or similar terminology generally\nintended to identify forward-looking statements. All statements, other than\nhistorical facts, including, but not limited to, statements regarding Dana's\ncurrent expectations, estimates and projections about its industry and\nbusiness, the expected timing and structure of the proposed transaction and\nfinancing of the transaction, the ability of the parties to complete the\nproposed transaction, the expected benefits of the proposed transaction,\nincluding future financial and operating results and strategic and synergistic\nbenefits, the tax consequences of the proposed transaction and the combined\ncompany's plans, objectives, expectations and intentions, legal, economic and\nregulatory conditions, and any assumptions underlying any of the foregoing,\nare forward-looking statements.\n\nThese forward-looking statements are based on Dana's current expectations and\nare subject to risks and uncertainties and are not guarantees of future\nresults. Should one or more of these risks or uncertainties materialize, or\nshould underlying assumptions prove incorrect, actual results may vary\nmaterially from those indicated or anticipated by such forward-looking\nstatements. The inclusion of such statements should not be regarded as a\nrepresentation that such plans, estimates or expectations will be achieved.\nImportant factors that could cause actual results to differ materially from\nsuch plans, estimates or expectations include, among others, the ability to\ncomplete the proposed transaction on the timeframe or on the terms currently\nanticipated or at all, including due to a failure to obtain requisite\nstockholder and/or regulatory approvals; risks related to difficulties,\ninabilities or delays in integrating the businesses of Dana and SpinCo; the\nability to realize the anticipated benefits of the proposed transaction,\nincluding estimated combined EBITDA, estimated combined revenue and estimated\nrun-rate cost synergies; potential impact of the proposed transaction on\nDana's stock price; restrictions on the conduct of Dana's business prior to\nand after closing and on its ability to pursue alternatives to the proposed\ntransaction; the possibility that the proposed transaction may be more\nexpensive to complete than anticipated, including as a result of unexpected\nfactors or events, or unforeseen or unknown liabilities; the ability of the\ncombined company to implement its business strategy; the inability of the\ncombined company to retain and hire key personnel; the occurrence of any event\nthat could give rise to termination of the proposed transaction; the risk that\nstockholder litigation in connection with the proposed transaction or other\nlitigation, settlements or investigations may affect the timing or occurrence\nof the proposed transaction or result in significant costs of defense,\nindemnification and liability; risks relating to the ability to obtain\nfinancing for the transaction upon acceptable terms or at all; evolving legal,\nregulatory and tax regimes; changes in general economic and/or industry\nspecific conditions; global economic repercussions related to U.S. and global\ninflationary pressures and potential recessionary concerns; the risks that the\nanticipated tax treatment of the proposed transaction is not obtained; the\nrisk of greater than expected difficulty in separating the business of SpinCo\nfrom the other businesses of Eaton; risks related to the disruption of\nmanagement time from ongoing business operations due to the pendency of the\nproposed transaction, or other effects of the pendency of the proposed\ntransaction on the relationship of any of the parties to the transaction with\ntheir employees, customers, suppliers or other counterparties; and other risk\nfactors detailed from time to time in Dana's reports filed with the Securities\nand Exchange Commission (the \"SEC\"), including Dana's annual reports on Form\n10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other\ndocuments filed with the SEC, including documents that will be filed with the\nSEC in connection with the proposed transaction. The foregoing list of\nimportant factors is not exclusive.\n\nAny forward-looking statements speak only as of the date of this\ncommunication. Dana does not undertake, and expressly disclaims, any\nobligation to update any forward-looking statements, whether as a result of\nnew information or development, future events or otherwise, except as required\nby law. Readers are cautioned not to place undue reliance on any of these\nforward-looking statements.\n\nIt should also be noted that projected financial information for the combined\ncompany is based on management's estimates, assumptions and projections and\nhas not been prepared in conformance with the applicable accounting\nrequirements of Regulation S-X relating to pro forma financial information,\nand the required pro forma adjustments have not been applied and are not\nreflected therein. None of this information should be considered in isolation\nfrom, or as a substitute for, the historical financial statements of Dana or\nSpinCo.\n\nImportant Information About the Transaction and Where to Find It\n\nIn connection with the proposed transaction, SpinCo may file with the SEC an\ninformation statement on Form 10 (\"Form 10\") or a registration statement on\nForm S-1/S-4 (the \"Form S-1/S-4\") that constitutes a prospectus with respect\nto the shares of common stock, par value $0.01 per share, of SpinCo (the\n\"SpinCo shares\") to be issued to Eaton shareholders in the proposed exchange\noffer (the \"prospectus/offer to exchange\"). Eaton may also file with the SEC a\ntender offer statement (the \"Schedule TO\") with respect to the offer by Eaton\nto exchange all SpinCo shares for ordinary shares, par value $0.01 per share,\nof Eaton that are validly tendered and not properly withdrawn prior to the\nexpiration of the exchange offer (if any). In addition, SpinCo intends to file\nwith the SEC a registration statement on Form S-4 (the \"Form S-4\") that will\ninclude a proxy statement of Dana and that also constitutes a prospectus of\nSpinCo with respect to the SpinCo shares to be issued in the proposed merger\n(the \"proxy statement/prospectus\"). Each of Eaton, SpinCo and Dana may also\nfile other relevant documents with the SEC regarding the proposed transaction.\n\nThis document is not a substitute for the Form 10, Form S-1/S-4, Schedule TO,\nForm S-4, prospectus/offer to exchange, proxy statement/prospectus or any\nother document that Eaton, SpinCo or Dana may file with the SEC. INVESTORS AND\nSECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENTS, THE SCHEDULE\nTO; THE PROSPECTUS/OFFER TO EXCHANGE, THE PROXY STATEMENT/PROSPECTUS AND ANY\nOTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY\nAMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY\nIF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN\nIMPORTANT INFORMATION ABOUT EATON, DANA, SPINCO AND THE PROPOSED TRANSACTION.\nInvestors and security holders will be able to obtain free copies of the Form\n10, Form S-1/S-4, Schedule TO, Form S-4, the prospectus/offer to exchange and\nthe proxy statement/prospectus (if and when available) and other documents\ncontaining important information about Eaton, Dana and SpinCo and the proposed\ntransaction, once such documents are filed with the SEC through the website\nmaintained by the SEC at http://www.sec.gov (http://www.sec.gov) . Copies of\nthe documents filed with, or furnished to, the SEC by Eaton and SpinCo will be\navailable free of charge on Eaton's website at\nhttps://www.eaton.com/us/en-us/company/investor-relations.html\n(https://www.eaton.com/us/en-us/company/investor-relations.html) . Copies of\nthe documents filed with, or furnished to, the SEC by Dana will be available\nfree of charge on Dana's website at https://danaincorporated.gcs-web.com/\n(https://danaincorporated.gcs-web.com/) . The information included on, or\naccessible through, Eaton or Dana's website is not incorporated by reference\ninto this communication.\n\nParticipants in the Solicitation\n\nEaton, Dana, SpinCo and certain of their respective directors and executive\nofficers may be deemed to be participants in the solicitation of proxies in\nrespect of the proposed transaction. Information about the directors and\nexecutive officers of Eaton, including a description of their direct or\nindirect interests, by security holdings or otherwise, is set forth in Eaton's\nproxy statement for its 2026 Annual General Meeting of Shareholders, which was\nfiled with the SEC on March 13, 2026. Information about the directors and\nexecutive officers of Dana, including a description of their direct or\nindirect interests, by security holdings or otherwise, is set forth in Dana's\nproxy statement for its 2026 Annual Meeting of Stockholders, which was filed\nwith the SEC on March 13, 2026. Other information regarding the participants\nin the proxy solicitation and a description of their direct and indirect\ninterests, by security holdings or otherwise, will be contained in the Form\nS-4 and the proxy statement/prospectus and other relevant materials to be\nfiled with the SEC regarding the proposed transaction when such materials\nbecome available. Investors should read the Form 10, Form S-1/S-4, Schedule\nTO, Form S-4, the prospectus/offer to exchange and the proxy\nstatement/prospectus carefully if and when available before making any voting\nor investment decisions. You may obtain free copies of these documents from\nEaton or Dana using the sources indicated above.\n\nNo Offer or Solicitation\n\nThis communication is not intended to and shall not constitute an offer to\nsell or the solicitation of an offer to sell or the solicitation of an offer\nto buy or exchange any securities, or a solicitation of any vote or approval,\nnor shall there be any sale of securities in any jurisdiction in which such\noffer, solicitation, sale or exchange would be unlawful prior to registration\nor qualification under the securities laws of any such jurisdiction. No offer\nof securities shall be made except by means of a prospectus meeting the\nrequirements of Section 10 of the Securities Act or in a transaction exempt\nfrom the registration requirements of the Securities Act.\n\nNote Regarding Use of Non-GAAP Financial Measures\nIn addition to the financial measures presented in accordance with U.S.\ngenerally accepted accounting principles (\"U.S. GAAP\"), this communication\nincludes certain non-GAAP financial measures (collectively, the \"Non-GAAP\nMeasures\"), such as adjusted EBITDA, adjusted EBITDA margin, adjusted net\nincome (loss) attributable to the parent company, diluted adjusted EPS,\nadjusted free cash flow and adjusted free cash flow margin.\n\nAdjusted EBITDA is a non-GAAP financial measure which we have defined as net\nincome (loss) before interest, income taxes, depreciation, amortization,\nequity grant expense, restructuring expense, non-service cost components of\npension and other postretirement benefit costs and other adjustments not\nrelated to our core operations (gain/loss on debt extinguishment, pension\nsettlements, divestitures, impairment, etc.). Adjusted EBITDA is a measure of\nour ability to maintain and continue to invest in our operations and provide\nshareholder returns. We use adjusted EBITDA in assessing the effectiveness of\nour business strategies, evaluating and pricing potential acquisitions and as\na factor in making incentive compensation decisions. In addition to its use by\nmanagement, we also believe adjusted EBITDA is a measure widely used by\nsecurities analysts, investors and others to evaluate financial performance of\nour company relative to other Tier 1 automotive suppliers.\n\nAdjusted net income (loss) attributable to the parent company is a non-GAAP\nfinancial measure which we have defined as net income (loss) attributable to\nthe parent company, excluding any discrete income tax items, restructuring\ncharges, amortization expense and other adjustments not related to our core\noperations (as used in adjusted EBITDA), net of any associated income tax\neffects. This measure is considered useful for purposes of providing\ninvestors, analysts and other interested parties with an indicator of ongoing\nfinancial performance that provides enhanced comparability to net income\n(loss) attributable to the parent company reported by other companies.\nAdjusted net income (loss) attributable to the parent company is neither\nintended to represent nor be an alternative measure to net income (loss)\nattributable to the parent company reported in accordance with GAAP.\n\nDiluted adjusted EPS is a non-GAAP financial measure which we have defined as\nadjusted net income (loss) attributable to the parent company divided by\nadjusted diluted shares. We define adjusted diluted shares as diluted shares\nas determined in accordance with GAAP based on adjusted net income (loss)\nattributable to the parent company. This measure is considered useful for\npurposes of providing investors, analysts and other interested parties with an\nindicator of ongoing financial performance that provides enhanced\ncomparability to EPS reported by other companies. Diluted adjusted EPS is\nneither intended to represent nor be an alternative measure to diluted EPS\nreported in accordance with GAAP.\n\nAdjusted free cash flow is a non-GAAP financial measure which we have defined\nas net cash provided by (used in) operating activities less purchases of\nproperty, plant and equipment plus proceeds from sale of property, plant and\nequipment plus cash paid for Off-Highway business divestiture related\nactivities. We believe adjusted free cash flow is useful to investors in\nevaluating the operational cash flow of the company inclusive of the spending\nrequired to maintain the operations. Adjusted free cash flow is not intended\nto represent nor be an alternative to the measure of net cash provided by\n(used in) operating activities reported in accordance with GAAP.\n\nThese Non-GAAP Measures should not be used in isolation or as a substitute or\nalternative to results determined in accordance with U.S. GAAP. In addition,\nDana's and Eaton's definitions of these Non-GAAP Measures may not be\ncomparable to similarly titled non-GAAP financial measures reported by other\ncompanies. A reconciliation of these Non-GAAP Measures to the most directly\ncomparable financial measures calculated and reported in accordance with U.S.\nGAAP can be found in Dana's filings with the SEC and/or the accompanying\nfinancial information, except for financial guidance and other forward-looking\ninformation since such a reconciliation is not practicable without\nunreasonable effort as Dana is unable to reasonably forecast certain amounts\nthat are necessary for such reconciliation. We have not provided a\nreconciliation of our adjusted EBITDA outlook to the most comparable GAAP\nmeasures of net income (loss). Providing net income (loss) guidance is\npotentially misleading and not practical given the difficulty of projecting\nevent-driven transactional and other non-core operating items that are\nincluded in net income (loss), including restructuring actions, asset\nimpairments and certain income tax adjustments. The accompanying\nreconciliations of these non-GAAP measures with the most comparable GAAP\nmeasures for the historical periods presented are indicative of the\nreconciliations that will be prepared upon completion of the periods covered\nby the non-GAAP guidance.\n\nAbout Dana Incorporated\nDana Incorporated (NYSE: DAN) is a global leader in the design and manufacture\nof highly efficient propulsion solutions for the light- and\ncommercial‑vehicle markets. Guided by its vision to be the world's best\npowertrain company, Dana delivers advanced conventional and clean‑energy\ntechnologies that help customers improve the performance, efficiency, and\ndurability of their vehicles. The company supplies leading vehicle\nmanufacturers and related aftermarkets with industry‑defining drive systems,\nelectrodynamic technologies, and thermal and sealing solutions.\n\nHeadquartered in Maumee, Ohio, USA, Dana reported sales of $7.5 billion in\n2025. With a history dating to 1904, the company employs 27,000 people in 24\ncountries across six continents. Learn more at dana.com\n  DANA INCORPORATED\n  Consolidated Statement of Operations (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                                 Three Months Ended\n  (In millions, except per share amounts)                                                        June 30,\n                                                                                                 2026                                  2025\n  Net sales                                                                                      $      2,010                          $      1,935\n  Costs and expenses\n      Cost of sales                                                                              1,800                                 1,797\n      Selling, general and administrative expenses                                               104                                   99\n      Amortization of intangibles                                                                1                                     2\n      Restructuring charges, net                                                                 9                                     11\n  Other income (expense), net                                                                    (20)                                  (10)\n  Earnings from continuing operations before interest and income taxes                           76                                    16\n  Interest income                                                                                4                                     3\n  Interest expense                                                                               21                                    44\n  Earnings (loss) from continuing operations before income taxes                                 59                                    (25)\n  Income tax expense                                                                             54                                    10\n  Equity in earnings of affiliates                                                               6                                     23\n  Net income (loss) from continuing operations                                                   11                                    (12)\n  Net income (loss) from discontinued operations                                                 (11)                                  43\n  Net income                                                                                     -                                     31\n      Less: Noncontrolling interests net income from continuing                                  5                                     4\n operations\n  Net income (loss) attributable to the parent company                                           $            (5)                      $           27\n\n  Net income (loss) per share available to common stockholders\n     Basic earnings (loss) per share from continuing operations                                  $        0.06                         $       (0.11)\n     Basic earnings (loss) per share from discontinued operations                                (0.11)                                0.30\n     Basic earnings (loss) per share                                                             $       (0.05)                        $        0.19\n\n     Diluted earnings (loss) per share from continuing operations                                $        0.05                         $       (0.11)\n     Diluted earnings (loss) per share from discontinued operations                              (0.10)                                0.30\n     Diluted earnings (loss) per share                                                           $       (0.05)                        $        0.19\n\n  Weighted-average shares outstanding - Basic                                                    108.1                                 143.8\n  Weighted-average shares outstanding - Diluted                                                  109.5                                 143.8\n\n  DANA INCORPORATED\n  Consolidated Statement of Operations (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                                 Six Months Ended\n  (In millions, except per share amounts)                                                        June 30,\n                                                                                                 2026                                  2025\n  Net sales                                                                                      $      3,878                          $      3,716\n  Costs and expenses\n      Cost of sales                                                                              3,499                                 3,460\n      Selling, general and administrative expenses                                               206                                   204\n      Amortization of intangibles                                                                3                                     4\n      Restructuring charges, net                                                                 15                                    13\n  Other income (expense), net                                                                    (60)                                  (11)\n  Earnings from continuing operations before interest and income taxes                           95                                    24\n  Loss on extinguishment of debt                                                                 (7)                                   -\n  Interest income                                                                                10                                    5\n  Interest expense                                                                               43                                    83\n  Earnings (loss) from continuing operations before income taxes                                 55                                    (54)\n  Income tax expense                                                                             68                                    -\n  Equity in earnings of affiliates                                                               9                                     25\n  Net loss from continuing operations                                                            (4)                                   (29)\n  Net income from discontinued operations                                                        1,095                                 90\n  Net income                                                                                     1,091                                 61\n      Less: Noncontrolling interests net income from continuing                                  9                                     9\n operations\n  Net income attributable to the parent company                                                  $      1,082                          $           52\n\n  Net income (loss) per share available to common stockholders\n     Basic loss per share from continuing operations                                             $       (0.12)                        $       (0.26)\n     Basic earnings per share from discontinued operations                                       10.05                                 0.62\n     Basic earnings per share                                                                    $        9.93                         $        0.36\n\n     Diluted loss per share from continuing operations                                           $       (0.12)                        $       (0.26)\n     Diluted earnings per share from discontinued operations                                     10.05                                 0.62\n     Diluted earnings per share                                                                  $        9.93                         $        0.36\n\n  Weighted-average shares outstanding - Basic                                                    109.0                                 144.7\n  Weighted-average shares outstanding - Diluted                                                  109.0                                 144.7\n\n \n  DANA INCORPORATED\n  Consolidated Statement of Comprehensive Income (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                                                Three Months Ended\n  (In millions)                                                                                                 June 30,\n                                                                                                                2026                                  2025\n  Net income (loss) from continuing operations                                                                  $           11                        $          (12)\n  Other comprehensive income (loss) from continuing operations, net of tax:\n                        Currency translation adjustments                                                        21                                    35\n                        Hedging gains and losses                                                                (2)                                   23\n                                                  Other comprehensive income from continuing operations         19                                    58\n Total comprehensive income from continuing operations                                                          30                                    46\n Net income (loss) from discontinued operations                                                                 (11)                                  43\n Other comprehensive income (loss) from discontinued operations, net of tax:\n                        Currency translation adjustments                                                        -                                     6\n                        Hedging gains and losses                                                                -                                     1\n                                                  Other comprehensive income from discontinued operations       -                                     7\n Total comprehensive income (loss) from discontinued operations                                                 (11)                                  50\n Total comprehensive income                                                                                     19                                    96\n                        Less: Comprehensive income from continuing operations attributable to                   (5)                                   (6)\n                        noncontrolling interests\n Comprehensive income attributable to the parent company                                                        $           14                        $           90\n\n  DANA INCORPORATED\n  Consolidated Statement of Comprehensive Income (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                                                Six Months Ended\n  (In millions)                                                                                                 June 30,\n                                                                                                                2026                                  2025\n  Net loss from continuing operations                                                                           $            (4)                      $          (29)\n  Other comprehensive income (loss) from continuing operations, net of tax:\n                        Currency translation adjustments                                                        23                                    47\n                        Hedging gains and losses                                                                (6)                                   41\n                        Defined benefit plans                                                                   (1)                                   -\n                                                  Other comprehensive income from continuing operations         16                                    88\n Total comprehensive income from continuing operations                                                          12                                    59\n Net income from discontinued operations                                                                        1,095                                 90\n Other comprehensive income (loss) from discontinued operations, net of tax:\n                        Currency translation adjustments                                                        179                                   8\n                        Hedging gains and losses                                                                -                                     1\n                                                  Other comprehensive income from discontinued operations       179                                   9\n Total comprehensive income from discontinued operations                                                        1,274                                 99\n Total comprehensive income                                                                                     1,286                                 158\n                        Less: Comprehensive income from continuing operations attributable to                   (9)                                   (11)\n                        noncontrolling interests\n Comprehensive income attributable to the parent company                                                        $      1,277                          $         147\n\n \n  DANA INCORPORATED\n  Consolidated Balance Sheet (Unaudited)\n  As of June 30, 2026 and December 31, 2025\n\n  (In millions, except share and per share amounts)                                                                         June 30,                                   December 31,\n                                                                                                                            2026                                       2025\n  Assets\n  Current assets\n  Cash and cash equivalents                                                                                                 $                331                       $                469\n  Accounts receivable\n                             Trade, less allowance for doubtful accounts of $12 in 2026 and $15 in 2025                     1,287                                      987\n                             Other                                                                                          286                                        254\n  Inventories                                                                                                               980                                        1,015\n  Other current assets                                                                                                      285                                        114\n  Current assets of disposal group held for sale                                                                            36                                         1,029\n                                                                       Total current assets                                 3,205                                      3,868\n  Intangibles                                                                                                               58                                         71\n  Deferred tax assets                                                                                                       495                                        534\n  Other noncurrent assets                                                                                                   114                                        102\n  Investments in affiliates                                                                                                 112                                        102\n  Operating lease assets                                                                                                    166                                        305\n  Property, plant and equipment, net                                                                                        1,942                                      1,872\n  Noncurrent assets of disposal group held for sale                                                                         21                                         954\n                                                                       Total assets                                         $             6,113                        $             7,808\n\n  Liabilities and equity\n  Current liabilities\n  Short-term debt                                                                                                           $                   -                      $                615\n  Current portion of long-term debt                                                                                         27                                         30\n  Accounts payable                                                                                                          1,301                                      1,154\n  Accrued payroll and employee benefits                                                                                     170                                        210\n  Taxes on income                                                                                                           78                                         75\n  Current portion of operating lease liabilities                                                                            34                                         41\n  Other accrued liabilities                                                                                                 532                                        495\n  Current liabilities of disposal group held for sale                                                                       14                                         688\n                                                                       Total current liabilities                            2,156                                      3,308\n  Long-term debt, less debt issuance costs of $8 in 2026 and $16 in 2025                                                    1,317                                      2,566\n  Noncurrent operating lease liabilities                                                                                    125                                        266\n  Pension and postretirement obligations                                                                                    241                                        249\n  Other noncurrent liabilities                                                                                              291                                        337\n  Noncurrent liabilities of disposal group held for sale                                                                    -                                          183\n                                                                       Total liabilities                                    4,130                                      6,909\n  Commitments and contingencies\n  Parent company stockholders' equity\n                             Preferred stock, 50,000,000 shares authorized, $0.01 par value,\n                                                                       no shares outstanding                                -                                          -\n                             Common stock, 450,000,000 shares authorized, $0.01 par value,\n                                                                       107,576,158 and 112,284,138 shares outstanding       1                                          1\n                             Additional paid-in capital                                                                     1,518                                      1,671\n                             Retained earnings                                                                              1,290                                      235\n                             Treasury stock, at cost (2,508,917 and 1,944,700 shares)                                       (52)                                       (35)\n                             Accumulated other comprehensive loss                                                           (837)                                      (1,032)\n                                                                       Total parent company stockholders' equity            1,920                                      840\n  Noncontrolling interests                                                                                                  63                                         59\n                                                                       Total equity                                         1,983                                      899\n                                                                       Total liabilities and equity                         $             6,113                        $             7,808\n\n \n  DANA INCORPORATED\n  Consolidated Statement of Cash Flows (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                 Three Months Ended\n  (In millions)                                                                  June 30,\n                                                                                 2026                                2025\n  Operating activities\n  Net income                                                                     $            -                      $           31\n  Less: Net income (loss) from discontinued operations                           (11)                                43\n  Net income (loss) from continuing operations                                   11                                  (12)\n  Depreciation                                                                   82                                  89\n  Amortization                                                                   2                                   3\n  Amortization of deferred financings charges                                    10                                  2\n  Earnings of affiliates, net of dividends received                              (5)                                 (23)\n  Stock compensation expense                                                     8                                   10\n  Deferred income taxes                                                          19                                  (8)\n  Pension expense, net                                                           1                                   1\n  Change in working capital                                                      31                                  216\n  Change in other noncurrent assets and liabilities                              (34)                                (10)\n  Loss on divestiture of ownership interests                                     -                                   7\n  Noncash electric vehicle program termination charges                           7                                   -\n  Other, net                                                                     (8)                                 59\n  Net cash provided by operating activities from continuing operations           124                                 334\n  Net cash used in operating activities from discontinued operations             (15)                                (302)\n  Net cash provided by operating activities                                      109                                 32\n\n  Investing activities\n  Purchases of property, plant and equipment                                     (142)                               (37)\n  Proceeds from sale of property, plant and equipment                            1                                   -\n  Proceeds from sales of investments                                             1                                   57\n  Settlements of undesignated derivatives                                        (2)                                 (4)\n  Other, net                                                                     (1)                                 3\n  Net cash provided by (used in) investing activities from continuing            (143)                               19\n operations\n  Net cash used in investing activities from discontinued operations             (35)                                (14)\n  Net cash provided by (used in) investing activities                            (178)                               5\n\n  Financing activities\n  Net change in short-term debt                                                  (3)                                 401\n  Repayment of long-term debt                                                    (8)                                 (206)\n  Dividends paid to common stockholders                                          (13)                                (14)\n  Repurchases of common stock                                                    (44)                                (257)\n  Distributions to noncontrolling interests                                      (1)                                 (2)\n  Swap settlements                                                               -                                   (8)\n  Other, net                                                                     (7)                                 (8)\n  Net cash used in financing activities                                          (76)                                (94)\n\n  Net decrease in cash, cash equivalents and restricted cash                     (145)                               (57)\n  Cash, cash equivalents and restricted cash − beginning of period               492                                 523\n  Effect of exchange rate changes on cash balances                               2                                   35\n  Cash, cash equivalents and restricted cash − end of period                     $         349                       $         501\n\n  DANA INCORPORATED\n  Consolidated Statement of Cash Flows (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                 Six Months Ended\n  (In millions)                                                                  June 30,\n                                                                                 2026                                2025\n  Operating activities\n  Net income                                                                     $      1,091                        $           61\n  Less: Net income from discontinued operations                                  1,095                               90\n  Net loss from continuing operations                                            (4)                                 (29)\n  Depreciation                                                                   166                                 171\n  Amortization                                                                   5                                   6\n  Amortization of deferred financings charges                                    2                                   3\n  Earnings of affiliates, net of dividends received                              (8)                                 (25)\n  Stock compensation expense                                                     19                                  23\n  Deferred income taxes                                                          30                                  (26)\n  Pension expense, net                                                           (4)                                 -\n  Change in working capital                                                      (221)                               (202)\n  Change in other noncurrent assets and liabilities                              (23)                                (13)\n  Loss on divestiture of ownership interests                                     8                                   7\n  Noncash electric vehicle program termination charges                           59                                  -\n  Other, net                                                                     (39)                                54\n  Net cash used in operating activities from continuing operations               (10)                                (31)\n  Net cash provided by (used in) operating activities from discontinued          (76)                                26\n operations\n  Net cash used in operating activities                                          (86)                                (5)\n\n  Investing activities\n  Purchases of property, plant and equipment                                     (204)                               (104)\n  Proceeds from sale of property, plant and equipment                            2                                   11\n  Proceeds from sales of investments                                             1                                   57\n  Settlements of undesignated derivatives                                        (6)                                 (6)\n  Other, net                                                                     -                                   4\n  Net cash used in investing activities from continuing operations               (207)                               (38)\n  Net cash provided by (used) in investing activities from discontinued          2,528                               (22)\n operations\n  Net cash provided by (used in) investing activities                            2,321                               (60)\n\n  Financing activities\n  Net change in short-term debt                                                  (618)                               522\n  Repayment of long-term debt                                                    (1,338)                             (210)\n  Dividends paid to common stockholders                                          (26)                                (29)\n  Repurchases of common stock                                                    (169)                               (257)\n  Distributions to noncontrolling interests                                      (2)                                 (3)\n  Payment for mandatorily redeemable noncontrolling interest                     (190)                               -\n  Swap settlements                                                               -                                   (14)\n  Other, net                                                                     (25)                                (8)\n  Net cash provided by (used in) financing activities                            (2,368)                             1\n\n  Net decrease in cash, cash equivalents and restricted cash                     (133)                               (64)\n  Cash, cash equivalents and restricted cash − beginning of period               486                                 512\n  Effect of exchange rate changes on cash balances                               (4)                                 53\n  Cash, cash equivalents and restricted cash − end of period                     $         349                       $         501\n\n \n  DANA INCORPORATED\n  Reconciliation of Net Cash Provided by (Used In) Operating Activities to\n    Adjusted Free Cash Flow (Unaudited)\n\n                                                                                                       Three Months Ended\n  (In millions)                                                                                        June 30,\n                                                                                                       2026                                 2025\n  Net cash provided by operating activities                                                            $       109                          $         32\n  Purchases of property, plant and equipment - Continuing operations                                   (142)                                (37)\n  Purchases of property, plant and equipment - Discontinued operations                                 (1)                                  (14)\n  Proceeds from sale of property, plant and equipment - Continuing                                     1                                    -\n operations\n  Cash paid for purchase of leased facilities                                                          88                                   -\n  Cash paid for Off-Highway business divestiture related activities                                    13                                   12\n  Adjusted free cash flow                                                                              $         68                         $          (7)\n\n                                                                                                       Six Months Ended\n  (In millions)                                                                                        June 30,\n                                                                                                       2026                                 2025\n  Net cash used in operating activities                                                                $        (86)                        $          (5)\n  Purchases of property, plant and equipment - Continuing operations                                   (204)                                (104)\n  Purchases of property, plant and equipment - Discontinued operations                                 (1)                                  (22)\n  Proceeds from sale of property, plant and equipment - Continuing                                     2                                    11\n operations\n  Cash paid for purchase of leased facilities                                                          88                                   -\n  Cash paid for Off-Highway business divestiture related activities                                    74                                   12\n  Adjusted free cash flow                                                                              $     (127)                          $     (108)\n\n \n  DANA INCORPORATED\n  Segment Sales and Adjusted EBITDA (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                           Three Months Ended\n  (In millions)                                                            June 30,\n                                                                           2026                                2025\n  Sales\n Light Vehicle                                                             $        1,379                      $        1,335\n Commercial Vehicle                                                        631                                 600\n  Total Sales                                                              $        2,010                      $        1,935\n\n  Adjusted EBITDA\n Light Vehicle                                                             $           143                     $           112\n Commercial Vehicle                                                        68                                  47\n Corporate expense and other items, net                                    (4)                                 (12)\n  Adjusted EBITDA                                                          $           207                     $           147\n\n  DANA INCORPORATED\n  Segment Sales and Adjusted EBITDA (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                           Six Months Ended\n  (In millions)                                                            June 30,\n                                                                           2026                                2025\n  Sales\n Light Vehicle                                                             $        2,648                      $        2,548\n Commercial Vehicle                                                        1,230                               1,168\n  Total Sales                                                              $        3,878                      $        3,716\n\n  Adjusted EBITDA\n Light Vehicle                                                             $           255                     $           180\n Commercial Vehicle                                                        131                                 88\n Corporate expense and other items, net                                    (8)                                 (28)\n  Adjusted EBITDA                                                          $           378                     $           240\n\n \n  DANA INCORPORATED\n  Reconciliation of Earnings (Loss) From Continuing Operations Before\n    Income Taxes to Adjusted EBITDA (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n                                                                                               Three Months Ended\n  (In millions)                                                                                June 30,\n                                                                                               2026                                   2025\n  Earnings (loss) from continuing operations before income taxes                               $             59                       $            (25)\n  Adjustments related to continuing operations\n Interest income                                                                               (4)                                    (3)\n Interest expense                                                                              21                                     44\n Depreciation                                                                                  82                                     89\n Amortization                                                                                  2                                      3\n Non-service cost components of pension and OPEB costs                                         3                                      2\n Restructuring charges, net                                                                    9                                      11\n Stock compensation expense                                                                    8                                      10\n Strategic transaction expenses                                                                19                                     5\n Amounts attributable to previously closed/divested operations                                 1                                      -\n Distressed supplier costs                                                                     2                                      -\n Loss on divestiture of ownership interests                                                    -                                      7\n Electric vehicle program termination charges                                                  8                                      -\n Foreign exchange gain on unhedged intercompany loans                                          (2)                                    -\n Other items                                                                                   (1)                                    4\n  Adjusted EBITDA                                                                              $           207                        $           147\n\n  DANA INCORPORATED\n  Reconciliation of Earnings (Loss) From Continuing Operations Before\n    Income Taxes to Adjusted EBITDA (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n                                                                                               Six Months Ended\n  (In millions)                                                                                June 30,\n                                                                                               2026                                   2025\n  Earnings (loss) from continuing operations before income taxes                               $             55                       $            (54)\n  Adjustments related to continuing operations\n Loss on extinguishment of debt                                                                7                                      -\n Interest income                                                                               (10)                                   (5)\n Interest expense                                                                              43                                     83\n Depreciation                                                                                  166                                    171\n Amortization                                                                                  5                                      6\n Non-service cost components of pension and OPEB costs                                         4                                      4\n Restructuring charges, net                                                                    15                                     13\n Stock compensation expense                                                                    19                                     23\n Strategic transaction expenses                                                                20                                     6\n Gain on sale of property, plant and equipment                                                 -                                      (1)\n Supplier capacity charge adjustment                                                           -                                      (19)\n Amounts attributable to previously closed/divested operations                                 1                                      -\n Distressed supplier costs                                                                     2                                      -\n Loss on divestiture of ownership interests                                                    8                                      7\n Electric vehicle program termination charges                                                  64                                     -\n Foreign exchange gain on unhedged intercompany loans                                          (23)                                   -\n Other items                                                                                   2                                      6\n  Adjusted EBITDA                                                                              $           378                        $           240\n\n \n  DANA INCORPORATED\n  Reconciliation of Net Income (Loss) Attributable to the Parent Company to\n    Adjusted Net Income Attributable to the Parent Company and\n    Diluted Adjusted EPS (Unaudited)\n  For the Three Months Ended June 30, 2026 and 2025\n\n  (In millions, except per share amounts)\n                                                                                                                                             Three Months Ended\n                                                                                                                                             June 30,\n                                                                                                                                             2026                                      2025\n  Net income (loss) attributable to the parent company                                                                                       $              (5)                        $             27\n  Items impacting income before income taxes:\n                                     Amortization                                                                                            2                                         3\n                                     Restructuring charges, net                                                                              9                                         11\n                                     Strategic transaction expenses                                                                          19                                        5\n                                     Loss on divestiture of ownership interests                                                              -                                         7\n                                     Electric vehicle program termination charges                                                            8                                         -\n                                     Amounts attributable to previously closed/divested operation                                            1                                         -\n                                     Distressed supplier costs                                                                               2                                         -\n                                     Foreign exchange gain on unhedged intercompany loans                                                    (2)                                       -\n                                     Net (income) loss from discontinued operations                                                          11                                        (43)\n                                     Other items                                                                                             1                                         -\n  Items impacting income taxes:\n                                     Net income tax benefit on items above                                                                   (25)                                      (11)\n                                     Income tax expense attributable to various discrete tax matters                                         -                                         5\n  Adjusted net income attributable to the parent company                                                                                     $             21                          $               4\n\n  Diluted shares - as reported                                                                                                               109.5                                     143.8\n  Adjusted diluted shares                                                                                                                    109.5                                     145.6\n\n  Diluted adjusted EPS                                                                                                                       $          0.19                           $          0.03\n\n  DANA INCORPORATED\n  Reconciliation of Net Income Attributable to the Parent Company to\n    Adjusted Net Income (Loss) Attributable to the Parent Company and\n    Diluted Adjusted EPS (Unaudited)\n  For the Six Months Ended June 30, 2026 and 2025\n\n  (In millions, except per share amounts)\n                                                                                                                                             Six Months Ended\n                                                                                                                                             June 30,\n                                                                                                                                             2026                                      2025\n  Net income attributable to the parent company                                                                                              $        1,082                            $             52\n  Items impacting income before income taxes:\n                                     Amortization                                                                                            5                                         6\n                                     Restructuring charges, net                                                                              15                                        13\n                                     Strategic transaction expenses                                                                          20                                        6\n                                     Supplier capacity commitment charge adjustment                                                          -                                         (19)\n                                     Loss on divestiture of ownership interests                                                              8                                         7\n                                     Electric vehicle program termination charges                                                            64                                        -\n                                     Loss on extinguishment of debt                                                                          7                                         -\n                                     Amounts attributable to previously closed/divested operation                                            1                                         -\n                                     Distressed supplier costs                                                                               2                                         -\n                                     Foreign exchange gain on unhedged intercompany loans                                                    (23)                                      -\n                                     Net income from discontinued operations                                                                 (1,095)                                   (90)\n                                     Other items                                                                                             1                                         -\n  Items impacting income taxes:\n                                     Net income tax benefit on items above                                                                   (62)                                      (5)\n                                     Income tax expense (benefit) attributable to various discrete tax matters                               12                                        (5)\n  Adjusted net income (loss) attributable to the parent company                                                                              $             37                          $            (35)\n\n  Diluted shares - as reported                                                                                                               109.0                                     144.7\n  Adjusted diluted shares                                                                                                                    110.3                                     144.7\n\n  Diluted adjusted EPS                                                                                                                       $          0.34                           $         (0.24)\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/dana-incorporated-reports-strong-second-quarter-results-increases-full-year-guidance-restarts-share-repurchase-program-302844727.html\n(https://www.prnewswire.com/news-releases/dana-incorporated-reports-strong-second-quarter-results-increases-full-year-guidance-restarts-share-repurchase-program-302844727.html)\n\nSOURCE Dana Incorporated\n\n\n\nCraig Barber, +1-419-887-5166, craig.barber@dana.com\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS426966/DANA-INCORPORATED-LOGO-Logo.jpg?id=OA2829041\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-06T10:59:01.050272513Z","server_sent_at_ms":1786013941050},"received_at":"2026-08-06T10:59:01.360Z","source_url":"https://www.prnewswire.com/news-releases/dana-incorporated-reports-strong-second-quarter-results-increases-full-year-guidance-restarts-share-repurchase-program-302844727.html"},"analysis":{"id":"99946","press_release_id":"110939","analysis_json":{"industry":{"label":"Automobile Components","sector":"Consumer Discretionary"},"redFlags":["GAAP net income attributable to parent company was negative ($5 million) due to discontinued operations and noncontrolling interests despite strong continuing operations performance"],"eventType":"earnings","narrative":"Dana posted strong second-quarter results with sales rising 4% to $2.01 billion and adjusted EBITDA jumping 41% to $207 million, driven by a 270 basis point margin expansion.\n\nThe company raised its full-year 2026 guidance, increasing its sales outlook by $225 million and adjusted EBITDA by $25 million, citing favorable market demand and cost-reduction actions.\n\nManagement restarted its share repurchase program, buying back $44 million of stock in the quarter and planning an additional $200 million of repurchases before year-end.\n\nThe planned combination with Eaton's Mobility business remains on track for a first-quarter 2027 close.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Margin expansion drives guidance raise; buyback restart signals confidence ahead of Eaton deal."},"keyFigures":{"eps":0.06,"revenue":"$2.01 billion","guidance":"Sales $7.65 to $7.85 billion; Adjusted EBITDA $800 to $850 million; Diluted Adjusted EPS $1.75 to $2.25; Adjusted free cash flow $275 to $375 million","revenueYoy":"4%","customDimensions":{"adjusted_ebitda":207000000,"operating_cash_flow":109000000,"adjusted_ebitda_margin":"10.3%","adjusted_free_cash_flow":68000000}},"quotedText":"Dana continues to execute our strategy with discipline and consistency, delivering another quarter of strong margin expansion while advancing our long-term growth initiatives,","namedEntities":{"people":[{"name":"Byron Foster","role":"Chief Executive Officer"}],"products":[],"companies":[{"name":"Dana Incorporated","ticker":"DAN"},{"name":"Eaton Corporation plc","relationship":"transaction partner"}],"dollarAmounts":[{"amount":"$2.01 billion","context":"Q2 2026 sales"},{"amount":"$207 million","context":"Q2 2026 Adjusted EBITDA"},{"amount":"$44 million","context":"Q2 share repurchases"},{"amount":"$169 million","context":"Year-to-date shareholder returns"},{"amount":"$200 million","context":"Planned additional 2026 repurchases"},{"amount":"$7.65 to $7.85 billion","context":"Revised full-year sales guidance"}]},"materialImpact":{"score":4,"reasoning":"Strong operational performance with 270 basis points of adjusted EBITDA margin expansion, a return to profitability on continuing operations, and a significant increase in full-year guidance. The restart of the share repurchase program further underscores management confidence."},"tickerRelevance":{"others":[],"primary":"DAN"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["guidance_update","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-and-raise","sectorWeight":"industrials"}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Dana posted strong second-quarter results with sales rising 4% to $2.01 billion and adjusted EBITDA jumping 41% to $207 million, driven by a 270 basis point margin expansion.\n\nThe company raised its full-year 2026 guidance, increasing its sales outlook by $225 million and adjusted EBITDA by $25 million, citing favorable market demand and cost-reduction actions.\n\nManagement restarted its share repurchase program, buying back $44 million of stock in the quarter and planning an additional $200 million of repurchases before year-end.\n\nThe planned combination with Eaton's Mobility business remains on track for a first-quarter 2027 close.","key_figures":{"eps":0.06,"revenue":"$2.01 billion","guidance":"Sales $7.65 to $7.85 billion; Adjusted EBITDA $800 to $850 million; Diluted Adjusted EPS $1.75 to $2.25; Adjusted free cash flow $275 to $375 million","revenueYoy":"4%","customDimensions":{"adjusted_ebitda":207000000,"operating_cash_flow":109000000,"adjusted_ebitda_margin":"10.3%","adjusted_free_cash_flow":68000000}},"named_entities":{"people":[{"name":"Byron Foster","role":"Chief Executive Officer"}],"products":[],"companies":[{"name":"Dana Incorporated","ticker":"DAN"},{"name":"Eaton Corporation plc","relationship":"transaction partner"}],"dollarAmounts":[{"amount":"$2.01 billion","context":"Q2 2026 sales"},{"amount":"$207 million","context":"Q2 2026 Adjusted EBITDA"},{"amount":"$44 million","context":"Q2 share repurchases"},{"amount":"$169 million","context":"Year-to-date shareholder returns"},{"amount":"$200 million","context":"Planned additional 2026 repurchases"},{"amount":"$7.65 to $7.85 billion","context":"Revised full-year sales guidance"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-06T14:35:18.077Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-and-raise","sectorWeight":"industrials"}},"durationMs":667760,"modelName":"glm-4.7"}}