Dana Incorporated (DAN) Earnings Call Transcripts
Dana Incorporated's Latest Earnings Call - June 11, 2026
Dana Incorporated's Q2 2026 earnings call primarily focused on the announcement of a business combination with Eaton's mobility business. The transaction, structured as a Reverse Morris Trust, is valued at $5.1 billion, with Dana and Eaton shareholders owning just under and over 50% of the combined entity, respectively. The combined enterprise value is approximately $10 billion. Dana reported an estimated $11 billion in combined sales for 2026, with a pro forma adjusted EBITDA of $1.7 billion, achieving 15% margins. The company raised its 2030 revenue target from $10 billion to $14-15 billion, citing the transaction's acceleration of growth targets. Management also committed to $250 million in cost synergies within 24 months of closing.
Reported metrics
| Metric | Value |
|---|---|
| Combined Sales | $11 billion (inline) |
| Pro Forma Adjusted EBITDA | $1.7 billion (inline) |
| Cost Synergies | $250 million (positive) |
| 2030 Revenue Target | $14-15 billion (positive) |
| Aftermarket Sales | $1.7 billion (positive) |
Guidance from management
Dana raised its 2030 revenue target to $14-15 billion, up from $10 billion, citing the transaction's acceleration of growth targets. The company also committed to achieving $250 million in cost synergies within 24 months of closing.
What management said
And I think our previous $2 billion obviously didn't use up all of our free cash flow. So we had cushion there. And clearly, this gives us a lot more cushion than we had before. So I would say there's upward bias on our buyback as opposed to risk.
And if anything, I would say, it brings the opportunity to accelerate our aspirations in the aftermarket space because things like boots on the ground, in the regions, supporting customers, I mean we're looking to leverage that network that is much better in place, let's say, with the Eaton team than building organically. So we're really looking to leverage to both the capabilities and capacity that Eaton brings to b...
What analysts pressed on
Analysts expressed concerns about the integration of Eaton's business, particularly regarding the $250 million synergy target, questioning the feasibility given the size of Eaton's current operations. Analysts also inquired about the impact on Dana's existing growth strategy and the potential need for increased investment in Eaton's business.
Main topics on the call
- Business Combination with Eaton — Dana announced a business combination with Eaton's mobility business, structured as a Reverse Morris Trust, making it tax-free for both Eaton and Dana shareholders. The transaction is valued at $5.1 billion, with the com...
- Financial Impact and Synergies — The transaction is expected to be accretive to both EBITDA and free cash flow margins, with $250 million in cost synergies projected within 24 months. "We are 100% committed and don't believe we have any issue in being a...
- 2030 Growth Strategy — Dana revised its 2030 revenue target from $10 billion to $14-15 billion, driven by the combination with Eaton's business. The company maintains its commitment to its existing growth pillars, including traditional busines...
- Balance Sheet and Credit Ratings — Dana expects its balance sheet to remain strong post-transaction, with a net leverage of 1.2x. The company anticipates maintaining its current credit ratings. "We continue to have an exceedingly strong balance sheet," no...
Read the full Dana Incorporated transcript (June 11, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Dana Incorporated
Dana Incorporated (DAN) is a publicly listed company in the Automobile Components industry, within the Consumer Discretionary sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 59 calls on record spanning February 13, 2020 to June 11, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 59 Dana Incorporated earnings call transcripts on record, spanning February 13, 2020 to June 11, 2026. Based on this history, Dana Incorporated reports quarterly. The most recent call on file is dated June 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- DAN
- Exchange
- NYSE
- Country
- US
- Sector
- Consumer Discretionary
- Industry
- Automobile Components
- Calls on record
- 59
- First call
- February 13, 2020
- Most recent
- June 11, 2026
- Reporting cadence
- quarterly