Dana — Apr 30, 2025 release

“Our efforts to transform the company into a stronger, more focused business are gaining momentum. The sale of our Off-Highway business is underway with a competitive process. We also continue to execute our cost-savings initiative and have taken further steps to accelerate the realization of our $300 million plan,” said R. Bruce McDonald, chairman and chief executive officer. “While the situation remains fluid, we believe the impact of tariffs are manageable based on completed mitigation actions and expected substantial recoveries from customers.” Sales for the first quarter of 2025 totaled $2.35 billion, compared with $2.74 billion in the same period of 2024. Net income attributable to Dana was $25 million, or $0.17 per share, compared with $3 million, or $0.02 per share, in the first quarter of 2024. As a percentage of sales, the first quarter of 2025 was 1 percent compared to 0.1 percent last year. During the first quarter of 2024, Dana entered into a definitive agreement to sell its non-core European Off-Highway hydraulics business. This business was classified as held for sale, and a $29 million loss was recognized to adjust the carrying value of net assets to fair value less estimated costs to sell. This sale agreement was terminated and the transaction did not close. Adjusted net income attributable to Dana was $19 million, or $0.13 per share, for the first quarter of 2025, compared with adjusted net income of $37 million, or $0.26 per share, in 2024. Adjusted EBITDA for t