Dana Q2 Result Beats Consensus; Backs FY21 Outlook - Dana (NYSE:DAN)

Dana Inc DAN reported second-quarter FY21 sales growth of 104% year-on-year, to $2.21 billion, beating the analyst consensus of $2.11 billion.
Sales from Light Vehicle shot up 164% Y/Y to $890 million, Commercial Vehicle rose 90.6% to $387 million, Off-Highway increased 68.1% to $669 million, and Power Technologies rose 85% to $259 million.
Selling, general and administrative expenses rose 53.6% Y/Y to $126 million.
The company held $384 million in cash and equivalents as of June 30, 2021. Operating cash flow for the period totaled $67 million, compared to a use of $75 million last year.
Adjusted EBITDA of $233 million compared to negative $(5) million in Q2 FY20.
Adjusted EPS of $0.59 beat the analyst consensus of $0.53.
"Dana delivered a strong performance in the second quarter as a result of ongoing strong demand across all three of our end markets," said CEO James Kamsickas.
Outlook: Dana reiterated its FY21 sales outlook of $8.5 billion - $9 billion versus the consensus at $8.8 billion.
The company's adjusted EPS outlook is unchanged at $2.10 - $2.60, versus the consensus of $2.47.
Price action: DAN shares are trading higher by 1.47% at $24.15 on the last check Friday.