Dana Q3 EBITDA $218M, Sales Outlook Raised; Eaton Deal on Track for Q1 2027
DAN sits 34% above its 52-week low of $18.955 on elevated volume (2.3× avg).
Summary
Dana posted Q3 adjusted EBITDA of $218 million on $2.038 billion of sales, raised its 2026 sales outlook to about $7.8 billion, and said the Eaton Mobility split-off remains on track to close around the end of Q1 2027.
Key Events · Earnings and Guidance · DAN
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Q3 Sales and EBITDA Improve
Sales rose $121 million to $2.038 billion, and adjusted EBITDA rose $56 million to $218 million, a 10.7% margin, up 220 basis points year over year.
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Sales Outlook Raised, EBITDA Held
Full-year 2026 sales guidance rises $50 million to about $7.8 billion at the midpoint; adjusted EBITDA midpoint stays at about $825 million (10.6% margin) and adjusted EPS at about $2.00.
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EPS Misses Consensus
Diluted adjusted EPS of $0.41 compared with a $0.04 loss a year ago but fell well short of the $0.69 consensus, and the stock dropped about 5%.
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Buyback Target Raised to $469M
Dana repurchased 6.6 million shares for $200 million in Q3, bringing 2026 buybacks to $369 million with $100 million left; $1.2 billion of the $2 billion authorization is complete.
Analysis · DAN · Manufacturing
The core business is improving: sales rose $121 million to $2.038 billion and adjusted EBITDA climbed $56 million to $218 million, a 10.7% margin. Management nudged full-year sales up to about $7.8 billion while holding the $825 million EBITDA midpoint. The bigger swing factor remains the Eaton Mobility split-off. One regulatory approval is still outstanding, a special shareholder meeting is set for December 7, and closing is targeted around the end of Q1 2027 with $250 million of run-rate synergies. Note the market reaction was negative: adjusted EPS of $0.41 fell well short of the $0.69 consensus even as EBITDA rose, so the headline profit measure and the per-share result tell different stories.
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At the time of this filing, DAN was trading at $25.48 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $18.96 to $39.56. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.