Dana Holdings (DAN) Tops Q2 EPS by 17c, Beats on Revenues; Raises FY17 Guidance

Dana Holdings (NYSE: DAN) reported Q2 EPS of $0.68, $0.17 better than the analyst estimate of $0.51. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.68 billion.

Updated 2017 Full-Year Financial Targets(1) Dana has raised key financial guidance across all business units.

• Sales of $6.8 to $7.0 billion;
• Adjusted EBITDA of $790 to $820 million;
• Adjusted EBITDA as a percent of sales of 11.6 to 11.8 percent;
• Diluted adjusted EPS of $2.20 to $2.40;
• Cash flow from operations of $480 to $520 million;
• Capital spending of $380 to $420 million; and
• Free cash flow of $80 to $120 million.

GUIDANCE:

Dana Holdings sees FY2017 EPS of $2.20-$2.40, versus the consensus of $1.98. Dana Holdings sees FY2017 revenue of $6.8-7 billion, versus the consensus of $6.51 billion.

• Sales of $1.8 billion; 11 percent organic growth
• Net income attributable to Dana of $71 million and diluted EPS of $0.47
• Adjusted EBITDA of $217 million, providing a margin of 11.8 percent
• Diluted adjusted EPS of $0.68; 28 percent growth
• Operating cash flow of $169 million; free cash flow of $96 million
• Full-year guidance raised:
  • Sales guidance increased by 8 percent
  • Adjusted EBITDA guidance increased by 11 percent
  • Margin guidance increased by 30 basis points
  • Diluted adjusted EPS guidance increased by 31 percent
  • Free cash flow guidance increased by 67 percent

For earnings history and earnings-related data on Dana Holdings (DAN) click here.

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