Dana Inc., (DAN), Friday announced preliminary results for the fiscal year 2024, reporting sales of around $10.3 billion in line with prior guidance, compared to last year's $10.6 billion.
The company attributed the decline in sales to weaker market demand for electric vehicles, commercial trucks, off-highway equipment, and higher inventory of certain light truck programs.
For the full year 2025, Dana projects lower sales due to weaker demand for off-highway equipment and translation of foreign currency.
However, cost-saving actions such as the sale of its Off-Highway business and efficiency improvements are estimated to drive higher margins.
In the pre-market hours, Dana's stock is climbing 9.07 percent, to $14.43 on the New York Stock Exchange.
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