(Adds Outlook)
For the full year, Dana Incorporated (DAN) has reduced its sales outlook to $10.45 billion-$10.95 billion from the previous guidance of $10.65 billion - $11.15 billion, to reflect weak demand for electric vehicles.
The company continues to expect earnings per share in the range of $0.35 to $0.85.
The company also provided adjusted EPS outlook of $0.80 to $1.30 for the year.
Analysts expect the company to report earnings of $1 per share on revenue of $10.83 billion.
Q2 Results:
Dana reported a profit for second quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $16 million, or $0.11 per share. This compares with $30 million, or $0.21 per share, in last year's second quarter.
Excluding items, Dana Incorporated reported adjusted earnings of $45 million or $0.31 per share for the period.
Analysts on average had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.4% to $2.738 billion from $2.748 billion last year.
Dana Incorporated earnings at a glance (GAAP) :
-Earnings (Q2): $16 Mln. vs. $30 Mln. last year.
-EPS (Q2): $0.11 vs. $0.21 last year.
-Revenue (Q2): $2.738 Bln vs. $2.748 Bln last year.
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