Edition:
United Kingdom

Dana Inc Sees FY 2018 Sales $7.5 Billion To $7.7 Billion


Wednesday, 17 Jan 2018 

Jan 17 (Reuters) - Dana Inc ::ORPORATED ANNOUNCES STRONG PRELIMINARY 2017 FINANCIAL RESULTS AND GUIDANCE FOR 2018, INCREASED OUTLOOK FOR 2019, $800 MILLION OF SALES BACKLOG, AND INCREASE TO QUARTERLY DIVIDEND.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $2.60 TO $2.90.SEES FY 2018 SALES $7.5 BILLION TO $7.7 BILLION.SETS QUARTERLY DIVIDEND OF $0.10PER SHARE.- SEES PRELIMINARY 2017 SALES OF $7.2 BILLION.- SEES PRELIMINARY 2017 ADJUSTED EBITDA OF $835 MILLION.SAYS 2017 PRELIMINARY SALES OF $7.2 BILLION, AN INCREASE OF $1.4 BILLION OR GROWTH OF 24 PERCENT.- 2018-2020 SALES BACKLOG AS OF DEC. 31, 2017, HAS IMPROVED TO $800 MILLION, A 7 PERCENT INCREASE OVER PRIOR THREE-YEAR BACKLOG.- AUTHORIZED REPURCHASE OF UP TO $100 MILLION OF COMMON SHARES OVER NEXT TWO YEARS.- SEES 2018 CAPITAL SPENDING OF APPROXIMATELY 4.0 PERCENT OF SALES.- STRONG END-MARKET DEMAND AND NEW-BUSINESS BACKLOG ARE DRIVING AN EXPECTED 6 PERCENT SALES GROWTH IN 2018.DANA - STRONG DEMAND FOR LIGHT-TRUCK PROGRAMS IS EXPECTED INTO 2018, AS IS HIGHER END-MARKET DEMAND FOR OFF-HIGHWAY EQUIPMENT AND COMMERCIAL VEHICLES.- FOR FY19 ‍CO'S SALES, ADJUSTED EBITDA, DILUTED ADJUSTED EPS EXPECTED TO INCREASE BY $700 MILLION, $90 MILLION, AND $0.40, RESPECTIVELY VERSUS PRIOR TARGET RANGES​. 

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