Dana reports Q2 revenue $1.94B, consensus $2.55B

Reports Q2 adjusted EBITDA $145M. “In June, we announced a definitive agreement to sell our Off-Highway business, a key step in our strategy to become a more focused supplier to the light- and commercial-vehicle markets,” said R. Bruce McDonald, chairman and chief executive officer. “This transaction significantly strengthens our balance sheet and enabled us to begin a $1 billion capital return program, including the repurchase of over $250 million in shares during the second quarter. We expect to return an additional $100 to $150 million to shareholders in the third quarter and approximately $600 million by the end of the year. Meanwhile, our expanded $310 million cost-savings initiative is progressing well, with nearly $60 million realized in the second quarter and $110 million to date-underpinning our commitment to deliver 10% adjusted EBITDA margin in 2026.”