Dana Clocks 6% Sales Growth In Q2, Beats Street Expectation
Portfolio Pulse from Akanksha Bakshi
Dana Inc (NYSE:DAN) reported Q2 FY23 sales growth of 6.3% YoY to $2.748 billion, slightly above the consensus of $2.74 billion. The increase was driven by higher market demand, cost-recovery actions, and conversion of sales backlog. Adjusted EPS was $0.37, beating the consensus of $0.17. The company raised its FY23 outlook and declared a dividend of $0.10 per share. Dana's shares are trading higher by 0.64% at $18.93.
July 28, 2023 | 4:42 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Dana Inc reported better than expected Q2 results and raised its FY23 outlook, which led to a 0.64% increase in its stock price.
Dana Inc's better than expected Q2 results and raised FY23 outlook are positive signals for investors, leading to increased confidence in the company's performance and a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100