MAUMEE, Ohio - Dana Incorporated (NYSE: DAN), a global provider of propulsion and energy-management solutions, announced the appointment of Brian Pour as Senior Vice President and President of Dana Commercial Vehicle Drive and Motion Systems. Pour will assume his new role on July 22, succeeding Aziz Aghili, who has retired.
With over three decades of experience in the mobility industry, Brian Pour has held various leadership positions. He was most recently the President and CEO of Auria Solutions Ltd., and prior to that, the global Chief Operating Officer of International Automotive Components (IAC). Pour's career also includes significant international experience, particularly in China and Japan.
James Kamsickas, Dana's Chairman and CEO, expressed confidence in Pour's ability to lead the Commercial Vehicle Business Unit, citing his "proven global experience," "deep technical and operational background," and "acute understanding of the broader mobility market."
Dana Incorporated, headquartered in Maumee, Ohio, reported $10.6 billion in sales in 2023 and employs 42,000 people worldwide. The company has been recognized for its ethical practices and responsible growth, being named among the "World's Most Ethical Companies" for two consecutive years and as one of "America's Most Responsible Companies 2023."
This leadership transition is part of Dana's ongoing efforts to manage its global operations and continue providing innovative solutions to the mobility market. The information is based on a press release statement from Dana Incorporated.
In other recent news, Dana Incorporated reported a significant rise in its first-quarter sales for 2024, reaching $2.7 billion, a $91 million increase compared to the same period last year. This growth was attributed to heightened customer demand, a burgeoning business backlog, and gains in market share.
The company's adjusted EBITDA also saw an increase to $223 million, despite a challenging business environment. Furthermore, Dana has improved its free cash flow outlook for the full year, now expecting $75 million, a 50% improvement over their previous forecast.
However, the net income attributable to Dana decreased to $3 million, down from $28 million the previous year due to divestiture. Yet, Dana's power technologies segment, particularly the EV business and BEV3 program, is performing strongly.
In other recent developments, Dana Incorporated announced the promotion of Lisa Amend to Senior Vice President and Chief Human Resources Officer. Amend, with over two decades of experience in human resources and labor law, will helm the company's HR strategy, overseeing talent management, diversity initiatives, and employee engagement.
InvestingPro Insights
As Dana Incorporated (NYSE: DAN) welcomes Brian Pour into a key leadership position, the company's financial health and market outlook remain pivotal for investors. With a market capitalization of $1.75 billion and a notable revenue of $10.65 billion over the last twelve months as of Q1 2024, Dana's scale in the mobility industry is evident.
InvestingPro Tips suggest that while Dana's net income is expected to grow this year, analysts have tempered their earnings expectations for the upcoming period, with three analysts revising their earnings downwards. Additionally, Dana's stock price has demonstrated significant volatility, which is a crucial factor for investors to consider.
The company's current P/E ratio stands at 134.11, which is high when compared to its near-term earnings growth, indicating that the stock may be trading at a premium. However, it's worth noting that Dana has maintained dividend payments for 13 consecutive years, offering a dividend yield of 3.31% as of the last data, which could be appealing for income-focused investors.
Despite challenges such as weak gross profit margins, as highlighted by an 8.59% margin over the last twelve months, Dana's liquid assets exceed its short-term obligations, suggesting financial stability in meeting immediate liabilities.
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