Dana Q4 Results Miss Estimates; Guides FY24 EPS Well Below Estimates
(RTTNews) - Dana, Inc. (DAN) reported Tuesday a net loss attributable to the parent company for the fourth quarter of $39 million or $0.27 per share, sharply narrower than $179 million or $1.25 per share in the prior-year quarter.
Excluding items, adjusted net loss for the quarter were $0.08 per share, compared to adjusted net loss of $0.10 per share in the year-ago quarter.
On average, nine analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter decreased to $2.49 billion from $2.56 billion in the same quarter last year. Analysts expected revenues of $2.59 billion for the quarter.
Looking ahead to fiscal 2024, the company now projects earnings in a range of $0.35 to $0.85 per share on sales between $10.65 billion and $11.15 billion. The Street is looking for earnings of $1.26 per share on revenues of $10.98 billion for the year.
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