MAUMEE, Ohio - Dana Incorporated (NYSE: DAN), a global leader in propulsion and energy-management solutions, today announced the promotion of Lisa Amend to Senior Vice President and Chief Human Resources Officer. Amend, who has 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.
Amend's career with Dana spans over 12 years, with a focus on labor and employment law. She initially joined the company's Law Department in 1998, serving until 2006, and returned in 2020. Prior to her latest appointment, Amend held the position of Vice President, Assistant General Counsel, and Assistant Secretary since 2023.
James Kamsickas, Chairman and CEO of Dana, expressed confidence in Amend's leadership, citing the company's people-first culture and 120-year legacy. Amend herself is eager to continue the transformational work that has positioned Dana as a respected organization within the industry.
With a Bachelor of Arts in English Literature, a Juris Doctor degree, and an MBA, Amend's educational background complements her extensive professional experience. Before rejoining Dana, she was managing counsel for Marathon Petroleum Corporation (NYSE:MPC) and practiced law at Taft, Stettinius & Hollister LLP.
Dana's commitment to ethical business practices and responsibility has been recognized by Ethisphere and Newsweek, with the company being named among the "World's Most Ethical Companies" for 2023 and 2024 and one of "America's Most Responsible Companies 2023."
The company, headquartered in Maumee, Ohio, reported sales of $10.6 billion in 2023 and employs 42,000 people worldwide. Dana's reputation for innovation and sustainability in vehicle manufacturing continues to grow as it provides advanced solutions for a diverse range of mobility markets.
This leadership change is based on a press release statement from Dana Incorporated.
In other recent news, Dana Incorporated reported a significant increase in its first-quarter sales for 2024, reaching $2.7 billion, a rise of $91 million compared to the same period last year. The company's adjusted EBITDA also saw an increase to $223 million, despite a challenging business environment. Dana has also improved its free cash flow outlook for the full year, now expecting $75 million, a 50% improvement over their previous forecast.
The company's 2024 sales are projected to be approximately $10.9 billion, with an anticipated adjusted EBITDA of about $925 million. However, the net income attributable to Dana decreased to $3 million, down from $28 million the previous year due to divestiture. Despite this, Dana's power technologies segment, particularly the EV business and BEV3 program, is performing strongly.
InvestingPro Insights
Dana Incorporated (NYSE: DAN), renowned for its innovative approach to propulsion and energy-management solutions, has recently made a significant leadership change with the promotion of Lisa Amend. As the company forges ahead, it's important to look at the financial metrics and market expectations that may influence its strategic direction. According to InvestingPro data, Dana Incorporated has a market capitalization of $1.82 billion, reflecting its substantial presence in the industry. Despite a challenging market environment, the company has reported a steady revenue growth of 3.16% over the last twelve months as of Q1 2024, demonstrating its resilience and ability to adapt.
An InvestingPro Tip highlights that analysts are optimistic about Dana's potential, with net income expected to grow this year. This is further supported by the fact that four analysts have revised their earnings upwards for the upcoming period, suggesting confidence in the company's future performance. Additionally, Dana has maintained dividend payments for 13 consecutive years, with a dividend yield of 3.18% as of the latest data, which may appeal to investors seeking steady income streams.
However, it's important to note that Dana is trading at a high P/E ratio of 139.4, which may raise concerns about the stock's valuation relative to near-term earnings growth. Investors should also be aware of the company's weak gross profit margins, currently at 8.59%, which could impact profitability. Volatility in stock price movements is another factor to consider, as indicated by a 10.14% drop in the 1-month price total return.
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