Dana Reports Higher 3Q Net Income, Revenue

Dana Inc. reported third-quarter gains in net income and revenue.

For the period ended Sept. 30, net income was $73 million, or 46 cents per share, compared with $61 million, or 39 cents, in the same period last year.

Sales rose to $1.83 billion compared with $1.38 billion a year earlier. The quarterly increase was driven in part by recent acquisitions that contributed $133 million.

Currency provided a tailwind to sales of $28 million. Excluding acquisitions and currency effects, stronger market demand and new business generated 21% organic sales growth.

Sales in the commercial vehicle sector, year-over-year, surged 26% to $371 million compared with $294 million.

Dana supplies steer axles, steering shafts, driveshaft assemblies, engine gaskets, hub systems and a tire-pressure management system that features self-inflating tires.