Dana’s Second-Quarter Earnings Decline
Dana Holding Corp.’s second-quarter earnings declined on weaker demand in South America and India.
Net income fell to $90 million, or 58 cents a share, from $96 million, or 54 cents, a year ago.
Sales dipped to $1.71 billion from $1.8 billion, the Maumee, Ohio, truck and auto component maker reported July 24.
Sales in the commercial vehicle segment decreased to $436 million from $498 million the same time last year, with declines in South America, especially Brazil, offsetting improved demand in North America.
The company said it expects full year sales to be about $6.8 billion and earnings before interest, taxes, depreciation and amortization to be about $760 million.
“While we expect market volumes in several of our end-user markets and regions to be stable or up slightly, we anticipate continued weakness in our global off-highway markets and the South American light- and commercial-vehicle markets, which will remain a headwind through the end of this year,” Dana President Roger Wood said in a statement.
