Dana Incorporated Sets Sights on $10 Billion Top Line by 2030, Achieves Strong Q2 Financial Results
Dana Incorporated, a leading global supplier of power and propulsion systems for commercial vehicle manufacturers, has reported strong second quarter financial results, driven by its continued focus on executing its plan and strategic initiatives. The company's sales came in at $2 billion, with adjusted EBITDA of $207 million, representing a margin of 10.3%, which is 270 basis points higher than the same period in 2025.
According to Byron Foster, Chief Executive Officer, "I am pleased to report strong second quarter financial results driven by a continued focus on executing our plan and strategic initiatives." The team delivered $19 million of cost savings in the quarter, bringing the year-to-date number to $54 million. This achievement keeps the company on track to realize its program target of $325 million for 2026.
One notable highlight from the quarter is the restart of Dana Incorporated's share repurchase program until the closing of the Eaton Mobility transaction. The company has also evaluated the possibility of additional share repurchases post-closing. In Q2, they repurchased 1.2 million shares, returning $44 million to their shareholders. Year-to-date, that brings their share repurchases to $169 million, with plans for an additional $200 million of repurchases in the balance of the calendar year.
The Eaton Mobility combination is progressing well, and will be structured as a split-off. This marks significant progress towards Dana Incorporated's goal of achieving $10 billion in top line revenue by 2030. The company continues to make strides in its key growth pillars, including traditional products, aftermarket, and Applied Technologies.
In terms of customer recognition, the company is honored to have been recognized by three of its largest customers for quality, delivery, competitiveness, and commercial collaboration and data transparency regarding tariff recoveries. These are a small sample of the positive feedback Dana Incorporated continues to receive from its customers, demonstrating their trust in the company's ability to deliver real value.
The company's growth strategy includes expanding its Victor Reinz branded sealing products with top retail chains across the nation. With this continued focus on execution and delivery, it appears that Dana Incorporated is well-positioned for future success.
