Dana Inc rises on Q3 profit beat, higher sales

Dana

27/10/2023 16:45

** Shares of auto parts supplier Dana Inc  DAN.N  up 2.8% at
$13.06
    ** Posts Q3 adj profit of 30 cents per share, above LSEG
estimates of 13 cents per share
    ** Q3 sales of $2.67 bln, up 5% over last year
    ** DAN, however, says the UAW strikes affected some of its
largest light truck programs
    ** Sees FY sales at $10.7 bln if UAW strikes through Oct.
31, or $10.2 bln with strikes through Dec. 31.
    ** Sees FY adj EPS at 80 cents assuming strike continues
through Oct. 31, or 30 cents with strike through Dec. 31
    ** "Longer the UAW strike continues, the greater financial
stress there will be across the Tier 2 through Tier 4 supply
base," says CEO James Kamsickas 
    ** DAN shares down 14% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))