Dana Incorporated (NYSE: DAN) reported fourth-quarter 2025 sales of $1.9 billion and a return to positive pre-tax income from continuing operations, according to its annual financial report released Wednesday. The company also confirmed its 2026 financial targets, citing progress on cost-reduction initiatives and growth from its three-year new business backlog.

Fourth-Quarter Results

For the three months ended December 31, 2025, consolidated revenue totaled $1,867 million, an increase of 5.2% from $1,774 million in the prior-year period. The company reported pre-tax income from continuing operations of $12 million, compared with a loss of $154 million in the fourth quarter of 2024.

Segment performance for the quarter was as follows:

• Light Vehicle: Sales increased to $1,316 million from $1,201 million in 2024. Adjusted EBITDA was $160 million.
• Commercial Vehicle: Sales declined to $551 million from $573 million in 2024. Adjusted EBITDA was $60 million.

Full-Year 2025 Results

Consolidated sales for the full year 2025 were $7.5 billion, representing a 3% decrease compared with 2024. The company reported a net loss of $33 million for the year, a significant improvement from the $321 million loss recorded in 2024.

Adjusted EBITDA for 2025 totaled $610 million, up from $395 million in the prior year, reflecting margin improvements and cost discipline.

Business and Capital Actions

During 2025, Dana completed the sale of its Off-Highway business and used the proceeds to strengthen its balance sheet and return capital to shareholders. The company reduced total debt by approximately $2 billion following the divestiture.

In 2025, Dana repurchased 34 million shares, representing approximately 23% of its outstanding shares. In January 2026, the company repurchased an additional $100 million of shares. The board also extended and increased the share repurchase authorization.

2026 Guidance and Strategy

For fiscal year 2026, Dana issued the following guidance:

• Sales: $7.30 billion to $7.70 billion
• Adjusted EBITDA: $750 million to $850 million
• Adjusted EBITDA Margin: 10.0% to 11.0%

Management highlighted a three-year new business backlog of approximately $750 million, with $200 million of incremental revenue growth expected in 2026.

The company continues executing its remaining $325 million cost-reduction initiative and advancing its “Dana 2030” strategy, which targets $10 billion in annual sales by 2030.

Summary

Dana closed 2025 with $7.5 billion in sales and $610 million in adjusted EBITDA, returning to pre-tax profitability in the fourth quarter. While the Light Vehicle segment delivered revenue growth, Commercial Vehicle results declined modestly. With significant debt reduction completed and margin expansion targets in place, management expects improved profitability in 2026.