DANA INC [DAN] reports annual net loss of $48.0 million
Company Reports Revenue of $10.6 billion
DANA INC[DAN] has reported a net loss of $48.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $10.6 billion
Based in MAUMEE, Ohio, DANA INC operates in the MANUFACTURING sector.
In the fiscal year ended December 31, 2023, the company reported net sales of $10,555 million, up from $10,156 million in the previous year and $8,945 million in 2021. This represents an increase in revenue compared to the prior periods.
Cost of sales for the same period was $9,655 million, higher than the $9,393 million reported in 2022 and $8,108 million in 2021. Operating income for the current year was $316 million, a significant improvement from $86 million in 2022 and $395 million in 2021.
The company achieved a net income of $48 million in 2023, a substantial recovery from a net loss of $311 million in 2022 and a net income of $200 million in 2021. This positive trend indicates a turnaround in profitability for the company.
Earnings per share for basic and diluted amounts were $0.26 for both in 2023, compared to a loss of $1.69 per share in 2022 and earnings of $1.36 per share in 2021. The weighted-average common shares outstanding also saw a slight increase from the previous year.
Overall, the company showed promising financial performance in 2023, with significant improvements in revenue, operating income, and net income compared to the previous years.
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