Dana's Q1 net income up 44% y/y to USD108 million on higher sales

Company reconfirms full-year financial guidance

Dana’s net income increased 44% year-over-year (y/y) to USD108 million and EBIT grew 34.9% y/y to USD174 million in the first quarter ended 31 March 2018, the US-based supplier said in a press release on 30 April. Dana attributed strong growth in earnings in the first quarter to 25.7% y/y increase in net sales to USD2.14 billion. The company recorded adjusted EBITDA of USD248 million, up 21% y/y, resulting in adjusted EBITDA margin of 11.6%.