Monday, May 21, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Dana cuts profit forecast for quarter, full year

Toledo's Dana Corp. chopped its profit forecast for the first quarter and full year yesterday after getting hit with higher-than-expected material costs; a component shortage that curbed heavy-duty axle shipments; and lower North American vehicle production.

Dana now expects earnings of 11 to 13 cents a share in the first quarter, not 17 to 23 cents previously announced, and $1.30 to $1.45 a share for the year, not $1.40 to $1.62. The auto supplier's stock took a dive on the New York Stock Exchange yesterday, closing at $13.01 a share, down 53 cents to a 52-week low.

A consensus of analysts polled by Thomson Financial Network predicted Dana would have earnings of 19 cents a share for the quarter and $1.36 for the year.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…