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May 30, 2015 5:19 PM ET

Auto Components

Company Overview of Dana Holding Corporation

Company Overview

Dana Holding Corporation manufactures and sells driveline, sealing, and thermal-management products for vehicle manufacturers in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies. The Light Vehicle Driveline Technologies segment offers front axles, rear axles, driveshafts, differentials, torque couplings, and modular assemblies for use in light trucks, sport utility vehicles, crossover utility vehicles, vans, and passenger cars. The Commercial Vehicle Driveline Technologies segment provides Steer and drive...

3939 Technology Drive

Maumee, OH 43537

United States

Founded in 1904

23,200 Employees

Phone:

419-887-3000

Key Executives for Dana Holding Corporation

Chief Executive Officer, President, Director and Member of Strategy Board
Age: 51
Total Annual Compensation: $1.0M
Chief Financial Officer, Executive Vice President and Member of Strategy Board
Age: 53
Total Annual Compensation: $615.0K
Executive Vice President of Dana, Member of Strategy Board and Group President - On-Highway Driveline Technologies
Age: 47
Total Annual Compensation: $565.0K
Member of Strategy Board and President of Off-Highway Technologies
Age: 55
Total Annual Compensation: $460.0K
Chief Administrative Officer and Member of Strategy Board
Age: 56
Total Annual Compensation: $475.0K
Compensation as of Fiscal Year 2014.

Dana Holding Corporation Key Developments

Dana Increases Quarterly Dividend Payable on June 5, 2015

Dana Holding Corporation announced that its board of directors has raised the dividend on its common stock. The board declared a quarterly dividend of $0.06 per share, payable on June 5, 2015, to holders of Dana common stock as of May 15. The new dividend rate represents a 20% increase above the prior quarterly dividend.

Dana Introduces Drivetrain System for Hydrostatic-Driven Off-Highway Vehicles

Dana Holding Corporation has introduced an upgraded drivetrain system for hydrostatic-driven off-highway vehicles with an optional disconnect feature. Designed for wheeled excavators, telescopic boom handlers, and front-end loaders, the system includes the enhanced, two-speed Spicer Model 367 shift-on-fly hydrostatic transmission with improved shift quality and a disconnect option that allows the vehicle to disengage one of the axles, which helps to reduce power loss, fuel consumption, and tire wear. Extremely compact and versatile, the Spicer Model 367 transmission is engineered with advanced gear-shifting technology that offers a slow working speed and a fast speed for traveling. It includes a hydraulic motor ranging from 55 to 110cc, and it can be remote mounted or directly flanged to Spicer components. Other options include hydraulic shifting, gear-engagement and speed sensors, and an integrated spring-applied, hydraulically released (SAHR) parking brake. Designed for hydrostatic and hydrodynamic drivelines, the Spicer Model 211 industrial planetary steer axle has been upgraded to deliver improved wheel-end torque and load capacity, better brake performance, and reduced power loss in severe and high-speed applications. Dana will feature the Spicer Model 367 transmission and Spicer Model 211 axle at Intermat as part of a complete drivetrain system for a compact telescopic boom handler with 2.7- to 3.6-tonne (6k to 8k) lifting capacity. It will be configured with Spicer PowerBoost hydraulic-hybrid technology, which features a modular design that offers OEMs flexibility in hybrid control performance, including hydraulic start/stop functionality for use with electronically controlled powertrains, integration with hydraulic work circuits, and other options depending on customer powertrain configuration. This system demonstrates how off-highway manufacturers can potentially reduce the engine size for applications that currently require an engine at or slightly above the US EPA's Tier 4 or Euro 5/6 emissions threshold of 56 kW (75 hp).

Dana Holding Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Dana Holding Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. Net sales for the quarter were $1.61 billion, down slightly from the same period in 2014, with unfavorable currency lowering sales by $121 million. Net income for the quarter improved to $63 million, an increase of 85%, or $29 million higher than the $34 million recorded in the same period in 2014. Higher adjusted EBITDA and lower amortization, income tax, and restructuring expenses drove the increase in net income. Diluted adjusted earnings per share were $0.50, compared with $0.32 in the first quarter of 2014, driven by higher earnings and a lower share count from the continued execution of the company's share repurchase program. Adjusted EBITDA for the quarter was $176 million compared with $165 million for the same period in 2014, while adjusted EBITDA as a percent of sales improved 110 basis points to 10.9% compared with 9.8% in the first quarter of 2014. The improvement in adjusted EBITDA reflected the benefit of higher sales volume and performance and the impact of the Venezuela divestiture, which was completed in early 2015. These factors increased adjusted EBITDA by $36 million compared with last year. This improvement was partially offset by currency effects of $25 million, reflecting the relative strength of the U.S. dollar against most major currencies, as well as certain currency transaction gains that benefited last year's first quarter. Income from continuing operations before income taxes was $104 million against $71 million a year ago. Income from continuing operations was $74 million or $0.38 diluted per share against $38 million or $0.19 diluted per share a year ago. Net income available to common stockholders was $63 million or $0.38 diluted per share against $31 million or $0.19 diluted per share a year ago. Net cash used in operating activities was $20 million against net cash provided by operating activities of $31 million a year ago. Purchases of property, plant and equipment was $62 million against $67 million a year ago. Net debt position was about $575 billion. Capital spending was $62 million, slightly lower than last year. The company provided earnings guidance for the full year of 2015. The company has tightened the range for full-year adjusted EBITDA and raised the expectation for adjusted EBITDA margin to 11.7% of sales. The expected range for diluted adjusted EPS and free cash flow remain unchanged. Sales of $6.3 to 6.4 billion; adjusted EBITDA of $740 to $750 million; diluted adjusted EPS of approximately $2.05 to $2.15 (excluding the impact of share repurchases after Mar. 31, 2015); capital spending of $300 to $320 million; and free cash flow of $190 to $220 million.

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