Dana cuts FY24 adjusted EPS view to 75c-95c from 80c-$1.30, consensus 92c

Cuts FY24 revenue view to $10.2B-$10.4B from $10.45B-$10.95B, consensus $10.56B. Sees FY24 adjusted EBITDA $855M-$895M. Sees FY24 free cash flow $90M-$110M. “Lower end-market demand is driving our reduced sales and profit expectations for the remainder of the year,” said Timothy Kraus, senior VP and CFO. “Targeted cost-savings actions and reduced capital expenditures will position us well for continued profit and cashflow improvements into next year.”