Dana sees FY23 adjusted EPS 80c with strike through October, consensus 81c

Sees FY23 revenue $10.7B with strike through October, consensus $10.68B. Sees FY23 adjusted EBITDA $850M with strike through October. Sees FY23 adjusted EPS of 30c with strike through December. Sees FY23 revenue $10.2B with strike through December. Sees FY23 adjusted EBITDA $76)m with strike through December. “The UAW strike is significantly impacting a number of our operations in North America while our heavy-vehicle business and operations in the rest of the world are largely unaffected,” said Timothy Kraus, Dana’s senior vice president and chief financial officer. Dana remains fundamentally strong due to the strength of our balance sheet and capital structure. If all the UAW strikes are resolved by the end of October, Dana expects sales and profit to be maintained at the midpoint of our previous guidance range. If no resolution is reached by year’s end at all our Detroit 3 customers, including Ford, we anticipate our sales to be approximately $500 million lower.”