Dana Incorporated (NYSE:DAN) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET

Company Participants

Craig Barber - Senior Director, Investor Relations & Strategic Planning

Jim Kamsickas - Chairman & Chief Executive Officer

Timothy Kraus - Senior Vice President & Chief Financial Officer

Conference Call Participants

Colin Langan - Wells Fargo

Tom Narayan - RBC

Noah Kaye - Oppenheimer

James Picariello - BNP Paribas

Ryan Brinkman - JPMorgan

Rod Lache - Wolfe Research

Dan Levy - Barclays

Operator

Good morning and welcome to Dana Incorporated’s First Quarter 2023 Financial Webcast and Conference Call. My name is Regina and I will be your conference facilitator.

Please be advised that our meeting today, both the speakers’ remarks and Q&A session, will be recorded for replay purposes. For those participants who would like to access the call from the webcast, please reference the URL on our website and sign in as guests. There will be a question-and-answer period after the speakers’ remarks, and we will take question from the telephone only. To ensure that everyone has an opportunity to participate in today’s Q&A, we ask that callers limit themselves to one question at a time. If you would like to ask an additional question, please return to the queue.

At this time, I would like to begin the presentation by turning the call over to Dana’s Senior Director of Investor Relations and Strategic Planning, Craig Barber. Please go ahead, Mr. Barber.

Craig Barber

Thank you, Regina and good morning everyone on the call. Thanks for joining us today for our first quarter earnings call. You will find this morning’s press release and presentation now have been posted on our investor website. Today’s call is being recorded and the supporting materials are the property of Dana Incorporated. They may not be recorded, copied or rebroadcast without our written consent.

Allow me to remind you that our presentation includes forward-looking statements about our expectations for Dana’s future performance. Actual results could differ from those suggested by our comments here today. Additional information about the factors that could affect future results are summarized in our Safe Harbor statement found in our public filings, including our reports with the SEC.

On the call this morning are Jim Kamsickas, Chairman and Chief Executive Officer, and Timothy Kraus, Senior Vice President and Chief Financial Officer.

I will now turn the call over to Jim. Jim?

Jim Kamsickas

Good morning, and thank you for joining us today. Please turn with me to Page 4, where I'll discuss our highlights for the first quarter of 2023. Starting on the left side, Dana achieved record first quarter sales of $2.6 billion, a $164 million increase over the first quarter of last year, driven by continued steady customer demand, roll on of our new business backlog across all of our end markets and our ongoing cost recovery efforts.