Dana Incorporated (NYSE:DAN) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET

Company Participants

Craig Barber – Senior Director of Investor Relations and Strategic Planning

Jim Kamsickas – Chairman and Chief Executive Officer

Timothy Kraus – Senior Vice President and Chief Financial Officer

Conference Call Participants

Noah Kaye – Oppenheimer

Colin Langan – Wells Fargo

Operator

Good morning, and welcome to Dana Incorporated's Third Quarter Financial Webcast and Conference Call. My name is Lisa, and I will be your conference facilitator. Please be advised that your meeting today, both the speakers’ remarks and Q&A session will be recorded for replay purposes. [Operator Instructions] There will be a question-and-answer period after the speakers’ remarks and we will take questions from the telephone only. To ensure that everyone has an opportunity to participate in today's Q&A, we ask that the 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, Lisa, and good morning everyone. Thank you for joining us today for our third quarter 2022 earnings call. You will find this morning's press release and presentation are now 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 today’s presentation includes forward-looking statements about our expectations for Dana's future performance. Actual results could differ from those suggested by our comments 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.

It's my pleasure to turn the call over to Jim.

Jim Kamsickas

Good morning and thank you for joining us today. Moving to Slide 4 and our update for the third quarter, Dana had another quarter of strong sales totaling $2.5 billion, a $330 million increase over last year driven by continued robust customer demand in all of our end markets. While our strong customer requirements, Dana's new business backlog and cost recovers – recoveries fueled sales growth in the third quarter, Our input costs continue to increase due to the global inflation. Additionally, volatile customer demand schedule fluctuations continue to create a challenging environment across the entire mobility industry, pressuring profit margins. Where possible, we're taking actions across the company to mitigate the impact on our profitability, positioning us for strong rebound once the environment stabilizes.