Dana Incorporated (NYSE:DAN) Q2 2022 Earnings Conference Call August 3, 2022 10:00 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
James Picariello - BNP Paribas
Rod Lache - Wolfe Research
Emmanuel Rosner - Deutsche Bank
Colin Langan - Wells Fargo
Noah Kaye - Oppenheimer
Joseph Spak - RBC Capital Markets
Operator
Good morning, and welcome to Dana Incorporated’s Second Quarter Financial Webcast and Conference Call. My name is Lisa, and I’ll 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. [Operator Instructions] There will be a question-and-answer period after the speakers’ remarks and we will take questions from the telephone only. [Operator Instructions]
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 thanks to everyone joining us on the call today for our second 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.
Jim, will start us off this morning.
Jim Kamsickas
Good morning and thank you for joining us today. Moving on to Slide 4 and our update for the second quarter, Dana had another quarter of strong sales totaling $2.6 billion, a $381 million increase over last year, driven by robust customer demand in all of our end markets, including $60 million incremental EV sales. While the strong demand in the recovery commodity costs continued to fuel sales growth for us in the second quarter, profitability was impacted because of record cost inflation and ongoing supply chain disruptions driving volatile customer demand schedules that are affecting the entire mobility industry.