Dana Incorporated. (NYSE:DAN) Q3 2023 Earnings Conference Call October 27, 2023 9:00 AM ET
Company Participants
Craig Barber - Senior Director of Investor Relations and Strategic Planning
James 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
Dan Levy - Barclays
Joseph Spack - UBS
James Picariello - BNP Paribas
Winnie Dong - Deutsche Bank
Operator
Good morning, and welcome to Dana Incorporated’s Third Quarter 2023 Financial Webcast and Conference Call. My name is Chris, and I’ll be your conference facilitator. Please be advised that our meeting today, both the speakers’ remarks and the 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 a guest. 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, Chris and good morning everyone on the call. Thanks for joining us today for our third quarter 2023 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.
My pleasure to turn the call over to Jim. Jim?
James Kamsickas
Good morning. And thank you for joining us today. First, please turn with me to page 4 where I will discuss our highlights for the third quarter of 2023. Starting on the left side, we're pleased to report the Dana achieved robust third quarter sales of $2.7 billion, a $134 million increase over the same period last year driven by continued strong customer demand, the rollout of our new business backlogs across all of our end markets including EV programs and our ongoing cost recovery efforts.