Dana Incorporated (NYSE:DAN) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET
Company Participants
Craig Barber - Senior Director, IR and Corporate Communications
James Kamsickas - Chairman and CEO
Timothy Kraus - SVP and CFO
Conference Call Participants
Colin Langan - Wells Fargo
Tom Narayan - RBC
Dan Levy - Barclays
Joseph Spak - UBS
Jake Scholl - BNP Paribas
Operator
Good morning and welcome. Dana Incorporated's Second Quarter 2024 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.
[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 Corporate Communications, Craig Barber. Please go ahead, Mr. Barber.
Craig Barber
Good morning. Thank you for joining us today for Dana's second quarter 2024 earnings call. Today's presentation includes forward-looking statements about our expectation for Dana's future performance. Actual results could differ from what we discuss here today. For more details about the factors that could affect future results, please refer to our safe harbor statement found in our public filings and our reports with the SEC.
Before we proceed, I invite you to visit our investor website where you'll find this morning's press release and presentation. As a reminder, 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 consent.
On the call this morning, we have Jim Kamsickas, Dana’s Chairman and Chief Executive Officer, and Timothy Kraus, Senior Vice President and Chief Financial Officer. Now to get started, I'll turn the call over to Jim.
James Kamsickas
Good morning and thank you for joining us today. Please turn with me to page four, where I'll discuss the highlights for the second quarter of 2024. Starting on the left side, I'm pleased to report that Dana achieved sales of $2.7 billion in the second quarter, which is just about in line with the second quarter of last year.
Adjusted EBITDA for the quarter was $244 million, up over last year, driven by the strength of Dana's core business and end-to-end execution by the global Dana team, who did an outstanding job implementing ongoing efficiency improvements across all aspects of the organization. Their collective efforts have helped to offset the margin impact of inflation and spending on development of EV products, as well as the slower than expected demand in EV and other markets we serve.