The strong operational beat and raised guidance provide near-term support, while the split-off structure and synergy targets add strategic upside. Monitor for the special shareholder meeting proxy filing and regulatory approvals as the next catalysts toward the Q1 2027 close.
Price Chart
Executive Summary
Dana Incorporated reported strong Q2 2026 results with sales up 4% YoY to $2.01B and adjusted EBITDA up 41% to $207M (10.3% margin, +270bps). The company raised full-year guidance, restarted share repurchases, and confirmed the Eaton Mobility transaction remains on track for Q1 2027 close, now structured as a split-off. This 425 filing bundles a solid operational beat with positive deal structure enhancements, making it a net positive event for shareholders.
Key Financial Metrics
Key Facts
- Q2 2026 sales of $2.01B, up 4% YoY from $1.935B
- Adjusted EBITDA of $207M, up 41% YoY from $147M; margin expanded 270bps to 10.3%
- Raised full-year 2026 guidance: sales to $7.65-7.85B (up ~$225M), adjusted EBITDA to $800-850M (up ~$25M)
- Restarted share repurchase program; repurchased 1.2M shares for $44M in Q2; planning ~$200M more in 2026
- Eaton Mobility transaction now structured as a split-off (tax-free to shareholders), on track for Q1 2027 close
- At least $250M of run-rate cost synergies identified within 24 months post-close; pro forma net leverage ~1.4x
Financial Impact
Q2 revenue +$75M YoY; adjusted EBITDA +$60M YoY; full-year guidance raised by ~$225M in sales and ~$25M in adjusted EBITDA
Risk Factors
- Failure to obtain Dana shareholder or regulatory approvals for the Eaton Mobility transaction
- Integration risks and inability to realize the projected $250M+ cost synergies
- Auto industry cyclicality, tariff impacts, and commodity cost headwinds could pressure margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-336684 |
| Document: 0001193125-26-336684-index-headers.html | 0001193125-26-336684 |
| Document: 0001193125-26-336684-index.html | 0001193125-26-336684 |
| Document: 0001193125-26-336684.txt | 0001193125-26-336684 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | 425 | $28.44 $32.04 | ▲ +12.66% | ▲ +13.06% | $27.85 (−2.07%) |
Aug 6, 2026 8w ago | 425 | $27.32 $31.52 | ▲ +15.37% | ▲ +14.77% | $27.85 (+1.94%) |
Aug 6, 2026 8w ago | 8-K | $27.32 $31.52 | ▼ −15.37% | ▼ −14.77% | $27.85 (−1.94%) |
Jul 20, 2026 10w ago | Press Release | $26.15 $31.35 | ▼ −19.89% | ▼ −15.76% | $27.85 (−6.50%) |
Jun 11, 2026 16w ago | 425 | $30.81 $27.33 | ▼ −11.29% | ▼ −13.07% | $27.85 (−9.61%) |
Jun 11, 2026 16w ago | 425 | $30.81 $27.33 | ▼ −11.29% | ▼ −13.07% | $27.85 (−9.61%) |
Jun 11, 2026 16w ago | 425 | $30.81 $27.33 | ▼ −11.29% | ▼ −13.07% | $27.85 (−9.61%) |
Jun 11, 2026 16w ago | 425 | $30.81 $27.33 | ▼ −11.29% | ▼ −13.07% | $27.85 (−9.61%) |
Jun 11, 2026 16w ago | 8-K | $30.81 $27.33 | ▼ −11.29% | ▼ −13.07% | $27.85 (−9.61%) |
Jun 11, 2026 16w ago | 425 | $30.11 $26.39 | ▼ −12.35% | ▼ −14.25% | $27.85 (−7.51%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access