Monitor the single remaining regulatory approval for the Eaton Mobility transaction and the December 7 special shareholder meeting. Watch for updates on post-close share repurchase plans and the ability to offset inflationary pressures (energy, freight) in Q4 and 2027.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Oct 28 $24.85entry
- T+1 · 6d ago −7.00%α −5.23% · $23.11
- T+5 · due 5h ago Pending
- T+5 · todayOpen
- T+20 · in 21d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Dana reported Q3 2026 sales of $2.038 billion (+6.3% YoY) and adjusted EBITDA of $218 million (+34.6% YoY), raised full-year sales guidance by $50 million to ~$7.8 billion, and maintained adjusted EBITDA guidance at ~$825 million. The Eaton Mobility transaction remains on track to close around end of Q1 2027 with only one regulatory approval outstanding; the special shareholder meeting is set for December 7, 2026. Management emphasized $250 million in cost synergies and new revenue synergy commentary, while noting inflationary pressures and a $20 million labor charge in Q3.
Key Financial Metrics
Key Facts
- Q3 2026 sales of $2.038 billion, up $121 million or 6.3% YoY from $1.917 billion
- Q3 2026 adjusted EBITDA of $218 million, up $56 million or 34.6% YoY; margin expanded 220 bps to 10.7%
- Full-year 2026 sales guidance raised by $50 million to ~$7.8 billion midpoint; adjusted EBITDA guidance maintained at ~$825 million midpoint
- Diluted adjusted EPS guidance maintained at ~$2.00, plus or minus $0.25
- Adjusted free cash flow outlook maintained at ~$325 million midpoint
- Eaton Mobility transaction on track to close around end of Q1 2027; only one regulatory approval remaining
- Special shareholder meeting scheduled for December 7, 2026
- Cost synergy target of $250 million run-rate within 24 months post-close; ~$75 million expected in 2027
- Share repurchase program increased to $469 million for 2026; $200 million in Q3, $100 million remaining in Q4
- Q3 included a $20 million labor charge and a $24 million loss on redemption of 2031 euro notes
- Net leverage expected at 1.6x post-transaction, inclusive of additional $100 million in buybacks
Financial Impact
Q3 sales +6.3% YoY, adjusted EBITDA +34.6% YoY; full-year sales guidance raised by $50 million; EBITDA guidance unchanged at $825 million midpoint
Risk Factors
- Inflationary pressures (energy, freight) with no contractual recovery mechanisms; management noted a '9-digit' inflationary number to overcome
- Light vehicle platform softness in North America partially offset by commercial vehicle strength
- Uncertainty on timing of customer cost recoveries and commodity timing
- Post-close share repurchase restart subject to Eaton's comfort; may be delayed up to 24 months
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-436335 |
| Document: 0001193125-26-436335-index-headers.html | 0001193125-26-436335 |
| Document: 0001193125-26-436335-index.html | 0001193125-26-436335 |
| Document: 0001193125-26-436335.txt | 0001193125-26-436335 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 3, 2026 today | 425 | $22.99 | awaiting T+60 | awaiting T+60 | $23.85 (+3.74%) |
Oct 28, 2026 6d ago | 425 | $24.85 | awaiting T+60 | awaiting T+60 | $23.85 (−4.02%) |
Oct 28, 2026 6d ago | 425 | $24.85 | awaiting T+60 | awaiting T+60 | $23.85 (−4.02%) |
Oct 28, 2026 7d ago | 8-K | $25.48 | awaiting T+60 | awaiting T+60 | $23.85 (−6.40%) |
Oct 20, 2026 14d ago | Press Release | $29.05 | awaiting T+60 | awaiting T+60 | $23.85 (−17.90%) |
Aug 6, 2026 12w ago | 425 | $28.44 $22.63 | ▼ −20.43% | ▼ −18.30% | $23.85 (−16.14%) |
Aug 6, 2026 12w ago | 425 | $27.32 $23.11 | ▼ −15.41% | ▼ −13.74% | $23.85 (−12.70%) |
Aug 6, 2026 12w ago | 8-K | $27.32 $23.11 | ▲ +15.41% | ▲ +13.74% | $23.85 (+12.70%) |
Jul 20, 2026 15w ago | Press Release | $26.15 | awaiting T+60 | awaiting T+60 | $23.85 (−8.80%) |
Jun 11, 2026 20w ago | 425 | $30.81 $31.29 | ▲ +1.56% | ▼ −1.71% | $23.85 (−22.59%) |
US Market Status
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