Dana Incorporated (NYSE: DAN) reported Q2 EPS of $0.85, $0.07 better than the analyst estimate of $0.78. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.02 billion.

Company Affirms 2018 Guidance Ranges:

Sales for this year are expected to be at the high end of our guidance range, resulting in 12 percent growth over last year. The year-over-year improvement is due to continued strong end-market demand for key light-truck programs, off-highway equipment, and commercial vehicles, with sales also benefiting from our new-business backlog. Foreign currency translation is expected to comprise approximately $50 million of the year-over-year sales comparison.

Adjusted EBITDA in 2018 is expected to improve by approximately $145 million from 2017 for a margin improvement of 60 basis points. This improvement is driven primarily by higher sales levels, ongoing efficiency benefits, and acquisition synergies.

"As we look forward to the second half of this year, we expect strong market demand to continue, tempered by normal seasonality when compared with the first half of the year," said Jonathan Collins, executive vice president and chief financial officer of Dana. "Our margin performance is on track to steadily improve this year, solidifying our trajectory to achieve our 2019 targets."

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