Dana Incorporated (NYSE: DAN) reported Q1 EPS of $0.78, $0.05 better than the analyst estimate of $0.73. Revenue for the quarter came in at $2.163 billion versus the consensus estimate of $2.18 billion.

• Record first-quarter sales of $2.2 billion, an increase of $25 million compared with first-quarter 2018; represents 5 percent growth on a constant-currency basis
• Net income attributable to Dana of $98 million; diluted EPS of $0.68
• Record adjusted EBITDA of $257 million, an increase of $9 million
• Margin of 11.9 percent of sales, an expansion of 30 basis points
• Record diluted adjusted EPS of $0.78, an improvement of 4 percent over first-quarter 2018
• Awarded 2019 Automotive News PACE Award
• Completed purchase of SME Group; Drive Systems segment from Oerlikon Group

"Dana achieved record sales this quarter, which represents our 10th consecutive quarter of year-over-year sales growth," said James Kamsickas, Dana president and chief executive officer. "We remain focused on strong execution and top-line growth as we work to fully integrate our recent acquisitions, launch new products, and position the company for success as mobility markets transition to electric propulsion."

"Our strong first quarter supports delivering our full-year guidance and keeps us firmly on the path to achieve our long-term targets," said Jonathan Collins, executive vice president and chief financial officer of Dana. "Our outlook for 2019 and 2020 continues to be positive due to our robust sales backlog, stable end markets, and accretive acquisitions."

GUIDANCE:

Dana Incorporated sees FY2019 EPS of $2.95-$3.45, versus the consensus of $3.27. Dana Incorporated sees FY2019 revenue of $8.95-9.35 billion, versus the consensus of $9.11 billion.

• Adjusted EBITDA of $1.085 billion to $1.165 billion, an implied adjusted EBITDA margin of approximately 12.3 percent at the midpoint of the range;
• Operating cash flow of approximately 5.5 percent; and
• Adjusted free cash flow of approximately 3.0 percent.

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