Dana Holding Earnings: Here’s Why Investors are Buying Shares Now
Dana Holding Corporation (NYSE:DAN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.69%.
Dana Holding Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.57% to $0.54 in the quarter versus EPS of $0.56 in the year-earlier quarter.
Revenue: Decreased 7.64% to $1.8 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dana Holding Corporation reported adjusted EPS income of $0.54 per share. By that measure, the company beat the mean analyst estimate of $0.51. It missed the average revenue estimate of $1.83 billion.
Quoting Management: “I am pleased with Dana’s second-quarter performance. We continue to focus on disciplined cost and investment actions to generate positive cash flow and improve margin performance in each of our four business segments,” said company President and Chief Executive Officer Roger J. Wood. “Looking forward, political and economic uncertainties in a number of countries are putting pressure on volumes in some of our key markets. Yet I am confident in our ability to continue to remain flexible and execute on the levers within our control that are necessary to adjust our cost structure and respond quickly to changing market conditions.”
Key Stats (on next page)…