Dana Incorporated (NYSE:DAN) Q2 2023 Earnings Call Transcript

Timothy Kraus: Yes. So in terms of unrecovered inflation, we continue like this year, we’ll have another $50 million on recovery, inflation. So that — again, until we sort of see all of the programs really work their way out, I don’t think you could say that, hey, we’ve gotten everything recovered. I think we continue to work with all the customers to go get recoveries, but that’s going to be with us for a little while. On commodities, they tend to ebb and flow through the regular business and those, the agreements and processes that we have in place are working extremely well and would expect that to continue.

Emmanuel Rosner: Great. Thank you.

Jim Kamsickas: Okay. Well, hey, thanks, everybody. This is Jim. Thanks, everybody, for joining the call. As always, we appreciate your attendance and interest in Dana. Obviously, as a continuation from the strong Q1 results, you can see from today’s update that Dana is not only trending extremely well. We’re progressing to a trajectory of the company record financial performance similar to what we delivered in 2018, 2019 and had financially guided to 2020 prior to the COVID shutdowns, which commenced obviously, in March of 2020. What’s important to note, though, is Dana is very unique. Dana over the same period of time, not only was the first mover in establishing in-house e-powertrain electrification capability, we had the courage to never waver from this commitment throughout the — from the — what I argue was the three-year black swan event in the B2B mobility supply industry.

Wavering from the enterprise strategy and de-committing from electrification would have been the easy answer. However, as we can tell now, it definitely would not have been the right answer. Today into addition to the tremendous revenue growth we’ve had over the last six years, improving our earnings intensity, Dana is clearly a winner in electrification and a supplier of choice for all mobility segments. As electrification volumes continue to accelerate and they will, Dana will continue to be energy-source agnostic, partnering with our partner customers in both internal combustion engine and electrified vehicle manufacturing for years to come and to win. With your — again, thank you for your time and attendance. We look forward to talking to you next month — or next quarter.

Thank you.

Operator: This concludes today’s conference call. Thank you for joining us. You may now disconnect.