Dana said its performance in the second quarter benefited from ongoing strong demand across its three business segments.
The company posted revenue of $2.21 billion, up nearly 105 percent from $1.08 billion in the same period last year.
The Maumee, Ohio-based axle and transmission producer swung to net income of $53 million in the quarter from a net loss of $173 million in the year-earlier period.
“We continue to actively manage through a challenging supply-chain environment, and our team has done an excellent job proactively responding to the regional impacts of COVID-19,” Dana CEO James Kamsickas said in a statement.
Dana’s adjusted earnings before interest, taxes, depreciation and amortization stood at $233 million, compared with a loss of $5 million in the second quarter of 2020.
The company is maintaining its estimate of full-year sales landing between $8.5 to $9 billion, but Jonathan Collins — Dana’s chief financial officer — said he anticipates sales landing at the higher end due to the level of market demand exhibited in the first half of the year.
Notably, Dana’s sales in the light-vehicle segment got a boost, rising 164 percent from $337 million in 2020’s second quarter to $890 million in 2021’s second quarter.
Dana ranks No. 33 on the Automotive News list of the top 100 global suppliers, with worldwide parts sales to automakers of $7.1 billion in 2020.
