DANA Inc Q1 2026 results

Welcome to Dana Incorporated's earnings call for the first quarter of 2026. You'll see in our deck, we've talked about winning the Ram Dakota program, and with that award, we now have just over 60% of our growth through 2030 secured. Starting with the financial results, EBITDA margin came in at 9.2%, which, as Bruce alluded to, is a great year-over-year improvement of 400 basis points. This is right in line with what we laid out relative to our Dana 2030 strategy around profitable growth and margin expansion for the company.

As a quick reminder, our plan is about profitable growth in our traditional business, our aftermarket business, as well as applied technologies, and it's about margin expansion through manufacturing excellence and structural cost reductions. Margins in the mid-double-digit, 14%-15% range, which is a 400 basis point improvement over the midpoint of this year's guide, and then 6% free cash flow margins. This quarter, we'd like to give you an update on the first pillar around traditional growth of our traditional product lines, if you will. If you flip to page seven, just to give you a visual now of where the backlog stands.

When we were last in front of you, our three-year net new sales backlog was $750 million. Really proud that the team continues to deliver on incremental growth in our backlog and secured a significant new award with one of our key customers. You're going to see that starting here in 2026, and you'll see that those margins increase over our five-year planning horizon. It's about delivering strong shareholder returns through profitable growth, margin expansion, and maintaining a best-in-sector balance sheet.