Dana (NYSE:DAN) heads lower in premarket trading after providing an update ahead of a presentation at the RBC Capital Markets Industrial Conference.
The company says weaker off-highway end market demand during July and August means Q3 sales are likely to fall $100M below expectations. Dana expects to largely offset the Q3 revenue shortfall in Q4 through sustained North America Class 8 production.
A segment mix of lower Off-Highway and higher Commercial Vehicle is said to likely pressure profit margins in Q3.
Shares of Dana are down 3.47% premarket to $15.00.
Subscribe for full text news in your inbox