Dana Inc. noticed a lower in its fourth-quarter internet revenue, largely on account of elevated prices that lowered revenue and pressured firm margins.
The axles and transmissions provider stated stated Thursday that internet revenue for the quarter dropped 15 p.c to $85 million.
The provider stated gross sales within the fourth quarter gained 1 p.c to $1.99 billion. The corporate stated the slight enhance is attributable to latest acquisitions and backlog conversions.
Final 12 months, the provider accomplished its acquisition of Canadian firm Nordresa Motors Inc. in a transfer to develop its electrified drivetrain capabilities. Dana additionally accomplished its acquisition of drive methods enterprise Oerlikon, the biggest deal in firm historical past, final 12 months.
Adjusted earnings earlier than curiosity, taxes, depreciation and amortization for the fourth quarter additionally elevated 1 p.c to $226 million.
Adjusted free money circulate fell greater than 9 p.c to $218 million, the corporate stated, largely on account of larger capital expenditures to assist new…