Dafinchi AI

KAI

Industrial

Adjusted EBITDA was $52.4 million, down 15% from $61.8 million in Q2 2024, with margin at 20.5% versus 22.5% prior year.
GAAP EPS decreased 17% to $2.22; adjusted EPS decreased 18% to $2.31, exceeding guidance by $0.31 due to higher revenue and gross margin.
Gross margin was 45.9%, up 150 basis points from 44.4% in Q2 2024, driven by a higher percentage of aftermarket parts (71% vs. 63%).
Net debt decreased by over $100 million year-over-year to $151.7 million; leverage ratio improved to 0.86 from 0.95.
Operating cash flow increased 44% to $40.5 million; free cash flow increased 58% to $36.5 million, driven partly by increased customer deposits.
Second quarter revenue was $255.3 million, including record aftermarket parts revenue of $181.8 million.
SG&A expenses increased 6% to $73.9 million, or 29% of revenue, impacted by foreign currency effects and acquisition-related costs.

DAN

Industrial

Dana announced the sale of its Off-Highway business to Allison for just over $2.7 billion, with net cash proceeds of approximately $2.4 billion.
The closing is expected in late Q4, with regulatory filings mostly completed.
Proceeds will be used to return $600 million to shareholders and reduce debt by a couple of billion dollars.
The sale is expected to significantly de-leverage the balance sheet, with net debt leverage forecasted at about 0.7x EBITDA post-closing.

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