Carl Icahn discloses updated portfolio positions in 13F filing

Exited LNG HRI positions, Increased SWX IEP

Highlights from Q2 2023 filing as compared to Q1 2023:

• Increased positions in: IEP (to ~334.49 mln shares from ~300 mln shares), SWX (to ~10.84 mln from ~10.52 mln)
• Maintained positions in: CVI (~71.2 mln shares), BHC (~34.72 mln shares), XRX (~34.25 mln shares), NWL (~29.99 mln shares) DAN (~14.29 mln shares)
• Closed positions in: LNG (from ~1 mln shares), HRI (from ~0.23 mln)
• Decreased positions in: FE (to ~14.09 mln shares from ~18.97 mln shares)

=Dana (DAN) reported earnings on Tue 13 Feb 2018 (b/o)

Dana Inc beats by $0.08, beats on revs; reaffirms FY18 EPS, revs guidance

• Reports Q4 (Dec) earnings of $0.62 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.54; revenues rose 27.0% year/year to $1.84 bln vs the $1.82 bln Capital IQ Consensus.
• Adjusted EBITDA for the fourth quarter of 2017 was $197 million, a $31 millionincrease over the same period last year. Last year's fourth quarter benefited from $8 million of gains in the Dana Companies subsidiary that was divested at the end of 2016. Profit in 2017 benefited from higher end-market demand and conversion of the sales backlog as well as earnings from acquisitions completed in the first quarter of 2017.
• Co reaffirms guidance for FY18, sees EPS of $2.60-2.90, excluding non-recurring items, vs. $2.88 Capital IQ Consensus Estimate; sees FY18 revs of $7.5-7.7 bln vs. $7.76 bln Capital IQ Consensus Estimate.
  • Strong end-market demand and the new-business backlog are driving an expected 6 percent sales growth in 2018. Continued strong demand for key light-truck programs is expected into 2018, as is higher end-market demand for off-highway equipment and commercial vehicles. Increased sales from the new-business backlog are expected to add approximately $300 million, and improved end-market demand is expected to accrete $100 million.
  • Adjusted EBITDA in 2018 is expected to improve by approximately $100 million, or 70 basis points of margin improvement. This improvement is driven primarily by higher sales levels, ongoing efficiency improvements, and acquisition synergies. 

=Dana Holding (DAN) reported earnings on Thur 21 Jul 2016 (b/o)

Dana Holding beats by $0.07, beats on revs; reaffirms FY16 EPS guidance, revs guidance  :

• Reports Q2 (Jun) earnings of $0.53 per share, excluding non-recurring items, $0.07 better thanthe Capital IQ Consensus of $0.46; revenues fell 3.9% year/year to $1.55 bln vs the $1.51 bln Capital IQ Consensus.
• Co reaffirms guidance for FY16, sees EPS of $1.65-1.75, excluding non-recurring items, vs. $1.61 Capital IQ Consensus Estimate; sees FY16 revs of $5.8-6.0 bln vs. $5.74 bln Capital IQ Consensus Estimate.
  • Cash flow from operations of $450 to 470 million;
  • Capital spending of $320 to $340 million; and
  • Free cash flow of $120 to $140 million.