Dana cuts outlook on materials costs, output cuts

Newswire

CHICAGO, March 23 (Reuters) - Auto and truck parts supplier Dana Corp. on Wednesday cut its first-quarter and full-year earnings outlook, citing higher-than-expected raw materials costs and lower-than-expected U.S. light vehicle production. Dana said it now expects earnings of 11 cents to 13 cents a share for the first quarter, down from a prior company forecast of 17 cents to 23 cents. It expects full-year earnings of $1.30 to $1.45 per share, down from a prior forecast of $1.40 to $1.62. ...

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