Dauch Corporation · NYSE:DCH
Dauch — Q1 2026 Earnings Presentation
25 slides from Dauch's earnings presentation, May 8, 2026
Slide 1: First Quarter 2026 Earnings Call
First Quarter 2026 Earnings Call May 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements In this presentation, Dauch Corporation (“Dauch”) makes statements concerning its expectations, beliefs, plans, objectives, goals, strategies, and future events or performance, including, but not limited to, certain statements related to future capital expenditures, expens
Slide 3: 1Q 2026 Financial Highlights
1Q 2026 Financial Highlights Top-Line Profitability Cash $2.4B $309M $(41)M Quarterly Quarterly Quarterly Sales Adj. EBITDA Adj. Free Cash 13.0% of Sales Flow Use Solid Start As The New Dauch Corporation * For definitions of Adjusted EBITDA and Adjusted Free Cash Flow and other non-GAAP reconciliati
Slide 4: Business Update
Business Update Portfolio Chery / Jetour New Awards The company completed the We were awarded PTU and Awards include program sale of a former Dowlais RDM business for a extensions for front and rear subsidiary and received derivative of a current SUV axles in Brazil, PTU in Asia, ~$21M in proceeds.
Slide 5: Synergy Status
Synergy Status SOURCE OF COST SAVINGS ESTIMATE SYNERGY ACHIEVEMENT GAUGE SG&A ANNUAL RUN RATE SAVINGS • Public company and other costs YEAR 2 • Workforce optimization ~30% YEAR 1 TARGET TARGET • Streamlining ER&D expenses $180M • Elimination of duplicate offices >$100M PURCHASING • Leveraging econom
Slide 6: 2026 Financial Outlook
2026 Financial Outlook (as of May 8, 2026) 2026 Financial Targets* Other Items Current Prior • The financial outlook incorporates partial year contribution from Dowlais as of Full Year Sales $10.3 - $10.8B $10.3 - $10.7B February 3, 2026 Adjusted EBITDA $1.3 - $1.425B $1.3 - $1.4B • Based on product
Slide 7: 1Q 2026 Sales Walk (Yr/Yr)
1Q 2026 Sales Walk (Yr/Yr) $ in MM, unless noted otherwise Yr/Yr Changes of the Dowlais Contribution (Feb/March 2026 vs. Feb/March 2025): Vol, Mix, Price & Other: ~$23 Sale of business: ~($20) MM/FX: ~$40 $983 $2,379 ($11) $1,411 $44 $1,407 ($4) ($9) ($35) 1Q 2025 Sales Pricing Volume, Mix Sale of C
Slide 8: 1Q 2026 EBITDA Walk (Yr/Yr)
1Q 2026 EBITDA Walk (Yr/Yr) $ in MM, unless noted otherwise Yr/Yr Changes of the Dowlais Contribution (Feb/March 2026 vs. Feb/March 2025): Vol, Mix, Price & Other : ~$6 Sale of business: ~($3) Performance & Other: ~$4 MM/FX: ~$6 $122 $5 $309 $178 $3 $3 $4 $182 ($4) ($2) 1Q 2025 Adj Pricing Volume, M
Slide 9: Appendix / Supplemental Data
Appendix / Supplemental Data 9
Slide 10: Additional Disclosures
Additional Disclosures Non-GAAP Financial Information This presentation refers to certain financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Earnings per Share, Adjusted Free Cash Flow, Net Debt, Net Leverage Ratio and Liquidity that are not required by, or presented in
Slide 11: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures In addition to the results reported in accordance with accounting principles generally accepted in the United States of America (GAAP) included within this presentation, we have provided certain information, which includes non-GAAP financial measures. Such informa
Slide 12: Legacy Adj EBITDA to New Adj EBITDA
Legacy Adj EBITDA to New Adj EBITDA Quarter Ended March 31, June 30, September 30, December 31, Full Year Legacy Dauch - Previous Definition 2025 2025 2025 2025 2025 Net income (loss) $ 7.1 $ 39.3 $ 9.2 $ (75.3) $ (19.7) Interest expense 42.9 43.1 42.7 72.4 201.1 Income tax expense (benefit) 14.0 28
Slide 13: 1Q 2026 Pro Forma Sales Walk
1Q 2026 Pro Forma Sales Walk $ in MM, unless noted otherwise DCH:($13) DCH: ($35) DCH: $44 DWL: $41 DWL: ($29) DWL: $69 $1,399 $2,793 $28 $113 $2,870 $2,379 ($17) ($64) ($491)* $1,411 1Q25 1Q25 Pro Forma 1Q25 Volume, Mix, Sale of Metal Markets 1Q26 Dowlais Reported Sales Sales Intercompany Pro Forma
Slide 14: 1Q 2026 Pro Forma EBITDA Walk
1Q 2026 Pro Forma EBITDA Walk* $ in MM, unless noted otherwise DCH: ($1) DCH: ($2) DCH: $3 DCH: $4 DWL: $12 DWL: ($5) DWL: $14 DWL: $11 $15 $5 $382 $17 $163 $341 $11 $309 ($7) ($73) ** $178 1Q25 1Q25 1Q25 Volume, Mix, Sale of Performance Metal Markets Realized 1Q26 Dowlais Reported Adj EBITDA Pro Fo
Slide 15: Pro Forma Financial Data By Quarter
Pro Forma Financial Data By Quarter We are providing pro forma sales and Adjusted EBITDA as if the combination of Dauch and Dowlais occurred on January 1, 2025. Dowlais 1Q2025 and 1Q2026 data reflect January, February and March results. LTM 1Q 2026 pro forma Dauch 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY
Slide 16: Supplemental Data: Segment Financial Information
Supplemental Data* Segment Financial Information ($ in millions) Three Months Ended March 31, 2026 2025 Segment Sales Driveline $ 1,769.1 $ 987.0 Metal Forming 726.2 525.5 Total Sales 2,495.3 1,512.5 Intersegment Sales (116.4) (101.2) Net External Sales $ 2,378.9 $ 1,411.3 Segment Adjusted EBITDA Dr
Slide 17: Supplemental Data: EBITDA and Adjusted EBITDA Reconciliation
Supplemental Data* EBITDA and Adjusted EBITDA Reconciliation ($ in millions) Three Months Ended March 31, 2026 2025 Net income (loss) $ (100.0) $ 7.1 Interest expense 89.6 42.9 Income tax expense (benefit) (19.6) 14.0 Depreciation and amortization 181.8 112.2 EBITDA 151.8 176.2 Restructuring and acq
Slide 18: Supplemental Data: Adjusted Earnings Per Share Reconciliation
Supplemental Data* Adjusted Earnings Per Share Reconciliation Three Months Ended March 31, 2026 2025 Diluted earnings (loss) per share $ (0.52) $ 0.06 Restructuring and acquisition-related costs 0.49 0.16 Debt refinancing and redemption costs 0.01 0.03 Gain on Business Combination Derivative (0.06)
Slide 19: Supplemental Data: Free Cash Flow Reconciliation
Supplemental Data* Free Cash Flow and Adjusted Free Cash Flow Reconciliation ($ in millions) Three Months Ended March 31, 2026 2025 Net cash provided by (used in) operating activities $ (64.4) $ 55.9 Less: Capital expenditures net of proceeds from the sale of property, plant and (102.7) (68.7) equip
Slide 20: Supplemental Data: Net Debt and Pro Forma Net Leverage Ratio
Supplemental Data* Net Debt and Pro Forma Net Leverage Ratio ($ in millions) March 31, 2026 Current portion of long-term debt $ - Long-term debt, net 5,156.7 Total debt, net 5,156.7 Less: Cash and cash equivalents (1,008.2) Net debt at end of period 4,148.5 Adjusted pro forma LTM EBITDA 1,573.8 Less
Slide 21: Supplemental Data Pro Forma Adjusted EBITDA
Supplemental Data Pro Forma Adjusted EBITDA* Pro forma EBITDA and Pro forma Adjusted EBITDA Reconciliations Quarter Ended Full Year Ended Quarter Ended LTM March 31, June 30, September 30, December 31, December 31, March 31, March 31, 2025 2025 2025 2025 2025 2026 2026 Net income (loss) $ (171.2) $
Slide 22: Supplemental Data: Full Year 2026 Outlook, Adjusted EBITDA
Supplemental Data* Full Year 2026 Financial Outlook ($ in millions) Adjusted EBITDA Low End High End Net loss $ (335) $ (180) Interest expense 350 350 Income tax expense 70 40 Depreciation and amortization 825 825 Full year 2026 targeted EBITDA 910 1,035 Acquisition-related costs 65 65 Restructuring
Slide 23: Supplemental Data: Full Year 2026 Outlook, Adjusted Free Cash Flow
Supplemental Data* Full Year 2026 Financial Outlook ($ in millions) Adjusted Free Cash Flow Commentary Possible impact to 2027 Low End High End Net cash provided by operating activities $ 385 $ 410 Capital expenditures net of proceeds from the (500) (500) sale of property, plant and equipment Full y
Slide 24: Definition of Non-GAAP Measures
Definition of Non-GAAP Measures EBITDA and Adjusted EBITDA We define EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. As revised, Adjusted EBITDA is defined as EBITDA excluding the impact of restructuring and acquisition- related costs, debt refinancing and
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