The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst
: First one, when aggregating each of your segments, is it possible for you to quantify how we should think about content per vehicle across regions?
And where I'm getting with this question is when we look at the semiconductor shortages and supply chain disruptions, North America appears
to be one of the more impacted regions, which I would assume is one that has higher content per vehicle for you guys. So is this a fair characterization?
And would you expect to see any regional mix headwind on revenue growth in future quarters? Or is it going to be offset by the fact that mix within
regions generally continues to improve?
Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst
: Great. That's helpful. And then second question, when you look at the commentary around conversion on organic revenue, which I think excludes
the impact from raw mats. Is it possible for you to bridge for us how you get from 15% conversion in 1Q to 26% for the full year in a backdrop where
you've talked about supply chain disruptions that may linger through the course of the year? Is it just a function of lapping easier year-over-year
comps, particularly in the second quarter? Or is there something from an operational perspective that you think is going to be resolved on a relative
basis in the back half of the year?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Just back to the cadence for the year. It sounds though you have decent visibility for the second quarter. So if we just think back to your prior
guidance, right, which had a pretty even first half, first second half split for both revenue and EBITDA. Can you provide any color on how we should
be thinking about that first half, second half breakout now within your current framework?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Okay. And then can you provide -- I mean, is there any update on EV programs, the -- maybe the EV program pipeline? And then could you just
remind us, based on what you've already communicated, what programs, what are the awards are starting to ship this year, the time frame? And
then Dana's EV-related spend, is that unchanged for the year? I know that there's -- the 20 basis point impact is called out in guide. Is that a new
number? Or is that...
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Got it. And then if I could just ask one more on off-highway markets. I think in the -- in your 10-K, you talked about industry global volumes for
construction, mining, ag anywhere in the range of flat to plus 5%. And it seems as though those markets are collectively recovering more rapidly.
So is that a major component of the raised market outlook of $350 million? I think you said it's fairly evenly split across the segments. But just
wondering on off-highway because it does seems though the indicators are turning green fast?
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