Mobility (USA) Corp
Mobility (USA) Corporation, a newly formed wholly owned subsidiary of Eaton, filed its first 10-Q for the quarter ended September 30, 2026, ahead of its planned Reverse Morris Trust combination with Dana Incorporated. Q3 net sales rose 10% to $860M and net income rose 145% to $54M; nine-month net sales were $2,480M (+2%) with net income of $140M (+14%). The company has not yet engaged in business activities and holds no material assets or liabilities beyond those incident to its formation and the pending Transactions.
- Q3 net income of $54M, up 145% from $22M a year earlier.
- Q3 net sales of $860M, up 10% YoY on 8% organic growth.
- Nine-month net income of $140M, up 14% from $123M.
- Gross margin improved to 22.8% from 22.7% on favorable mix and operating efficiencies.
- SpinCo will receive a cash distribution of approximately $1.1 billion before the Transactions close.
Price data unavailable.
This is the first standalone financial disclosure for the Mobility business being spun off and merged with Dana, giving investors a baseline for the combined entity.
The carve-out financials reflect Eaton's Mobility business, which serves cyclical commercial and passenger vehicle end markets, ahead of its combination with Dana.
Historical carve-out financials rely on Eaton allocations and may not represent standalone results; completion of the Transactions depends on Dana stockholder and regulatory approvals and could be delayed or terminated.