Daseke restructuring Archives - Maritime Shipping News

Daseke turnaround brings loan refi, interest expense reduction

10 March 2021

Interest expense savings equal more than $8 million

Flatbed truckload provider Daseke (NASDAQ: DSKE) announced Wednesday it has favorably refinanced its term loan. The transaction lowers the outstanding balance, reduces annual interest payments and extends the maturity.

The $484 million loan was paid down to $400 million with available cash on hand and the maturity has been extended by four years to March 2028. The new loan has an interest rate of LIBOR plus 400 basis points, 100 bps lower than the previous loan. The interest rate floor was also...

https://s29755.pcdn.co/news/daseke-turnaround-brings-loan-refi-interest-expense-reduction

Daseke sharpens focus; M&A in ‘crosshairs’

30 January 2021

Daseke’s (NASDAQ: DSKE) go-forward strategy will expand on its recently completed operational restructuring and include accretive acquisitions. Those plans were outlined in an interview FreightWaves had with Interim CEO Jonathan Shepko and CFO Jason Bates.

On Friday, the nation’s largest flatbed truckload provider reported fourth-quarter adjusted earnings per share of 12 cents, excluding results from a divested unit. That was better than the consensus expectation calling for a 4-cent loss and...

https://www.freightwaves.com/news/daseke-sharpens-focus-ma-in-crosshairs

Daseke beats Q4 EPS, operating results slide slightly

29 January 2021

Flatbed truckload company Daseke (NASDAQ: DSKE) saw trends moderate in the fourth quarter compared to a third-quarter blowout, which benefited from an increase in highly profitable project freight. Management cautioned investors on the third-quarter call that a fourth-quarter repeat was unlikely.

On Friday, the Addison, Texas-based company reported fourth-quarter adjusted earnings per share of 12 cents, excluding the divestiture of its energy business Aveda, which was better than the consensus...

https://www.freightwaves.com/news/daseke-beats-q4-eps-operating-results-slide-slightly

Management at Daseke discusses recent changes, acquisition plans

18 January 2021

FreightWaves had a chance to catch up with management at flatbed truckload company Daseke (NASDAQ: DSKE) following recently announced changes to the board and the resignation of its CEO Chris Easter.

Easter, who was helping navigate the company’s multi-phased turnaround, resigned effective Dec. 31 to attend to family-related obligations.

Change at the top but the path remains the same

Daseke Chairman Brian Bonner said that even though Easter will be...

https://www.freightwaves.com/news/new-daseke-management-discusses-recent-changes-acquisition-plans

Shake-up at Daseke will bring new CEO, board changes

5 January 2021

Chris Easter resigns, changes to the board announced

Flatbed truckload company Daseke (NASDAQ: DSKE) announced several changes Tuesday, including its CEO’s resignation, changes to the board and an in-line financial update.

CEO who led the corporate turnaround resigns

The press release said CEO Chris Easter retired Dec. 31 to attend to family obligations. The company has inserted current board member Jonathan Shepko, a managing partner at private equity firm Stonehollow Capital, to fill the role on an interim basis while a national search is...

https://s29755.pcdn.co/news/shake-up-at-daseke-will-bring-new-ceo-board-changes

Daseke turnaround nets ‘positive outlook’ from ratings agency

4 December 2020

Following a significant third-quarter earnings beat, flatbed carrier Daseke (NASDAQ: DSKE) has received a “positive outlook” from S&P Global Ratings (NYSE: SPGI).

Citing recent improvement in the company’s operating performance and credit profile, the ratings agency raised its outlook on Daseke from negative to positive. “The positive outlook reflects Daseke’s better-than-expected operating performance and credit metrics in 2020 and our expectation for continued improvement in 2021,” the report...

https://s29755.pcdn.co/news/daseke-turnaround-nets-positive-outlook-from-ratings-agency

Daseke turnaround evident in Q3 numbers

30 October 2020

Management from the nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE), attempted to temper the excitement around the company’s third-quarter earnings outperformance during a conference call on Friday.

The Addison, Texas-based company reported earnings per share (EPS) of 22 cents, which significantly outpaced analysts’ expectations calling for a modest loss in the period. Excluding costs related to the transformation of the b u siness, the carrier reported record adjusted EPS of 31 cents.

https://www.freightwaves.com/news/daseke-turnaround-evident-in-q3-numbers

Improved execution to ‘open doors’ for Daseke; acquisitions on horizon

18 August 2020

Daseke affiliate truck carrying tires on highway

The nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE), could see more “doors open” if it continues to succeed on its turnaround plan. An improving capital structure could lead to the resumption of acquisitions, providing the catalyst for the carrier’s next phase of growth. Of course, all of this hinges on its ability to continue to execute, according to CFO Jason Bates.

In an interview with FreightWaves, Bates said he believes a couple more quarters of improved execution will provide...

https://s29755.pcdn.co/news/improved-execution-to-open-doors-for-daseke-acquisitions-on-horizon

Daseke shares up 20%; restructuring progress seen in Q2 report

6 August 2020

Builder's Transportation, a Daseke company, flatbed rig on the highway

On its second-quarter earnings call with analysts on Thursday, August 6, management from the nation’s largest flatbed carrier Daseke Inc. (NASDAQ: DSKE) said the business is holding up well even as revenue has been challenged by the pandemic.

Volumes troughed in April, modestly improving sequentially in May and again in June. Management said July has provided more of a “a sideways movement” as demand began to plateau at the end of June. More specifically, management said flatbed capacity demand...

https://www.freightwaves.com/news/daseke-shares-up-20-restructuring-progress-seen-in-q2-report

Daseke restructuring shows in Q2 result

6 August 2020

Daseke Inc. (NASDAQ: DSKE), the nation’s largest flatbed carrier, reported second-quarter adjusted net income of $0.10 per share, significantly better than the consensus estimate calling for a $0.09 loss. The result excludes costs associated with the restructuring and transformation of the business, which is expected to improve operating income by $45 million annually.

In its August 6 earnings release, the carrier noted conditions improved throughout the quarter. “On a consolidated basis, our...

https://s29755.pcdn.co/news/daseke-restructuring-shows-in-q2-result

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