Daseke

Daseke’s second quarter update welcomed by investors

Lone Star Transportation, a Daseke subsidiary

Daseke Inc. (NASDAQ: DSKE) announced progress on a few key financial metrics. The company reported that it expects to be operating and free cash flow-positive and to “further strengthen” its liquidity position during the second quarter.

In a June 18 press release, the nation’s largest flatbed carrier reported volumes have improved in five of the last six weeks, rebounding from April lows. The information provided in the release was an update as of June 1.

“As the leader in the North American...

https://s29755.pcdn.co/news/dasekes-second-quarter-update-welcomed-by-investors

Daseke ratings review confirms recent downgrade

Daseke flatbed on highway

The nation’s largest flatbed carrier Daseke Inc. (NASDAQ: DSKE) had its recently lowered credit ratings confirmed by Moody’s Investors Service (Moody’s Corp. NYSE: MCO). The June 10 action by the firm confirms the company’s debt rating at B3 and changes the company’s ratings outlook, which was “under review,” to “stable.”

Daseke’s debt, default and liquidity ratings had been under review for “further downgrade” following a March 30 ratings downgrade.

According to the report, Moody’s took into...

https://s29755.pcdn.co/news/daseke-ratings-review-confirms-recent-downgrade

Daseke looks within to complete leadership changes

Rick Williams - Daseke/Central Oregon Truck Co

A couple of quarters into a multi-phased restructuring designed to streamline operations and increase profitability, Daseke Inc (NASDAQ: DSKE), the nation’s largest flatbed carrier, announced the appointment of its new chief operating officer (COO).

In a May 12 press release, Daseke announced that Rick Williams, founder and CEO of previously acquired flatbed carrier Central Oregon Truck Company, Inc. and head of Daseke’s flatbed segment, has assumed the role of executive vice president and COO.  

https://s29755.pcdn.co/news/daseke-looks-within-to-complete-leadership-changes

‘Lots of unknowns’ facing flatbed market, says Daseke

On its earnings call with analysts and investors, management from Daseke Inc. (NASDAQ: DSKE), the nation’s largest flatbed carrier, said that they see “lots of unknowns” when it comes to a rebound in demand. They said that their wind energy and infrastructure customers are doing well and noted that their clients in the automotive industry are expected to come back online soon.

“Volumes held up well” during the first 11 weeks of the first quarter, yielding to pandemic-related demand erosion in...

https://www.freightwaves.com/news/lots-of-unknowns-facing-flatbed-market-says-daseke

Daseke reports small adjusted loss, declining flatbed markets plateau in late April

flatbed rig

Flatbed carrier Daseke Inc. (NASDAQ: DSKE) announced further progress in its restructuring efforts with the planned divestiture of its oil rig transportation company, Aveda Transportation and Energy Services.

“Our management and board of directors have concluded that the Aveda business is not a long-term fit with the rest of our portfolio, and as a result, we have elected to begin the process to strategically divest this business. Following its conclusion, our Oil and Gas-related business should...

https://s29755.pcdn.co/news/daseke-reports-small-adjusted-loss-declining-flatbed-markets-plateau-in-late-april

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