Welcome to our dedicated page for Daseke news (Ticker: DSKE), a resource for investors and traders seeking the latest updates and insights on Daseke stock.
Daseke, Inc. (NASDAQ: DSKE) is at the forefront of North America's open deck and specialty transportation industry. As the second-largest flatbed/open deck trucking company and the 59th largest overall trucking company in North America, Daseke has established a significant presence. The company's family includes notable names like Smokey Point Distributing, E.W. Wylie, J. Grady Randolph, Central Oregon Truck Company, Lone Star Transportation, and the Boyd Companies — encompassing Boyd Bros. Transportation, WTI Transport, and Mid Seven Transportation.
Daseke offers a comprehensive range of open deck and specialty transportation services across 49 U.S. states, Canada, and Mexico. These services include truckload, partial load, expedited/team partial and truckload, over-dimensional, intermodal flat rack, and full-service logistics. With a fleet of specialized, experienced, and diverse open deck trailers, Daseke caters to a multitude of industry sectors.
The company's commitment to excellence is reflected in its recent achievements. Daseke's strategic asset-right approach has driven significant improvements in company loads, miles, and revenue. For instance, in the second quarter of 2023, Daseke reported robust cash generation, highlighting the success of its asset-right strategy.
Daseke's latest initiatives include advanced strategic capital allocation, notably a $20 million term-loan repayment, enhancing operational productivity, and successfully executing the One Daseke initiatives. These efforts have further solidified Daseke's position as a leader in the transportation industry. For those interested in the latest updates, Daseke's investor relations provide comprehensive news and developments.
For participants looking to stay informed, Daseke hosts regular conference calls and encourages stakeholders to join via listen-only modes or dial-in options. Detailed registration information is provided to ensure seamless participation in these updates.
Daseke, Inc. has announced a conference call scheduled for May 9, 2023, at 11:00 AM ET to discuss its financial and operational results for the first quarter ended March 31, 2023. Participants can join via a listen-only mode or register via a provided link for phone access. Alongside the call, presentation slides will be available on Daseke's Investor webpage. The conference call replay will also be accessible shortly after the event.
Daseke specializes in North American transportation solutions, focusing on servicing challenging industrial markets. The company is recognized for its best-in-class services to various industrial shippers across the continent. For more information on Daseke, visit their website.
Daseke, Inc. announced the appointment of Scott Hoppe as the new EVP and COO effective June 1, 2023, succeeding Rick Williams, who is retiring after 36 years in the transportation industry. Scott Hoppe, previously the President and CEO of E.W. Wylie, a Daseke subsidiary, has a strong track record in fleet growth and operational efficiency. Under his leadership, Wylie tripled its fleet size to nearly 900 trucks and achieved a significant reduction in its operating ratio. This transition aims to enhance Daseke's capabilities in specialized and flatbed trucking markets.
Daseke reported a 3.5% increase in fourth-quarter revenue, reaching $408.2 million, with a notable 10.9% growth in its Specialized Solutions segment. Net income remained stable at $6.9 million, matching $0.09 per share. The company initiated a significant share repurchase, acquiring 30% of its outstanding shares, which is expected to benefit shareholders. For the full year, total revenue hit $1.8 billion, marking a 13.9% increase. The outlook for 2023 anticipates stable revenue growth, with Adjusted EBITDA expected to remain approximately equal to 2022 levels. Liquidity stands at $264.3 million.
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