Daseke, Inc. - DSKE STOCK NEWS

Daseke, Inc. reaffirms its fiscal 2021 guidance, projecting a likely increase in GAAP net income due to recent accounting corrections related to SPAC warrants. The company maintains its revenue forecast of $1.4 to $1.5 billion and Adjusted EBITDA ranging from $165 to $175 million. Daseke's warrants are scheduled to expire in February 2022, and any accounting adjustments will not affect operational metrics or cash flows. Their earnings results for the first quarter of 2021 will be reported on May 7, 2021.

Daseke has authorized a stock buyback program allowing the repurchase of up to 3 million shares of its common stock as part of a balanced capital allocation strategy. The buyback will be executed via open market transactions, depending on market conditions and legal requirements. This decision reflects Daseke's strong cash flow and commitment to enhancing shareholder value following a recent refinancing. Jason Bates, CFO, emphasized a focus on value creation through disciplined capital management.

Daseke has refinanced its $484 million Term Loan B due in February 2024, securing a new $400 million Term Loan B maturing in March 2028. This new loan features a lower interest rate of LIBOR + 400 basis points, down from LIBOR + 500 basis points, enhancing financial flexibility and reducing annual cash interest. The company plans to use $84 million of its cash reserves to pay down debt, targeting an estimated net debt leverage ratio of 2.7x. Moody's and S&P have upgraded Daseke's credit ratings to 'B2' and 'B', recognizing its improved financial metrics.

Daseke, Inc. (NASDAQ: DSKE) reported Q4 and full year 2020 results, concluding a transformational year with strong profitability. Q4 revenue was $335.6 million, down 17%, but net income reached $7.3 million, a significant improvement from a loss of $18.4 million a year earlier. Full year revenue was $1.5 billion, down 16%, with a net income of $6.2 million compared to a $307.4 million loss in 2019. The company expects 2021 revenue of $1.4 - $1.5 billion and Adjusted EBITDA of $165 - $175 million, emphasizing ongoing operational excellence and strategic growth.

Daseke, Inc. (NASDAQ: DSKE) announced plans to report its fiscal fourth quarter and full-year results for the period ending December 31, 2020, on January 29, 2021. The company is the largest flatbed and specialized transportation firm in North America, serving major industrial shippers with over 5,000 tractors and 11,500 trailers. A conference call discussing the financial and operational results will occur on the same day at 11:00 AM ET. Investors can access the call via webcast on the company’s website or by phone.

Daseke, Inc. (NASDAQ: DSKE) appointed Grant Garbers to its Board of Directors effective January 1, 2021, following agreements with Lyons Capital and Don Daseke, major shareholders holding approximately 5% and 28% of stock, respectively. The company also announced a stock repurchase plan to buy back at least three million shares. CEO Christopher Easter's retirement was disclosed, with Q4 2020 performance expected to align with analyst estimates. The cooperation agreements include terms for Board composition changes and will be detailed in an upcoming SEC filing.

Daseke, Inc. (NASDAQ: DSKE) announced the retirement of CEO Christopher Easter, effective December 31, 2020, with Jonathan Shepko appointed as Interim CEO. The company expects Q4 2020 operational and financial results to align with analyst expectations, projecting approximately $333.6 million in revenue and $32.7 million in Adjusted EBITDA. The Board thanked Easter for his leadership during a challenging period. Additionally, Daseke signed cooperation agreements and plans to release full financial results by the end of January 2021.

Daseke has appointed Julie Hoagland as Chief People Officer, completing its executive leadership team. With over 25 years of HR experience, Hoagland previously served at A. H. Belo Corporation and DaVita Rx, where she was recognized for significant employee growth. CEO Chris Easter emphasizes the importance of investing in people and culture to achieve a long-term operating ratio goal of 90%. Hoagland's compensation includes options for 66,600 shares at $6.89 and 45,700 performance stock units based on specific stock price hurdles.

Daseke reported strong financial results for Q3 2020, with record Operating Income and Net Income of $15.7 million ($0.22 per share). Revenue totaled $375.8 million, down 17% year-over-year, impacted by the COVID-19 pandemic. Adjusted EBITDA increased by 33% to $57.6 million, driven by operational improvements and specific market segment successes. Cash flows from operations reached $39.5 million, resulting in Free Cash Flow of $52.0 million. Daseke emphasized resilience amid demand headwinds and plans to capture market opportunities in the coming year.