DSKEW - （Daseke Inc.）

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 flatbed and specialized transportation market, Daseke continues to move the industrial economy as many of the companies in the end markets we serve are essential service providers and critical components to the economy," said Daseke CEO Chris Easter. The release credited the company's ongoing restructuring , which is designed to improve operating income by $45 million annually, as a key catalyst for the improvement. The plan includes reducing tractors, trailers and headcount, as well as the consolidation of separately operated flatbed companies that Daseke had acquired in recent years.

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. Photo credit: Daseke/Central Oregon Truck Company "We are excited to announce Rick Williams' appointment to the COO role, which effectively completes Daseke's operational and financial leadership transition that started last August," said CEO Chris Easter. In February, Easter, who … Full story available on Benzinga.com

Daseke (DSKE) delivered earnings and revenue surprises of 85.71% and -0.48%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

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 late March. Management said the end markets that saw more notable declines – aerospace and automotive – began to level in the back-half of April. Overall, volumes declined approximately 15% during the downturn, excluding a segment that the company has marked for divestiture, remaining at those levels since. Many end markets that rely on flatbed trucking – oil and gas, aerospace, manufacturing and construction – have been under pressure. FreightWaves' Flatbed Outbound Tender Reject Index ( SONAR: FOTRI.USA ), a measure of carriers' willingness to accept the loads that are tendered to them by shippers under contract terms and a proxy for flatbed capacity availability, is significantly lower than prior year levels.

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 represent less than 2% of our go-forward revenues," stated CEO Chris Easter in the company's first quarter 2020 earnings release. Daseke acquired Aveda in April … Full story available on Benzinga.com

Daseke Inc. (NASDAQ: DSKE ), the nation's largest flatbed carrier announced that Jason Bates will fill its vacant chief financial officer position effective April 27. On Wednesday, truckload (TL) carrier USA Truck Inc. (NASDAQ: USAK ) said that Bates is departing to "pursue other opportunities." Zachary King, the company's corporate controller, will succeed Bates as CFO. "We are excited to welcome Jason to Daseke. Jason brings both transformational transportation experience, as well as a strong track record with one of the largest and most sophisticated companies in our industry," said Daseke CEO Chris Easter. "I am excited to be joining the team at Daseke, which is not only a highly respected niche market leader, but a company that is repositioning itself to be a best-in class organization through operational excellence," said Bates. Daseke has been looking for a CFO since September 2019 , when … Full story available on Benzinga.com

Daseke Inc. (NASDAQ: DSKE ), the nation's largest flatbed carrier announced that Jason Bates will fill its vacant chief financial officer position effective April 27. On Wednesday, truckload (TL) carrier USA Truck Inc. (NASDAQ: USAK ) said that Bates is departing to "pursue other opportunities." Zachary King, the company's corporate controller, will succeed Bates as CFO. "We are excited to welcome Jason to Daseke. Jason brings both transformational transportation experience, as well as a strong track record with one of the largest and most sophisticated companies in our industry," said Daseke CEO Chris Easter. "I am excited to be joining the team at Daseke, which is not only a highly respected niche market leader, but a company that is repositioning itself to be a best-in class organization through operational excellence," said Bates. Daseke has been looking for a CFO since September 2019 , when … Full story available on Benzinga.com