Daseke Clocks 13% Revenue Growth In Q3, Tops Consensus

Daseke Clocks 13% Revenue Growth In Q3, Tops Consensus
  • Daseke Inc DSKE reported third-quarter FY21 revenue growth of 13% year-over-year to $424.6 million, beating the consensus of $423.28 million.
  • This company attributed the year-over-year increase in revenue to record freight rates in the Flatbed segment.
  • Adjusted EPS improved to $0.43 from $0.24 in 3Q20, beating the consensus of $0.32.
  • The operating income increased by 43.8 Y/Y to $40.4 million, and the margin expanded by 204 bps to 9.5%. The Operating Ratio was 90.5%, and the Adjusted Operating Ratio was 88.7%.
  • Adjusted EBITDA improved by 18.6% Y/Y to $68.3 million, and margin expanded by 80 bps to 16.1%.
  • Daseke generated cash from operating activities year-to-date of $115.7 million, compared to $122.4 million a year ago. Free cash flow of $129.4 million.
  • Daseke had cash and cash equivalents of $143.6 million and $120.9 million available under its revolving credit facility, and net debt was $456.1 million at the end of the quarter.
  • Daseke estimates Q4 Net Capital expenditure of $21 million - $26 million.
  • Price Action: DSKE shares are trading higher by 1.74% at $10.50 during the premarket session on Friday.

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