Among Daseke’s recent acquisitions, flatbed provider TSH & Co., via Daseke Inc.
Daseke Inc. Flatbed Services reported a first-quarter bottom line of $800,000, or minus 4 cents per share, compared with a net loss of $7.7 million, or minus 32 cents per share, in the first quarter a year back.
The flatbed and specialized transportation carrier saw its income jump more than 100%, to $327.6 million from $160.4 million in the first quarter of 2017.
Flatbed Truck & Specialized Acquisitions
Addison, Texas-based Daseke stated the improvement in profits was due to 7 acquisitions in 2015, in addition to improvement in rates in its flatbed and specialized segments.
The flatbed truck unit saw its revenues rise 78%, to $145 million from $81.3 million. The increase was because of the purchase of TSH & Co. last December along with a 6% increase in flatbed rate per mile and 3% growth in revenue per flatbed truck. The unit’s operating income was $7 million, an 80% boost from $3.9 million.
Specialized Flatbed Truck Solutions
The specialized solutions system reported revenues rose almost 130%, to $184.9 million from $80.7 million. The dive was attributed to the acquisition of six companies in the past 12 months, along with a 5% increase in specialized rate per mile and 10% development in income per flatbed truck. Operating income for specialized was $5.1 million, up more than 400% from $1 million.
In a teleconference with analysts, CEO Don Daseke stated the business was concentrating on operational improvements, driving its organic growth and enhancing synergies among its acquisitions.
The business is seeking to acquire more business along the lines of its first-quarter purchase of Aveda Transportation and Energy Services, a North American oil well moving company based in Calgary, Alberta. The deal is anticipated to close in June.
Daseke President Scott Wheeler said…
“Aveda is a model for exactly what we are searching for, It’s a market leader in its specific niche, has strong principles, and it provides cross-selling opportunities and economies of scale.”
Aveda’s oil service organization likewise diversifies Daseke’s income stream in the energy sector that now is primarily in the wind-energy niche, Wheeler stated.
Daseke likewise is considering acquisitions in high-security flatbed freight and chances that would expand its industrial glass company.
Daseke supplied its earnings broken down by significant classifications. Freight had revenues of $240 million, almost doubling the $125.6 million in first-quarter 2017. Brokerage revenues were $46.1 million, up from $20.8 million; the new category of logistics had profits of $10.7 million; and fuel additional charge revenues more than doubled to $30.6 million from $14 million.
Large Scale Flatbed Truck Freight
The company ran 1,128 tractors at the end of the quarter, down 4.2% from 1,177 a year earlier, while the number of owner-operated tractors jumped to 1,510 from 445. At quarter’s end Daseke had 4,536 trailers.
Its flatbed trucks drove 51.4 million miles in the quarter, more than doubling the 24.6 million miles a year earlier.
Daseke acquired 7 firms in 2015 Big Freight Systems, Moore Freight Services, Roadmaster Group, R&R Trucking Holdings, Schilli Transportation Services, The Steelman Cos. and TSH & Co.
Daseke Flatbed Trucking ranks No. 42 on the Transport Topics Top 100 list of the largest for-hire providers in North America.
Flatbed & Specialized Transport Solutions
Daseke is the leading consolidator and largest flatbed and specialized transport company in North America. Our combined fleet of more than 5,200 trucks and 11,000 flat bed and specialized trailers serves 49 U.S. states along with Canada and Mexico and offers thorough services to some of the world’s most reputable major commercial shippers.
Experience In The Trucking Industry Is Important
Our people are knowledgeable and have been checked with a few of the most tough loads in the transport market. Our scale of operations, nationwide freight network and among the most modern-day and efficient flatbed truck and specialized equipment fleets in North America has been built to fulfill our customer’s special requirements. We are devoted to investing in capacity and security, but most of all, buying our people.
The Daseke operating companies senior management remains close with our clients. Each of the operating business has its own senior executive group. At the very same time, the companies regularly team up with each other to offer our consumers the very best, and most affordable truck transport and logistics options. The Daseke running company CEOs represent the inmost management group in flatbed and specialized transportation with an average of nearly thirty years of experience with their trucking companies. The operating business are often called as finest locations to work and acknowledged for their outstanding safety records.