Daseke Expects FY23 Adjusted EBITDA Of $185M-$190M, Lower Than Previously Guided Range Of $200M-$210M Owing To Seasonal Softening Of Challenged Rate Environment; Sees FY23 Capital Expenditures Of $155M-$160M From Prior View Of $135M-$145M
Portfolio Pulse from Benzinga Newsdesk
Daseke has revised its FY23 adjusted EBITDA forecast to $185M-$190M, down from the previous range of $200M-$210M, due to a seasonal softening of the rate environment. The company also increased its FY23 capital expenditure estimate to $155M-$160M, up from the earlier projection of $135M-$145M.
November 09, 2023 | 11:44 am
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Daseke's lowered EBITDA forecast and increased capital expenditure estimate for FY23 could potentially impact the company's stock price negatively in the short term.
Daseke's revised FY23 EBITDA forecast, which is lower than previously guided, indicates potential challenges in profitability. Additionally, the increase in capital expenditure estimate suggests higher costs, which could further pressure earnings. These factors could negatively impact investor sentiment and put downward pressure on the stock price in the short term.
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