Transportation Firm Daseke Beats Q3 Revenues, Cites Challenging Market Condition
Portfolio Pulse from Lekha Gupta
Daseke Inc (NASDAQ:DSKE) reported Q3 revenue of $402.3 million, beating the consensus of $398.9 million. However, Q3 revenue declined from $462.8 million the prior year due to lower owner-operator freight, brokerage, and fuel surcharge. Adjusted EBITDA stood at $50.2 million vs. $64.8 million a year ago. The company lowered its FY23 adjusted EBITDA guidance to $185 million to $190 million from $200 million to $210 million a year ago. DSKE shares are trading lower by 4.02% at $4.30.
November 09, 2023 | 5:05 pm
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Daseke Inc reported better than expected Q3 revenue but lowered its FY23 EBITDA guidance. The stock is trading lower.
Despite beating Q3 revenue estimates, Daseke's stock is trading lower due to the company lowering its FY23 EBITDA guidance. This indicates that investors are concerned about the company's future profitability.
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