Why Daseke Stock Is Surging Today
Shares of Daseke (NASDAQ: DSKE) jumped nearly 13% by 3 p.m. EST on Monday. Driving the trucking company's rally was its fourth-quarter results and outlook for the coming year.
Daseke's revenue grew by 3.5% in Q4 to $408.2 million, which exceeded analysts' expectations by $11.1 million. Meanwhile, adjusted net income improved from $13 million, or $0.18 per share, in last year's Q4 to $15.7 million, or $0.25 per share. That blew past the analysts' consensus estimate of $0.14 per share. The company also reported improving free cash flow.
A big driver of the company's outperformance was the strength of its specialized solutions segment. Revenue grew 10.9% in Q4 to $242.9 million. The company also benefited from its share repurchase program. It bought back a whopping 30% of its stock during Q4.
Source Fool.com
