Daseke sees flatbed softness continuing through first half of 2020

Mike

Well-Known Member
The nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE), expects “general industrial softness” and a “sustained weakness” in the oil and gas markets to continue through the first half of 2020. On the company’s earnings conference call, Daseke’s management team said that the market has been softer in the first quarter when compared to the fourth quarter of 2019.

When asked for specifics, management said that oil rig counts are “down hard,” but its wind-energy business has provided a substantial offset. Management said that the company’s exposure to the oil and gas markets was 13% during 2019.

When pressed on the impacts of the coronavirus, management said that the bulk of the company’s business is domestic, but that they have seen a drop in container volumes. Further, they said that one customer project that is tied to Chinese components has been delayed.


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