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DASEKEⓇ Daseke Reports Results for First Quarter of 2021 Improved operations positions Company to benefit from strong freight environment and industrial demand Addison , Texas May 7 , 2021 - Daseke , Inc. ( NASDAQ : DSKE ) ( " Daseke " or the " Company " ) , the largest flatbed , specialized transportation and logistics solutions company in North America , today reported financial results for the quarter ended March 31 , 2021 . First Quarter Highlights : ● ● Revenue of $ 333.9 million Net loss of $ 7.3 million , or ( $ 0.13 ) per share attributable to common stockholders , compared to net loss of $ 16.3 million in last year's first quarter Adjusted Net Income ex - Aveda was $ 4.1 million , or $ 0.04 per share attributable to common stockholders Adjusted EBITDA was $ 35.5 million Cash flows from operating activities of $ 29.5 million and Free Cash Flow of $ 34.4 million Delivered Operating Ratio ( " OR " ) of 97.6 % and Adjusted Operating Ratio of 95.6 % Successfully refinanced term loan , reducing annual cash interest and extending the maturity to 2028 and increased the ABL revolving commitment to $ 150 million Management Commentary " We are pleased to report another solid quarter of financial and operational results , as the organization continues to demonstrate the value of our diverse portfolio of customers and end - markets served by our flatbed and specialized segments , " said Jonathan Shepko , Interim Chief Executive Officer of Daseke . " Our market - leading position in the Flatbed segment positioned the business to capture the strengthening demand across the building - related complex , delivering encouraging operating results leading into our peak season . Additionally , Daseke's cash flow and margin profiles continue to show resilience , due in large part to the transformational work we have accomplished in establishing cost discipline , optimizing operations , and right - sizing our fleet . " Shepko continued , " Improvements in our business fundamentals and strong cash flows have meaningfully transformed the financial position of our Company . During the first quarter , we successfully refinanced our term loan , receiving improved credit terms that will drive an annual reduction in cash interest expense of approximately $ 11 million . Further , in support of Daseke's comprehensive operational and balance sheet restructuring , our rating agencies upgraded the Company's credit ratings . Additionally , we increased our ABL revolving commitment from $ 100 million to $ 150 million . Greater financial flexibility , combined with strong cash flow generation , better position our Company to capitalize on select growth opportunities as we look to the future . We are encouraged by the broader - based demand uplift we are observing across many of the industrial verticals wherein we have established competitive advantages , and we will continue to leverage our differentiated scale and capabilities to serve our industrial market customers , while maximizing long - term value for our shareholders . " First Quarter 2021 Financial Results Total revenue in the first quarter of 2021 decreased 15 % to $ 333.9 million , compared to $ 391.0 million in the year - ago quarter . Excluding the impact of the Aveda Transportation and Energy Services ( " Aveda " ) business to 2020 , first quarter revenue decreased by 4 % . This year - over - year decrease in revenue was driven primarily by lower freight volumes from fleet downsizing , offset by improved freight rates in the Flatbed segment . Operating income in the first quarter of 2021 was $ 8.1 million , compared to operating loss of $ 8.3 million in the year ago quarter . The increase in operating income was primarily driven by the divestiture of the Aveda business . Excluding Page 1 of 16