Daseke (DSKE) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	001-37509
Entity Registrant Name	DASEKE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3913221
Entity Address, Address Line One	15455 Dallas Parkway
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	Addison
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75001
City Area Code	972
Local Phone Number	248-0412
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common shares outstanding		62,323,709
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001642453
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	DSKE
Security Exchange Name	NASDAQ
Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants, each exercisable for one half of a share of Common Stock at an exercise price of $5.75 per half share
Trading Symbol	DSKEW
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 111.7	$ 176.2
Accounts receivable, net of allowance of $2.0 at June 30, 2021 and $3.0 at December 31, 2020	189.8	154.4
Drivers' advances and other receivables	8	8
Other current assets	25.1	26.5
Total current assets	334.6	365.1
Property and equipment, net	393.8	402.7
Intangible assets, net	90.4	93.8
Goodwill	140.4	140.1
Right-of-use assets	124.5	121.1
Other non-current assets	4.4	4.1
Total assets	1,088.1	1,126.9
Current liabilities:
Accounts payable	16.2	16.5
Accrued expenses and other liabilities	53.8	35.7
Accrued payroll, benefits and related taxes	35.2	29.9
Accrued insurance and claims	19.6	23.7
Current portion of long-term debt	55.4	54
Warrant liability	4.1
Operating lease liabilities	34	30.9
Total current liabilities	218.3	190.7
Long-term debt, net of current portion	530.8	618.6
Deferred tax liabilities	80.2	70
Non-current operating lease liabilities	95.4	96
Warrant liability		6.3
Other non-current liabilities	5.4	6.5
Total liabilities	930.1	988.1
Commitments and contingencies (Note 9)
Stockholders' equity:
Series A convertible preferred stock, $0.0001 par value; 10,000,000 shares authorized; 650,000 shares issued with liquidation preference of $65.0 at March 31, 2021 and December 31, 2020	65	65
Common stock, par value $0.0001 per share; 248,482,377 shares authorized, 63,804,434 and 65,023,174 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	0	0
Additional paid-in-capital	394.9	401.6
Accumulated deficit	(302.3)	(327.8)
Accumulated other comprehensive income	0.4
Total stockholders' equity	158	138.8
Total liabilities and stockholders' equity	$ 1,088.1	$ 1,126.9

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Allowance	$ 2,000,000	$ 3
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	248,482,377	248,482,377
Common stock, issued	63,804,434	65,023,174
Common stock, outstanding	63,804,434	65,023,174
Series A convertible preferred stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	650,000	650,000
Preferred liquidation preference	$ 65	$ 65

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenue	$ 404	$ 351.7	$ 737.9	$ 742.7
Operating expenses:
Salaries, wages and employee benefits	93.4	99.4	184.1	209.8
Operations and maintenance	37.3	45.3	67.6	90.9
Communications	1.1	0.9	2.2	1.9
Administrative expenses	12.7	17.2	29.2	37.4
Sales and marketing	0.5	0.3	1.1	1
Insurance and claims	9.9	15.6	26.7	30.6
Depreciation and amortization	22.2	22.8	44.4	49.1
Gain on disposition of property and equipment	(4.6)	0.4	(7.7)	(0.8)
Impairment	0	0	0	13.4
Restructuring charges	0.1	3	0.1	3.5
Total operating expenses	358.7	339.3	684.5	738.6
Income (loss) from operations	45.3	12.4	53.4	4.1
Other expense (income):
Interest income	(0.1)	(0.1)	(0.2)	(0.4)
Interest expense	7.6	11	18.7	23
Change in fair value of warrant liability	(7.8)	(1.1)	(2.2)	(2.1)
Other	(0.4)	(1.1)	(0.8)	0.1
Total other expense	(0.7)	8.7	15.5	20.6
Income (loss) before income tax	46	3.7	37.9	(16.5)
Income tax benefit	10.7	2.1	9.9	1.8
Net loss	35.3	1.6	28	(14.7)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $0.0, $0.1, $0.0 and $(0.1), respectively	0.2	0.2	0.4	(0.3)
Comprehensive loss	(35.5)	1.8	(28.4)	(15)
Net income (loss)	35.3	1.6	28	(14.7)
Less dividends to convertible preferred stockholders	(1.3)	(1.3)	(2.5)	(2.5)
Net loss attributable to common stockholders	$ 34	$ 0.3	$ 25.5	$ (17.2)
Loss per common share:
Basic (in dollars per share)	$ 0.52	$ 0	$ 0.39	$ (0.27)
Diluted (in dollars per share)	$ 0.49	$ 0	$ 0.38	$ (0.27)
Weighted-average common shares outstanding:
Basic (in shares)	64,842,620	64,173,164	64,960,833	64,625,347
Diluted (in shares)	71,866,303	64,711,210	66,154,571	64,625,347
Dividends declared per convertible preferred share	$ 1.91	$ 1.91	$ 3.81	$ 3.81
Series A
Other comprehensive income (loss):
Less dividends to convertible preferred stockholders	$ (1.3)	$ (1.3)	$ (2.5)	$ (2.5)
Net loss attributable to common stockholders	(34)	0.3	(25.5)	(17.2)
Company freight
Revenues:
Total revenue	163.6	167	308.7	347.9
Operating expenses:
Purchased freight	155.3	112.2	276.7	246.4
Owner operator freight
Revenues:
Total revenue	129.1	96	234.2	203.8
Brokerage
Revenues:
Total revenue	66.7	57.9	115.2	119.6
Logistics
Revenues:
Total revenue	10.7	8.8	19.2	18.9
Fuel surcharge
Revenues:
Total revenue	33.9	22	60.6	52.5
Operating expenses:
Fuel	27	18.2	52.4	46.9
Service
Operating expenses:
Taxes and licenses	$ 3.8	$ 4	$ 7.7	$ 8.5

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Foreign currency translation adjustments tax expense (benefit)	$ 0	$ 0.1	$ 0	$ (0.1)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss)	Series A convertible preferred stock
Balance (in Value) at Dec. 31, 2019	$ 134.5		$ 396.9	$ (327)	$ (0.4)	$ 65
Balance (in Shares) at Dec. 31, 2019		64,589,075				650,000
Vesting of restricted stock units (in Shares)		8,950
Series A convertible preferred stock dividend	(1.2)			(1.2)
Stock-based compensation expense	0.9		0.9
Foreign currency translation adjustments	(0.5)				(0.5)
Net income (loss)	(16.3)			(16.3)
Balance (in Value) at Mar. 31, 2020	117.4		397.8	(344.5)	(0.9)	$ 65
Balance (in Shares) at Mar. 31, 2020		64,598,025				650,000
Balance (in Value) at Dec. 31, 2019	134.5		396.9	(327)	(0.4)	$ 65
Balance (in Shares) at Dec. 31, 2019		64,589,075				650,000
Foreign currency translation adjustments	(0.3)
Net income (loss)	(14.7)
Balance (in Value) at Jun. 30, 2020	118.9		398.8	(344.2)	(0.7)	$ 65
Balance (in Shares) at Jun. 30, 2020		64,727,425				650,000
Balance (in Value) at Mar. 31, 2020	117.4		397.8	(344.5)	(0.9)	$ 65
Balance (in Shares) at Mar. 31, 2020		64,598,025				650,000
Vesting of restricted stock units (in Value)	(0.1)		(0.1)
Vesting of restricted stock units (in Shares)		129,400
Series A convertible preferred stock dividend	(1.3)			(1.3)
Stock-based compensation expense	1.1		1.1
Foreign currency translation adjustments	0.2				0.2
Net income (loss)	1.6			1.6
Balance (in Value) at Jun. 30, 2020	118.9		398.8	(344.2)	(0.7)	$ 65
Balance (in Shares) at Jun. 30, 2020		64,727,425				650,000
Balance (in Value) at Dec. 31, 2020	138.8		401.6	(327.8)		$ 65
Balance (in Shares) at Dec. 31, 2020		65,023,174				650,000
Exercise of stock options (in Value)	0.6		0.6
Exercise of stock options (in shares)		149,545
Vesting of restricted stock units (in Value)	(0.8)		(0.8)
Vesting of restricted stock units (in Shares)		5,737
Series A convertible preferred stock dividend	(1.2)			(1.2)
Stock-based compensation expense	1.4		1.4
Foreign currency translation adjustments	0.2				0.2
Net income (loss)	(7.3)			(7.3)
Balance (in Value) at Mar. 31, 2021	131.7		402.8	(336.3)	0.2	$ 65
Balance (in Shares) at Mar. 31, 2021		65,178,456				650,000
Balance (in Value) at Dec. 31, 2020	138.8		401.6	(327.8)		$ 65
Balance (in Shares) at Dec. 31, 2020		65,023,174				650,000
Foreign currency translation adjustments	0.4
Net income (loss)	28
Balance (in Value) at Jun. 30, 2021	158		394.9	(302.3)	0.4	$ 65
Balance (in Shares) at Jun. 30, 2021		63,804,434				650,000
Balance (in Value) at Mar. 31, 2021	131.7		402.8	(336.3)	0.2	$ 65
Balance (in Shares) at Mar. 31, 2021		65,178,456				650,000
Vesting of restricted stock units (in Value)	(0.3)		(0.3)
Vesting of restricted stock units (in Shares)		143,601
Series A convertible preferred stock dividend	(1.3)			(1.3)
Stock repurchased and retired during period	$ (10.5)		(10.5)
Stock repurchased and retired during period (in shares)	(1,517,623)	(1,517,623)
Stock-based compensation expense			2.9
Foreign currency translation adjustments	$ 0.2				0.2
Net income (loss)	35.3			35.3
Balance (in Value) at Jun. 30, 2021	$ 158		$ 394.9	$ (302.3)	$ 0.4	$ 65
Balance (in Shares) at Jun. 30, 2021		63,804,434				650,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income (loss)	$ 28	$ (14.7)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation	40.9	45.5
Amortization of intangible assets	3.5	3.6
Amortization of deferred financing fees	1.1	2.1
Non-cash operating lease expense	(0.8)	2.7
Change in fair value of warrant liability	(2.2)	(2.1)
Write-off of deferred financing fees	1.1	0
Stock-based compensation expense	3.2	2.6
Deferred taxes	9.8	(1.8)
Bad debt (recovery) expense	(0.3)	1.3
Gain on disposition of property and equipment	(7.7)	(0.8)
Impairment	0	13.4
Changes in operating assets and liabilities
Accounts receivable	(34.8)	34
Drivers' advances and other receivables	(0.6)	(1.2)
Other current assets	1.1	(4.6)
Accounts payable	(0.3)	(2.3)
Accrued expenses and other liabilities	14.9	5.2
Net cash provided by operating activities	58.1	82.9
Cash flows from investing activities
Purchases of property and equipment	(18)	(14.9)
Proceeds from sale of property and equipment	26.6	36.4
Net cash provided by investing activities	8.6	21.5
Cash flows from financing activities:
Advances on line of credit	747.2	736.4
Repayments on line of credit	(747.2)	(738.1)
Principal payments on long-term debt	(212.4)	(39.1)
Proceeds from long-term debt	97.5	0
Payments of deferred financing fees	(3.4)	0
Repurchase common stock	10.5	0
Exercise of options	0.4	0
Net cash used in financing activities	(130.9)	(43.3)
Effect of exchange rates on cash and cash equivalents	(0.3)	0.5
Net increase (decrease) in cash and cash equivalents	(64.5)	61.6
Cash and cash equivalents - beginning of period	176.2	95.7
Cash and cash equivalents - end of period	111.7	157.3
Supplemental disclosure of cash flow information
Cash paid for interest	15.1	20.8
Cash paid for income taxes	3.4	1.3
Noncash investing and financing activities
Property and equipment acquired with debt or finance lease obligations	29.2	30
Property and equipment sold for notes receivable	0	0.1
Right-of-use assets acquired	16.5	26.8
Series A
Cash flows from financing activities:
Convertible preferred stock dividends	$ (2.5)	$ (2.5)

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Daseke, Inc.’s (the Company or Daseke) wholly-owned subsidiary Daseke Companies, Inc., was incorporated in December 2008 and began operations on January 1, 2009. Daseke is engaged in full service open-deck trucking that focuses primarily in flatbed truckload and heavy haul transportation of specialized items throughout the United States, Canada and Mexico. The Company also provides logistical planning and warehousing services to customers. The Company is subject to regulation by the Department of Transportation, the Department of Defense, the Department of Energy, and various state regulatory authorities in the United States. The Company is also subject to regulation by the Ministries of Transportation and Communications and various provincial regulatory authorities in Canada. Basis of Presentation These interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ended December 31, 2021. The consolidated balance sheet as of December 31, 2020 has been derived from the audited consolidated financial statements at that date. On May 6, 2021, the Company filed an Amended Annual Report on Form 10-K/A (Amended 10-K) in order to restate the financial statements to reflect warrants as a liability and changes in fair value recorded as non-cash income or expense. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes for the year ended December 31, 2020 as set forth in the Company’s Amended 10-K. Fair Value Measurements The Company follows the accounting guidance for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It also establishes a framework for measuring fair value and expands disclosures about fair value measurements. The three levels of the fair value framework are as follows: Level 1 – Quoted market prices in active markets for identical assets or liabilities. Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 – Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. A financial asset or liability’s classification within the framework is determined based on the lowest level of input that is significant to the fair value measurement. The Company may be required, on a non-recurring basis, to adjust the carrying value of the Company’s property and equipment, intangible assets, goodwill and contingent consideration. When necessary, these valuations are determined by the Company using Level 3 inputs. These assets are subject to fair value adjustments in certain circumstances, such as when there is evidence that impairment may exist. The Company’s warrant liabilities are included within the Level 1 and Level 3 fair value hierarchy. The fair value of the Public Warrants is determined using the closing price of the warrants on the NASDAQ market. The fair value of the Private Placement Warrants is determined using the Black-Scholes option pricing formula. The primary unobservable input utilized in determining the fair value of the Private Warrants is the expected volatility. The expected volatility was estimated considering observable Daseke public warrant pricing, Daseke’s own historical volatility and the volatility of guideline public companies. The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value (in millions): Fair value as of June 30, 2021 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 2.3 $ — $ 1.8 $ 4.1 Total fair value $ 2.3 $ — $ 1.8 $ 4.1 Fair value as of December 31, 2020 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 3.6 $ — $ 2.7 $ 6.3 Total fair value $ 3.6 $ — $ 2.7 $ 6.3 The table below is a summary of the changes in the fair value of the warrant liability within the Level 3 fair value hierarchy for the six months ended June 30, 2021 (in millions): Six Months Ended June 30, 2021 Balance at beginning of period $ 2.7 Change in fair value ( 0.9 ) Balance at end of period $ 1.8 Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06 – Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The guidance simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments also simplify the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or other assets. The amendments are effective for the Company for fiscal years beginning after December 15, 2021. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The guidance must be adopted as of the beginning of the fiscal year of adoption. ASU 2020-06 is not expected to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 – Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. ASU 2020-04 is not expected to have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019 - 12 – Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019 - 12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019 - 12 also clarifies and simplifies other aspects of the accounting for income taxes. The amendments in ASU 2019 - 12 will become effective for the Company on January 1, 2022. Early adoption is permitted, including adoption in any interim period. ASU 2019-12 is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Accounting for Credit Losses (Topic 326). ASU 2016-13 requires the use of an “expected loss” model on certain types of financial instruments. The ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets, including trade receivables. The new standard will become effective for the Company beginning with the first quarter 2023 and is not expected to have a material impact on the Company’s consolidated financial statements. Lease Income The Company leases tractors and trailers to certain of its owner-operators and accounts for these transactions as operating leases. These leases typically have terms of 30 to 72 months and are collateralized by a security interest in the related revenue equipment. The Company recognizes income for these leases as payments are received over the lease term, which are reported in purchased freight on the consolidated statements of operations and comprehensive income (loss). The Company's equipment leases may include options for the lessee to purchase the equipment at the end of the lease term or terminate the lease prior to the end of the lease term. When an asset reaches the end of its useful economic life, the Company disposes of the asset. Lease income from lease payments related to these operating leases for the three and six months ended June 30, 2021 was $ 7.0 million and $ 13.0 million, respectively. Lease income from lease payments related to these operating leases for the three and six months ended June 30, 2020 was $ 6.2 million and $ 12.4 million, respectively.

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2021
OTHER CURRENT ASSETS
OTHER CURRENT ASSETS	NOTE 2 – OTHER CURRENT ASSETS The components of other current assets are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Insurance $ 8.0 $ 12.0 Licensing, permits and tolls 5.2 4.9 Parts supplies 3.5 3.1 Highway and fuel taxes 3.4 1.1 Other prepaids 1.7 3.2 Other assets 1.7 0.6 Income tax receivable 1.6 1.6 $ 25.1 $ 26.5

INTEGRATION AND RESTRUCTURING

INTEGRATION AND RESTRUCTURING	6 Months Ended
	Jun. 30, 2021
INTEGRATION AND RESTRUCTURING
INTEGRATION AND RESTRUCTURING	NOTE 3 – INTEGRATION AND RESTRUCTURING On July 30, 2019, the Company internally announced a plan to integrate three operating segments with three other operating segments (Project Synchronize or the Plan), which reduced the number of operating segments from 16 to 13. On September 4, 2019, the Company announced a comprehensive restructuring plan (Project Pivot) intended to reduce its cost base, right size its organization and management team and increase and accelerate its previously announced operational improvement goals. The integration and restructuring costs consist of asset impairments, employee-related costs, and other transition and termination costs related to restructuring activities. Employee-related costs include severance, tax preparation, and relocation costs, which are accounted for in accordance with ASC 420 Exit or Disposal Cost Obligations . Other transition and termination costs include fixed asset-related charges, contract and lease termination costs, professional fees, and other miscellaneous expenditures associated with the integration or restructuring activities, which are expensed as incurred. Costs are reported in restructuring charges in the consolidated statements of operations and comprehensive income (loss). The obligation related to employee separation costs is included in other current liabilities in the consolidated balance sheets. During the first quarter of 2020, the Company made the decision to close certain of the Aveda terminals and wind down those operations, which was completed during the fourth quarter of 2020. As a result of the planned divestiture of Aveda, impairment charges of $ 13.4 million were recorded for the three months ended March 31, 2020 consisting of property and equipment of $ 4.0 million, right-of-use assets of $ 3.2 million and tradename intangible assets of $ 6.2 million. On March 10, 2020, the Company announced a plan to integrate three operating segments with three other operating segments (Phase II of the Plan). Phase II of the Plan was initially expected to be significantly completed by June 30, 2020, however, due to uncertainties and changes in focus caused by the COVID-19 pandemic, the Company delayed and reevaluated Phase II of the Plan and reduced the planned number of integrations from three to two operating segments. As of June 30, 2021 , one of these integrations had been completed, and the Company expects to complete the remaining integration in late 2021. The Company recorded $ 0.1 million and $ 3.0 million of integration and restructuring expenses in connection with the Plan and Project Pivot in the three months ended June 30, 2021 and 2020, respectively. The Company recorded $ 0.1 million and $ 3.5 million of integration and restructuring expenses in connection with the Plan and Project Pivot in the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021 , we have incurred a cumulative total of $ 9.8 million in integration and restructuring costs since inception of the Plan. The following table summarizes the integration and restructuring costs as of June 30, 2021 (in millions): Severance Operating and Lease Other Payroll Termination Other Total Balance at December 31, 2020 $ 0.1 $ — $ — $ 0.1 Specialized Solution Costs accrued — — 0.1 0.1 Amounts paid or charged — — ( 0.1 ) ( 0.1 ) Specialized Solution balance at June 30, 2021 — — — — Flatbed Solution Costs accrued — — — — Amounts paid or charged — — — — Flatbed Solution balance at June 30, 2021 — — — — Corporate Costs accrued — — — — Amounts paid or charged — — — — Adjustments ( 0.1 ) — ( 0.1 ) Corporate balance at June 30, 2021 ( 0.1 ) — — ( 0.1 ) Consolidated Costs accrued — — 0.1 0.1 Amounts paid or charged — — ( 0.1 ) ( 0.1 ) Adjustments ( 0.1 ) — — ( 0.1 ) Consolidated balance at June 30, 2021 $ — $ — $ — $ —

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2021
PROPERTY AND EQUIPMENT.
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT The components of property and equipment are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Revenue equipment $ 516.4 $ 546.7 Assets leased and available for lease to owner-operators 110.8 87.1 Buildings and improvements 56.4 57.0 Furniture and fixtures, office and computer equipment and vehicles 33.4 31.9 717.0 722.7 Accumulated depreciation ( 323.2 ) ( 320.0 ) Property and equipment, net $ 393.8 $ 402.7 Depreciation expense on property and equipment was $ 20.4 million and $ 21.0 million for the three months ended June 30, 2021 and 2020 , respectively. Depreciation expense on property and equipment was $ 40.9 million and $ 45.5 million for the six months ended June 30, 2021 and 2020 , respectively.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2021
ACCRUED EXPENSES AND OTHER LIABILITIES
ACCRUED EXPENSES AND OTHER LIABILITIES	NOTE 5 – ACCRUED EXPENSES AND OTHER LIABILITIES The components of accrued expenses and other liabilities are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Brokerage and escorts $ 17.1 $ 11.9 Unvouchered payables 12.8 6.1 Owner-operator deposits 10.2 7.8 Other accrued expenses 8.6 6.8 Fuel and fuel taxes 1.8 1.1 Accrued property taxes and sales taxes payable 1.7 1.5 Interest 1.6 0.5 $ 53.8 $ 35.7

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2021
LONG-TERM DEBT.
LONG-TERM DEBT	NOTE 6 – LONG-TERM DEBT Long-term debt consists of the following as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Term loan facility $ 399.0 $ 483.5 Equipment term loans 163.6 164.9 Finance leases 31.8 31.3 594.4 679.7 Less current portion ( 55.4 ) ( 54.0 ) Less unamortized debt issuance costs ( 8.2 ) ( 7.1 ) Total long-term debt $ 530.8 $ 618.6 Term Loan Facility On March 9, 2021, the Company and Daseke Companies, Inc., a wholly-owned subsidiary of the Company (the Term Loan Borrower), entered into a Refinancing Amendment (Amendment No. 3 to Term Loan Agreement) (the Term Loan Amendment) with JPMorgan Chase Bank, N.A., as successor administrative agent and collateral agent and a replacement lender, Credit Suisse AG, Cayman Islands Branch, as predecessor administrative agent and collateral agent, the other loan parties party thereto and the other financial institutions party thereto. Pursuant to the Term Loan Amendment, the Company prepaid, refinanced and replaced all of its issued and outstanding term loans under its Term Loan Facility (as defined below) in an aggregate principal amount of approximately $ 483.5 million (the Prior Term Loans) utilizing proceeds from (i) replacement term loans in aggregate principal amount of $ 400.0 million (the Replacement Term Loans) and (ii) approximately $ 83.5 million from its cash balance. The terms of the Replacement Term Loans are governed by a $ 400.0 million term loan facility (the Term Loan Facility) evidenced by a Term Loan Agreement dated as of February 27, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the Term Loan Agreement), among the Company, the Term Loan Borrower, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (the Term Loan Agent), and the other lenders from time to time party thereto with a scheduled maturity date of March 9, 2028. The Replacement Term Loans are, at the Company’s election from time to time, comprised of alternate base rate loans (an ABR Borrowing) or adjusted LIBOR loans (a Eurodollar Rate Borrowing), with the applicable margins of interest being an alternate base rate (subject to a 1.75 % floor) plus 3.00 % per annum and LIBOR (subject to a 0.75 % floor) plus 4.00 % per annum. During the three months ended June 30, 2021 and 2020 , the weighted average interest rate on the Term Loan Facility was 4.8 % and 6.0 %, respectively. During the six months ended June 30, 2021 and 2020 , the weighted average interest rate on the Term Loan Facility was 5.1 % and 6.3 %, respectively. The Term Loan Facility is secured by substantially all assets of the Company, excluding those assets collateralizing certain equipment and real estate debt and other customary exceptions. The Term Loan Facility permits voluntary prepayments of borrowings. In certain circumstances (subject to exceptions, exclusions and, in the case of excess cash flow, step-downs described below), the Company may also be required to make an offer to prepay the Replacement Term Loans if it receives proceeds as a result of certain asset sales, debt issuances, casualty or similar events of loss, or if it has excess cash flow (defined as an annual amount calculated using a customary formula based on consolidated Adjusted EBITDA, including, among other things, deductions for (i) the amount of certain voluntary prepayments of the Replacement Term Loans and (ii) the amount of certain capital expenditures, acquisitions, investments and restricted payments). The percentage of excess cash flow that must be applied as a mandatory prepayment is 50 %, 25 % or 0 % for excess cash flow periods for the year ending December 31, 2018 and beyond, depending upon the first lien leverage ratio. The Term Loan Facility contains (i) certain customary affirmative covenants that, among other things, require compliance with applicable laws, periodic financial reporting and notices of material events, payment of taxes and other obligations, maintenance of property and insurance, and provision of additional guarantees and collateral, and (ii) certain customary negative covenants that, among other things, restrict the incurrence of additional indebtedness, liens on property, sale and leaseback transactions, investments, mergers, consolidations, liquidations and dissolutions, asset sales, acquisitions, the payment of distributions, dividends, redemptions and repurchases of equity interests, transactions with affiliates, prepayments and redemptions of certain other indebtedness, burdensome agreements, holding company limitations, changes in fiscal year and modifications of organizational documents. As of June 30, 2021, the Company was in compliance with all covenants contained in the Term Loan Facility. ABL Facility The Company has a senior secured asset-based revolving line of credit (the ABL Facility) under a credit agreement (as amended, restated, supplemented or otherwise modified from time to time, the ABL Credit Agreement) with PNC Bank, National Association, as administrative agent and the lenders party thereto (the ABL Agent). On April 29, 2021, the Company, Daseke Companies, Inc., a wholly-owned subsidiary of the Company, and the Company’s other domestic subsidiaries party thereto (together with Daseke Companies, Inc., the ABL Borrowers) entered into the Fifth Amendment to Fifth Amended and Restated Revolving Credit and Security Agreement (the ABL Amendment) with the financial institutions party thereto as lenders and the ABL Agent), which amends certain terms of the ABL Credit Agreement. Principally, the ABL Amendment extended the scheduled maturity date of the ABL Facility from February 27, 2025 to April 29, 2026. The ABL Amendment also, among other things, (a) increased the Maximum Revolving Advance Amount from $ 100 million to $ 150 million, (b) provides that the Maximum Revolving Advance Amount (as defined therein) may be increased further from $ 150 million to $ 200 million (the ABL Amendment did not result in such an increase), (c) removed the ABL Borrowers’ total leverage financial covenant, which had been tested on a quarterly basis and (d) provided additional covenant flexibility in the form of increased debt, lien, investment, disposition and restricted payment baskets. The ABL Facility also provides for the issuance of letters of credit subject to certain restrictions and a sublimit of $ 40 million. As of June 30, 2021 , the Company had no borrowings, $ 23.7 million in letters of credit outstanding, and could incur approximatel y $ 119.3 million of additional indebtedness under the ABL Facility, based on current qualified collateral. At June 30, 2021 , the interest rate on the ABL Facility was 3.75 %. Margins on the ABL Facility are adjusted, if necessary, to the applicable rates set forth in the following table corresponding to the average RLOC Utilization for the trailing 12 month period on the last day of the most recently completed fiscal quarter. RLOC Utilization at a particular date shall mean an amount equal to (a)(i) outstanding amount of Revolving Advances plus (ii) the outstanding amount of the Swing Loans plus (iii) the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit, divided by (b) Maximum Revolving Advance Amount. RLOC Utilization Base Rate Margins LIBOR Rate Margins Less than 33.3% 0.50 % 1.50 % Greater than or equal to 33.3%, but less than 66.6% 0.75 % 1.75 % Greater than or equal to 66.6% 1.00 % 2.00 % The ABL Facility is secured by all of the Company’s U.S.-based accounts receivable, parts supplies, cash and cash equivalents excluding proceeds of Term Loan Facility, securities and deposit accounts and other general assets not included in the Term Loan Facility collateral. The ABL Facility contains a financial covenant such that during any period after a default or event of default or after excess availability falling below 17.5% of the maximum credit amount, continuing until such time as no default or event of default has existed and excess availability has exceeded such amounts for a period of 60 consecutive days, a financial covenant requiring the Company to maintain a minimum consolidated fixed charge coverage ratio of 1.00 x, tested on a quarterly basis. The Company’s fixed charge coverage ratio is defined as the ratio of (1) consolidated Adjusted EBITDA minus unfinanced capital expenditures, cash taxes and cash dividends or distributions, to (2) the sum of all funded debt payments for the four-quarter period then ending (with customary add-backs permitted to consolidated Adjusted EBITDA). The ABL Facility contains affirmative and negative covenants similar to those in the Term Loan Facility, together with such additional terms as are customary for a senior secured asset-based revolving credit facility. As of June 30, 2021, the Company was in compliance with all covenants contained in the ABL Facility. Equipment Term Loans and Mortgages As of June 30, 2021, the Company had term loans collateralized by equipment in the aggregate amount of $ 161.2 million with 16 lenders (Equipment Term Loans). The Equipment Term Loans bear interest at rates ranging from 2.6 % to 5.9 %, require monthly payments of principal and interest and mature at various dates through July 2027. The weighted average interest rate for the three months ended June 30, 2021 and 2020 was 3.9 % and 3.8 %, respectively. The weighted average interest rate for the six months ended June 30, 2021 and 2020 was 4.1 % and 4.4 %, respectively. Certain of the Equipment Term Loans contain conditions, covenants, representations and warranties, events of default, and indemnification provisions applicable to the Company and certain of its subsidiaries that are customary for equipment financings, including, but not limited to, limitations on the incurrence of additional debt and the prepayment of existing indebtedness, certain payments (including dividends and other distributions to persons not party to its credit facility) and transfers of assets. As of June 30, 2021 , the Company has a bank mortgage loan with a balance of $ 2.4 million incurred to finance the construction of the headquarters and terminal in Redmond, Oregon. The mortgage loan is collateralized by such property and buildings. The mortgage is payable in monthly installments of approximately $ 15,000 , including interest at 3.7 %, and a balloon payment of approximately $ 2.1 million at maturity date. The bank mortgage loan matures November 1, 2023.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
INCOME TAXES
INCOME TAXES	NOTE 7 – INCOME TAXES The effective tax rates for the three months ended June 30, 2021 and 2020 were 23.3 % and 56.8 % , respectively. The effective tax rates for the six months ended June 30, 2021 and 2020 were 26.1 % and 10.9 % , respectively. The difference between the Company’s effective tax rate and the federal statutory rate primarily results from the jurisdictional mix of earnings, combined with the unfavorable impact of nondeductible expenses, including the effect of the per diem pay structure for drivers and the change in fair value of warrant liability. State tax rates vary among states and typically range from 1 % to 6 %, although some state rates are higher and a small number of states do not impose an income tax. The effective tax rate for the three months ended June 30, 2021 differs from the effective tax rate for the same period in 2020 primarily due to the decision to use the actual effective tax rate in the first quarter of 2020 as the annual effective tax rate method did not provide a reliable estimate of the income tax benefit. The effective tax rate for the six months ended June 30, 2021 differs from the effective tax rate for the same period in 2020 primarily due to the impact of permanent differences in relation to forecasted earnings before income taxes each period. There were no changes in uncertain tax positions during the three and six months ended June 30, 2021 .

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 8 – STOCK-BASED COMPENSATION Under the 2017 Omnibus Incentive Plan (as amended from time to time, the Plan), the Company may grant awards of stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards and performance awards. On June 18, 2021, at the Company's 2021 annual meeting of stockholders, the Company’s stockholders approved an amendment and restatement (the Restatement) of the Plan. The Restatement Plan increased the number of shares that may be granted as awards thereunder by 4.0 million and extended the scheduled expiration date of the Plan from February 27, 2027 to June 18, 2031. As of June 30, 2021 , the Company has 3.2 million shares of common stock available for issuance under the Plan. Equity awards to non-directors under the Plan generally vest annually on a pro-rata basis over a three to five-year period on the anniversary of each grant date. The Company also grants equity awards to our directors under the Plan. The awards granted to directors vest ratably over periods of one to five years annually on the anniversary of each grant date. Aggregate stock-based compensation charges, net of forfeitures, were $ 0.8 million and $ 1.1 million for the three months ended June 30, 2021 and 2020 , respectively, and $ 3.2 million and $ 2.0 million for the six months ended June 30, 2021 and 2020, respectively. These expenses are included as a component of salaries, wages and employee benefits on the accompanying consolidated statements of operations and comprehensive income (loss). Stock-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized on a straight-line basis over the employees’ requisite service period. Forfeitures are recorded as a cumulative adjustment to stock-based compensation expense in the period forfeitures occur. As of June 30, 2021 , there was $ 3.2 million, $ 2.0 million, and $ 5.3 million of unrecognized stock-based compensation expense related to stock options, restricted stock units and performance stock units (PSUs), respectively. This expense will be recognized over the weighted average periods of 1.6 years for stock options, 1.1 years for restricted stock units and 1.8 years for PSUs. Stock Options The following table summarizes stock option grants: Grantee Type # of Issued and Vesting Weighted Weighted Average Director Group 150,000 75,000 5 years $ 9.98 $ 4.36 Employee Group 4,662,630 2,571,557 3 - 5 years $ 5.60 $ 3.08 Total 2,646,557 A summary of option activity as of June 30, 2021 and changes during the six months then ended are as follows: Shares Weighted Weighted Aggregate Outstanding as of January 1, 2021 3,114,931 $ 6.19 7.9 $ 5.9 Exercised ( 149,545 ) 2.96 Forfeited or expired ( 318,829 ) 6.66 Outstanding as of June 30, 2021 2,646,557 $ 6.32 7.3 $ 5.9 Exercisable as of June 30, 2021 1,539,985 $ 7.90 6.8 $ 2.0 Vested and expected to vest as of June 30, 2021 2,646,557 $ 6.32 7.3 $ 5.9 The stock options’ maximum contract term is ten years . The Company did not grant any stock options during the six months ended June 30, 2021. Restricted Stock Units Restricted stock units are nontransferable until vested. The Plan Committee (as defined in the Plan) may, in its sole discretion, grant dividend or dividend equivalents with respect to non-vested units. Prior to vesting, the grantees of restricted stock units are not entitled to vote the shares. Restricted stock unit awards typically vest in equal annual increments over the vesting period. The following table summarizes restricted stock unit grants under the Plan: Grantee Type # of Issued and Outstanding Vesting Weighted Average Grant Date Fair Value (Per Unit) Director Group 933,237 289,241 1 - 2 years $ 2.96 Employee Group 1,647,461 212,920 3 - 5 years $ 10.40 Total 502,161 A summary of restricted stock unit awards activity under the Plan as of June 30, 2021 and changes during the six months then ended are as follows: Units Weighted Non-vested as of January 1, 2021 594,801 $ 5.72 Granted 118,047 6.92 Vested ( 180,549 ) 6.35 Forfeited ( 30,138 ) 10.08 Non-vested as of June 30, 2021 502,161 $ 5.52 Performance Stock Units PSUs become eligible for vesting in shares upon the achievement of specific performance and market-based conditions and subject to final vesting based on the participant’s continued employment through the end of the requisite service periods. The grant date fair value of PSUs was determined using a Monte Carlo probability model and compensation cost is recognized ratably over the requisite service period. As of June 30, 2021 , the Company had 1,613,210 total PSUs outstanding. There are 1,495,000 PSUs in which the vesting occurs upon the achievement of specific market-based conditions based on the performance of per share price of the Company’s common stock and subject to final vesting based on the participant’s continued employment through the end of the requisite service periods. In addition, there are 118,210 PSUs in which the vestin g occurs upon the achievement of specific performance-based conditions based on the Company's financial performance over a three year performance period and modified based on the Company's Relative Total Shareholder Return and subject to final vesting based on the participant’s continued employment through the end of the requisite service periods. The amount of awards that will ultimately vest for these 118,210 PSUs can range from 0% to 200% based on the Company’s Relative Total Shareholder Return calculated over a three year period beginning January 1 of the year each grant was made. The Company currently expects that these PSUs will vest at 100% . The following inputs and assumptions were used to calculate the fair value of the PSUs for the shares granted during the six months ended June 30, 2021 : Weighted average expected life 2.5 years Risk-free interest rate 0.38 % Expected volatility 93.80 % Expected dividend yield 0.00 % A summary of performance stock unit awards activity as of June 30, 2021 and changes during the six months ended are as follows: Units Weighted Non-vested as of January 1, 2021 1,716,100 $ 1.38 Granted 118,210 7.45 Vested — — Forfeited ( 221,100 ) 6.30 Non-vested as of June 30, 2021 1,613,210 $ 2.28

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES Letters of Credit The Company had outstanding letters of credit as of June 30, 2021 totaling approximately $ 26.1 million, including those disclosed in Note 6. These letters of credit are related to liability and workers compensation insurance claims. Contingencies The Company is involved in certain claims and pending litigation arising in the normal course of business. These proceedings primarily involve claims for personal injury or property damage incurred in the transportation of freight or for personnel matters. The Company maintains liability insurance to cover liabilities arising from these matters but is responsible to pay self-insurance and deductibles on such matters up to a certain threshold before the insurance is applied.

COMMON STOCK REPURCHASE PROGRAM

COMMON STOCK REPURCHASE PROGRAM	6 Months Ended
	Jun. 30, 2021
COMMON STOCK REPURCHASE PROGRAM
COMMON STOCK REPURCHASE PROGRAM	NOTE 10 – COMMON STOCK REPURCHASE PROGRAM On March 22, 2021, the Company’s Board of Directors authorized the repurchase of up to three million shares of the Company’s common stock. Shares are effectively retired at the time of purchase. As of and during the three months ended June 30, 2021 , the Company repurchased and retired 1,517,623 shares, at an aggregate price of $ 10.5 million.

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS	6 Months Ended
	Jun. 30, 2021
REPORTABLE SEGMENTS
REPORTABLE SEGMENTS	NOTE 11 – REPORTABLE SEGMENTS The Company evaluates the performance of the reportable segments primarily based on their respective revenues and operating income. Accordingly, interest expense and other non-operating items are not reported in segment results. In addition, the Company has disclosed a corporate segment, which is not an operating segment and includes acquisition transaction expenses, corporate salaries, interest expense and other corporate administrative expenses and intersegment eliminations. The Company’s operating segments also provide transportation and related services for one another. Such services are generally billed at cost, and no profit is earned. Such intersegment revenues and expenses are eliminated in the Company’s consolidated results. Intersegment revenues and expenses for the Flatbed Solutions segment totaled $ 0.9 million and $ 1.8 million for the three months ended June 30, 2021 and 2020 , respectively. Intersegment revenues and expenses for the Specialized Solutions segment totaled $ 2.0 million and $ 4.8 million for the three months ended June 30, 2021 and 2020 , respectively. Intersegment revenues and expenses for the Flatbed Solutions segment totaled $ 1.8 million and $ 3.5 million for the six months ended June 30, 2021 and 2020 , respectively. Intersegment revenues and expenses for the Specialized Solutions segment totaled $ 4.3 million and $ 7.5 million for the six months ended June 30, 2021 and 2020, respectively. The following tables reflect certain financial data of the Company’s reportable segments for the three and six months ended June 30, 2021 and 2020 (in millions): Flatbed Specialized Solutions Solutions Corporate/ Consolidated Segment Segment Eliminations Total Three Months Ended June 30, 2021 Total revenue $ 180.9 $ 226.1 $ ( 3.0 ) $ 404.0 Company freight 47.7 118.3 ( 2.4 ) 163.6 Owner operator freight 88.9 40.7 ( 0.5 ) 129.1 Brokerage 25.3 41.5 ( 0.1 ) 66.7 Logistics 1.3 9.3 0 10.7 Fuel surcharge 17.7 16.3 ( 0.1 ) 33.9 Operating income (loss) 22.9 29.0 ( 6.6 ) 45.3 Depreciation 8.1 12.1 0.2 20.4 Amortization of intangible assets 0.8 1.0 — 1.8 Restructuring — 0.1 — 0.1 Non-cash operating lease expense ( 0.1 ) ( 0.3 ) — ( 0.4 ) Interest expense 0.9 1.3 5.4 7.6 Income (loss) before income tax 22.1 28.0 ( 4.1 ) 46.0 Capital expenditures 7.7 13.5 6.4 27.6 Three Months Ended June 30, 2020 Total revenue $ 137.2 $ 221.5 $ ( 7.0 ) $ 351.7 Company freight 48.9 121.6 ( 3.5 ) 167.0 Owner operator freight 60.1 38.3 ( 2.4 ) 96.0 Brokerage 15.5 43.1 ( 0.7 ) 57.9 Logistics 0.7 8.1 — 8.8 Fuel surcharge 12.0 10.4 ( 0.4 ) 22.0 Operating income (loss) 10.7 14.5 ( 12.8 ) 12.4 Depreciation 8.5 12.2 0.3 21.0 Amortization of intangible assets 0.8 1.0 — 1.8 Restructuring 0.2 2.8 — 3.0 Non-cash operating lease expense 1.2 ( 1.4 ) — ( 0.2 ) Interest expense 2.4 2.8 5.8 11.0 Income (loss) before income tax 8.5 12.5 ( 17.3 ) 3.7 Capital expenditures 9.2 21.4 — 30.6 Flatbed Specialized Solutions Solutions Corporate/ Consolidated Segment Segment Eliminations Total Six Months Ended June 30, 2021 Total revenue $ 334.4 $ 409.8 $ ( 6.3 ) $ 737.9 Company freight 92.4 221.1 ( 4.8 ) 308.7 Owner operator freight 159.9 75.3 ( 1.0 ) 234.2 Brokerage 47.5 68.1 ( 0.4 ) 115.2 Logistics 2.5 16.5 0.2 19.2 Fuel surcharge 32.1 28.8 ( 0.3 ) 60.6 Operating income (loss) 33.9 39.5 ( 20.0 ) 53.4 Depreciation 16.1 24.2 0.6 40.9 Amortization of intangible assets 1.5 2.0 — 3.5 Restructuring — 0.1 — 0.1 Non-cash operating lease expense ( 0.2 ) ( 0.6 ) — ( 0.8 ) Interest expense 2.6 3.4 12.7 18.7 Income (loss) before income tax 31.5 36.8 ( 30.4 ) 37.9 Capital expenditures 16.7 24.1 6.4 47.2 Six Months Ended June 30, 2020 Total revenue $ 292.4 $ 461.9 $ ( 11.6 ) $ 742.7 Company freight 100.2 253.7 ( 6.0 ) 347.9 Owner operator freight 126.3 81.0 ( 3.5 ) 203.8 Brokerage 35.0 86.0 ( 1.4 ) 119.6 Logistics 1.5 17.3 0.1 18.9 Fuel surcharge 29.4 23.9 ( 0.8 ) 52.5 Operating income (loss) 19.3 8.0 ( 23.2 ) 4.1 Depreciation 16.8 28.1 0.6 45.5 Amortization of intangible assets 1.6 2.0 — 3.6 Impairment — 13.4 — 13.4 Restructuring 0.2 3.3 — 3.5 Non-cash operating lease expense 2.1 0.6 — 2.7 Interest expense 4.9 5.9 12.2 23.0 Income (loss) before income tax 14.6 1.8 ( 32.9 ) ( 16.5 ) Capital expenditures 17.0 27.9 — 44.9

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2021
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	NOTE 12 – EARNINGS (LOSS) PER SHARE ASC Topic 260, “Earnings Per Share”, provides that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. The Company’s outstanding non-vested restricted stock units are participating securities unless there is a net loss attributable to common stockholders. Accordingly, earnings per common share are computed using the two-class method. Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the Company’s earnings. For the six months ended June 30, 2021, shares of the Company’s 7.625 % Series A Convertible Cumulative Preferred Stock (Series A Preferred Stock) were not included in the computation of diluted loss per share as their effects were anti-dilutive. For the three and six months ended June 30, 2020, shares of the Company’s 7.625 % Series A Convertible Cumulative Preferred Stock (Series A Preferred Stock) and shares of the Company’s outstanding stock options and performance share units were not included in the computation of diluted loss per share as their effects were anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended Six Months Ended June 30, June 30, (in millions, except per share data) 2021 2020 2021 2020 Numerator: Net income (loss) $ 35.3 $ 1.6 $ 28.0 $ ( 14.7 ) Less Series A preferred dividends ( 1.3 ) ( 1.3 ) ( 2.5 ) ( 2.5 ) Net income (loss) attributable to common stockholders 34.0 0.3 25.5 ( 17.2 ) Allocation of earnings to non-vested participating restricted stock units ( 0.3 ) — ( 0.2 ) — Numerator for basic EPS - income (loss) available to common stockholders - two class method $ 33.7 $ 0.3 $ 25.3 $ ( 17.2 ) Effect of dilutive securities: Add back Series A preferred dividends $ 1.3 $ — $ — $ — Add back allocation earnings to participating securities 0.3 — 0.2 — Reallocation of earnings to participating securities considering potentially dilutive securities ( 0.3 ) — ( 0.2 ) — Numerator for diluted EPS - income (loss) available to common shareholders - two class method $ 35.0 $ 0.3 $ 25.3 $ ( 17.2 ) Denominator: Denominator for basic EPS - weighted-average shares 64.8 64.2 65.0 64.6 Effect of dilutive securities: Stock options and performance share units 1.4 0.5 1.2 — Convertible preferred stock 5.7 — — — Denominator for diluted EPS - weighted-average shares 71.9 64.7 66.2 64.6 Basic earnings (loss) per share $ 0.52 $ 0.00 $ 0.39 $ ( 0.27 ) Diluted earnings (loss) per share $ 0.49 $ 0.00 $ 0.38 $ ( 0.27 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 13 – SUBSEQUENT EVENTS In July 2021, the Company repurchased and retired 1,482,377 common shares at an aggregate price of $ 9.8 million under the common stock repurchase program.

NATURE OF OPERATIONS AND SUMM_2

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations	Nature of Operations Daseke, Inc.’s (the Company or Daseke) wholly-owned subsidiary Daseke Companies, Inc., was incorporated in December 2008 and began operations on January 1, 2009. Daseke is engaged in full service open-deck trucking that focuses primarily in flatbed truckload and heavy haul transportation of specialized items throughout the United States, Canada and Mexico. The Company also provides logistical planning and warehousing services to customers. The Company is subject to regulation by the Department of Transportation, the Department of Defense, the Department of Energy, and various state regulatory authorities in the United States. The Company is also subject to regulation by the Ministries of Transportation and Communications and various provincial regulatory authorities in Canada.
Basis of Presentation	Basis of Presentation These interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ended December 31, 2021. The consolidated balance sheet as of December 31, 2020 has been derived from the audited consolidated financial statements at that date. On May 6, 2021, the Company filed an Amended Annual Report on Form 10-K/A (Amended 10-K) in order to restate the financial statements to reflect warrants as a liability and changes in fair value recorded as non-cash income or expense. For additional information, including the Company’s significant accounting policies, refer to the consolidated financial statements and related footnotes for the year ended December 31, 2020 as set forth in the Company’s Amended 10-K.
Fair Value Measurements	Fair Value Measurements The Company follows the accounting guidance for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It also establishes a framework for measuring fair value and expands disclosures about fair value measurements. The three levels of the fair value framework are as follows: Level 1 – Quoted market prices in active markets for identical assets or liabilities. Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3 – Unobservable inputs reflecting the reporting entity’s own assumptions or external inputs from inactive markets. A financial asset or liability’s classification within the framework is determined based on the lowest level of input that is significant to the fair value measurement. The Company may be required, on a non-recurring basis, to adjust the carrying value of the Company’s property and equipment, intangible assets, goodwill and contingent consideration. When necessary, these valuations are determined by the Company using Level 3 inputs. These assets are subject to fair value adjustments in certain circumstances, such as when there is evidence that impairment may exist. The Company’s warrant liabilities are included within the Level 1 and Level 3 fair value hierarchy. The fair value of the Public Warrants is determined using the closing price of the warrants on the NASDAQ market. The fair value of the Private Placement Warrants is determined using the Black-Scholes option pricing formula. The primary unobservable input utilized in determining the fair value of the Private Warrants is the expected volatility. The expected volatility was estimated considering observable Daseke public warrant pricing, Daseke’s own historical volatility and the volatility of guideline public companies. The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value (in millions): Fair value as of June 30, 2021 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 2.3 $ — $ 1.8 $ 4.1 Total fair value $ 2.3 $ — $ 1.8 $ 4.1 Fair value as of December 31, 2020 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 3.6 $ — $ 2.7 $ 6.3 Total fair value $ 3.6 $ — $ 2.7 $ 6.3 The table below is a summary of the changes in the fair value of the warrant liability within the Level 3 fair value hierarchy for the six months ended June 30, 2021 (in millions): Six Months Ended June 30, 2021 Balance at beginning of period $ 2.7 Change in fair value ( 0.9 ) Balance at end of period $ 1.8
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06 – Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The guidance simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments also simplify the guidance in ASC Subtopic 815-40, Derivatives and Hedging: Contracts in Entity’s Own Equity, by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or other assets. The amendments are effective for the Company for fiscal years beginning after December 15, 2021. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The guidance must be adopted as of the beginning of the fiscal year of adoption. ASU 2020-06 is not expected to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 – Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. ASU 2020-04 is not expected to have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019 - 12 – Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019 - 12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019 - 12 also clarifies and simplifies other aspects of the accounting for income taxes. The amendments in ASU 2019 - 12 will become effective for the Company on January 1, 2022. Early adoption is permitted, including adoption in any interim period. ASU 2019-12 is not expected to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Accounting for Credit Losses (Topic 326). ASU 2016-13 requires the use of an “expected loss” model on certain types of financial instruments. The ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets, including trade receivables. The new standard will become effective for the Company beginning with the first quarter 2023 and is not expected to have a material impact on the Company’s consolidated financial statements.
Lease Income	Lease Income The Company leases tractors and trailers to certain of its owner-operators and accounts for these transactions as operating leases. These leases typically have terms of 30 to 72 months and are collateralized by a security interest in the related revenue equipment. The Company recognizes income for these leases as payments are received over the lease term, which are reported in purchased freight on the consolidated statements of operations and comprehensive income (loss). The Company's equipment leases may include options for the lessee to purchase the equipment at the end of the lease term or terminate the lease prior to the end of the lease term. When an asset reaches the end of its useful economic life, the Company disposes of the asset. Lease income from lease payments related to these operating leases for the three and six months ended June 30, 2021 was $ 7.0 million and $ 13.0 million, respectively. Lease income from lease payments related to these operating leases for the three and six months ended June 30, 2020 was $ 6.2 million and $ 12.4 million, respectively.

NATURE OF OPERATIONS AND SUMM_3

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2021
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of fair value hierarchy the Company's assets and liabilities	The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value (in millions): Fair value as of June 30, 2021 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 2.3 $ — $ 1.8 $ 4.1 Total fair value $ 2.3 $ — $ 1.8 $ 4.1 Fair value as of December 31, 2020 Liabilities: Level 1 Level 2 Level 3 Total Warrant liability $ 3.6 $ — $ 2.7 $ 6.3 Total fair value $ 3.6 $ — $ 2.7 $ 6.3
Summary of changes in the fair value of warrant liabilities	The table below is a summary of the changes in the fair value of the warrant liability within the Level 3 fair value hierarchy for the six months ended June 30, 2021 (in millions): Six Months Ended June 30, 2021 Balance at beginning of period $ 2.7 Change in fair value ( 0.9 ) Balance at end of period $ 1.8

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
OTHER CURRENT ASSETS
Schedule of other current assets	The components of other current assets are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Insurance $ 8.0 $ 12.0 Licensing, permits and tolls 5.2 4.9 Parts supplies 3.5 3.1 Highway and fuel taxes 3.4 1.1 Other prepaids 1.7 3.2 Other assets 1.7 0.6 Income tax receivable 1.6 1.6 $ 25.1 $ 26.5

INTEGRATION AND RESTRUCTURING (

INTEGRATION AND RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2021
INTEGRATION AND RESTRUCTURING
Schedule of summary of the integration and restructuring costs	The following table summarizes the integration and restructuring costs as of June 30, 2021 (in millions): Severance Operating and Lease Other Payroll Termination Other Total Balance at December 31, 2020 $ 0.1 $ — $ — $ 0.1 Specialized Solution Costs accrued — — 0.1 0.1 Amounts paid or charged — — ( 0.1 ) ( 0.1 ) Specialized Solution balance at June 30, 2021 — — — — Flatbed Solution Costs accrued — — — — Amounts paid or charged — — — — Flatbed Solution balance at June 30, 2021 — — — — Corporate Costs accrued — — — — Amounts paid or charged — — — — Adjustments ( 0.1 ) — ( 0.1 ) Corporate balance at June 30, 2021 ( 0.1 ) — — ( 0.1 ) Consolidated Costs accrued — — 0.1 0.1 Amounts paid or charged — — ( 0.1 ) ( 0.1 ) Adjustments ( 0.1 ) — — ( 0.1 ) Consolidated balance at June 30, 2021 $ — $ — $ — $ —

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2021
PROPERTY AND EQUIPMENT.
Schedule of components of property and equipment	The components of property and equipment are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Revenue equipment $ 516.4 $ 546.7 Assets leased and available for lease to owner-operators 110.8 87.1 Buildings and improvements 56.4 57.0 Furniture and fixtures, office and computer equipment and vehicles 33.4 31.9 717.0 722.7 Accumulated depreciation ( 323.2 ) ( 320.0 ) Property and equipment, net $ 393.8 $ 402.7

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
ACCRUED EXPENSES AND OTHER LIABILITIES
Schedule of components of accrued expenses and other liabilities	The components of accrued expenses and other liabilities are as follows as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Brokerage and escorts $ 17.1 $ 11.9 Unvouchered payables 12.8 6.1 Owner-operator deposits 10.2 7.8 Other accrued expenses 8.6 6.8 Fuel and fuel taxes 1.8 1.1 Accrued property taxes and sales taxes payable 1.7 1.5 Interest 1.6 0.5 $ 53.8 $ 35.7

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
LONG-TERM DEBT.
Schedule of long term debt	Long-term debt consists of the following as of June 30, 2021 and December 31, 2020 (in millions): June 30, December 31, 2021 2020 Term loan facility $ 399.0 $ 483.5 Equipment term loans 163.6 164.9 Finance leases 31.8 31.3 594.4 679.7 Less current portion ( 55.4 ) ( 54.0 ) Less unamortized debt issuance costs ( 8.2 ) ( 7.1 ) Total long-term debt $ 530.8 $ 618.6
Schedule of adjustment for margin of line of credit and senior term loan corresponding to RLOC Utilization	RLOC Utilization Base Rate Margins LIBOR Rate Margins Less than 33.3% 0.50 % 1.50 % Greater than or equal to 33.3%, but less than 66.6% 0.75 % 1.75 % Greater than or equal to 66.6% 1.00 % 2.00 %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tabular disclosure of stock option grants under the Plan	The following table summarizes stock option grants: Grantee Type # of Issued and Vesting Weighted Weighted Average Director Group 150,000 75,000 5 years $ 9.98 $ 4.36 Employee Group 4,662,630 2,571,557 3 - 5 years $ 5.60 $ 3.08 Total 2,646,557
Schedule of summary of option activity under the Plan and changes during the period	A summary of option activity as of June 30, 2021 and changes during the six months then ended are as follows: Shares Weighted Weighted Aggregate Outstanding as of January 1, 2021 3,114,931 $ 6.19 7.9 $ 5.9 Exercised ( 149,545 ) 2.96 Forfeited or expired ( 318,829 ) 6.66 Outstanding as of June 30, 2021 2,646,557 $ 6.32 7.3 $ 5.9 Exercisable as of June 30, 2021 1,539,985 $ 7.90 6.8 $ 2.0 Vested and expected to vest as of June 30, 2021 2,646,557 $ 6.32 7.3 $ 5.9
Summary of restricted stock unit grants under the Plan	The following table summarizes restricted stock unit grants under the Plan: Grantee Type # of Issued and Outstanding Vesting Weighted Average Grant Date Fair Value (Per Unit) Director Group 933,237 289,241 1 - 2 years $ 2.96 Employee Group 1,647,461 212,920 3 - 5 years $ 10.40 Total 502,161
Summary of restricted stock awards activity under the Plan	A summary of restricted stock unit awards activity under the Plan as of June 30, 2021 and changes during the six months then ended are as follows: Units Weighted Non-vested as of January 1, 2021 594,801 $ 5.72 Granted 118,047 6.92 Vested ( 180,549 ) 6.35 Forfeited ( 30,138 ) 10.08 Non-vested as of June 30, 2021 502,161 $ 5.52
Summary of performance stock unit grants under the Plan	A summary of performance stock unit awards activity as of June 30, 2021 and changes during the six months ended are as follows: Units Weighted Non-vested as of January 1, 2021 1,716,100 $ 1.38 Granted 118,210 7.45 Vested — — Forfeited ( 221,100 ) 6.30 Non-vested as of June 30, 2021 1,613,210 $ 2.28
Performance Stock Units Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of fair value assumptions of stock option grants	The following inputs and assumptions were used to calculate the fair value of the PSUs for the shares granted during the six months ended June 30, 2021 : Weighted average expected life 2.5 years Risk-free interest rate 0.38 % Expected volatility 93.80 % Expected dividend yield 0.00 %

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
REPORTABLE SEGMENTS
Schedule of tabular disclosure of financial data of the Company's reportable segments	The following tables reflect certain financial data of the Company’s reportable segments for the three and six months ended June 30, 2021 and 2020 (in millions): Flatbed Specialized Solutions Solutions Corporate/ Consolidated Segment Segment Eliminations Total Three Months Ended June 30, 2021 Total revenue $ 180.9 $ 226.1 $ ( 3.0 ) $ 404.0 Company freight 47.7 118.3 ( 2.4 ) 163.6 Owner operator freight 88.9 40.7 ( 0.5 ) 129.1 Brokerage 25.3 41.5 ( 0.1 ) 66.7 Logistics 1.3 9.3 0 10.7 Fuel surcharge 17.7 16.3 ( 0.1 ) 33.9 Operating income (loss) 22.9 29.0 ( 6.6 ) 45.3 Depreciation 8.1 12.1 0.2 20.4 Amortization of intangible assets 0.8 1.0 — 1.8 Restructuring — 0.1 — 0.1 Non-cash operating lease expense ( 0.1 ) ( 0.3 ) — ( 0.4 ) Interest expense 0.9 1.3 5.4 7.6 Income (loss) before income tax 22.1 28.0 ( 4.1 ) 46.0 Capital expenditures 7.7 13.5 6.4 27.6 Three Months Ended June 30, 2020 Total revenue $ 137.2 $ 221.5 $ ( 7.0 ) $ 351.7 Company freight 48.9 121.6 ( 3.5 ) 167.0 Owner operator freight 60.1 38.3 ( 2.4 ) 96.0 Brokerage 15.5 43.1 ( 0.7 ) 57.9 Logistics 0.7 8.1 — 8.8 Fuel surcharge 12.0 10.4 ( 0.4 ) 22.0 Operating income (loss) 10.7 14.5 ( 12.8 ) 12.4 Depreciation 8.5 12.2 0.3 21.0 Amortization of intangible assets 0.8 1.0 — 1.8 Restructuring 0.2 2.8 — 3.0 Non-cash operating lease expense 1.2 ( 1.4 ) — ( 0.2 ) Interest expense 2.4 2.8 5.8 11.0 Income (loss) before income tax 8.5 12.5 ( 17.3 ) 3.7 Capital expenditures 9.2 21.4 — 30.6 Flatbed Specialized Solutions Solutions Corporate/ Consolidated Segment Segment Eliminations Total Six Months Ended June 30, 2021 Total revenue $ 334.4 $ 409.8 $ ( 6.3 ) $ 737.9 Company freight 92.4 221.1 ( 4.8 ) 308.7 Owner operator freight 159.9 75.3 ( 1.0 ) 234.2 Brokerage 47.5 68.1 ( 0.4 ) 115.2 Logistics 2.5 16.5 0.2 19.2 Fuel surcharge 32.1 28.8 ( 0.3 ) 60.6 Operating income (loss) 33.9 39.5 ( 20.0 ) 53.4 Depreciation 16.1 24.2 0.6 40.9 Amortization of intangible assets 1.5 2.0 — 3.5 Restructuring — 0.1 — 0.1 Non-cash operating lease expense ( 0.2 ) ( 0.6 ) — ( 0.8 ) Interest expense 2.6 3.4 12.7 18.7 Income (loss) before income tax 31.5 36.8 ( 30.4 ) 37.9 Capital expenditures 16.7 24.1 6.4 47.2 Six Months Ended June 30, 2020 Total revenue $ 292.4 $ 461.9 $ ( 11.6 ) $ 742.7 Company freight 100.2 253.7 ( 6.0 ) 347.9 Owner operator freight 126.3 81.0 ( 3.5 ) 203.8 Brokerage 35.0 86.0 ( 1.4 ) 119.6 Logistics 1.5 17.3 0.1 18.9 Fuel surcharge 29.4 23.9 ( 0.8 ) 52.5 Operating income (loss) 19.3 8.0 ( 23.2 ) 4.1 Depreciation 16.8 28.1 0.6 45.5 Amortization of intangible assets 1.6 2.0 — 3.6 Impairment — 13.4 — 13.4 Restructuring 0.2 3.3 — 3.5 Non-cash operating lease expense 2.1 0.6 — 2.7 Interest expense 4.9 5.9 12.2 23.0 Income (loss) before income tax 14.6 1.8 ( 32.9 ) ( 16.5 ) Capital expenditures 17.0 27.9 — 44.9

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
EARNINGS (LOSS) PER SHARE
Summary to reconcile basic weighted average common stock outstanding to diluted weighted average common stock outstanding	The following table sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended Six Months Ended June 30, June 30, (in millions, except per share data) 2021 2020 2021 2020 Numerator: Net income (loss) $ 35.3 $ 1.6 $ 28.0 $ ( 14.7 ) Less Series A preferred dividends ( 1.3 ) ( 1.3 ) ( 2.5 ) ( 2.5 ) Net income (loss) attributable to common stockholders 34.0 0.3 25.5 ( 17.2 ) Allocation of earnings to non-vested participating restricted stock units ( 0.3 ) — ( 0.2 ) — Numerator for basic EPS - income (loss) available to common stockholders - two class method $ 33.7 $ 0.3 $ 25.3 $ ( 17.2 ) Effect of dilutive securities: Add back Series A preferred dividends $ 1.3 $ — $ — $ — Add back allocation earnings to participating securities 0.3 — 0.2 — Reallocation of earnings to participating securities considering potentially dilutive securities ( 0.3 ) — ( 0.2 ) — Numerator for diluted EPS - income (loss) available to common shareholders - two class method $ 35.0 $ 0.3 $ 25.3 $ ( 17.2 ) Denominator: Denominator for basic EPS - weighted-average shares 64.8 64.2 65.0 64.6 Effect of dilutive securities: Stock options and performance share units 1.4 0.5 1.2 — Convertible preferred stock 5.7 — — — Denominator for diluted EPS - weighted-average shares 71.9 64.7 66.2 64.6 Basic earnings (loss) per share $ 0.52 $ 0.00 $ 0.39 $ ( 0.27 ) Diluted earnings (loss) per share $ 0.49 $ 0.00 $ 0.38 $ ( 0.27 )

NATURE OF OPERATIONS AND SUMM_4

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Liabilities
Warrant liability	$ 4.1	$ 6.3
Total fair value	4.1	6.3
Level 1
Liabilities
Warrant liability	2.3	3.6
Total fair value	2.3	3.6
Level 3
Liabilities
Warrant liability	1.8	2.7
Total fair value	$ 1.8	$ 2.7

NATURE OF OPERATIONS AND SUMM_5

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Changes in Warrant Liability (Details) - Warrant Liability $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, at beginning of period	$ 2.7
Change in fair value	(0.9)
Balance, at end of period	$ 1.8

NATURE OF OPERATIONS AND SUMM_6

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Lease Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Lease income	$ 7	$ 6.2	$ 13	$ 12.4

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
OTHER CURRENT ASSETS
Insurance	$ 8	$ 12
Licensing, permits and tolls	5.2	4.9
Parts supplies	3.5	3.1
Highway and fuel taxes	3.4	1.1
Other prepaids	1.7	3.2
Other assets	1.7	0.6
Income tax receivable	1.6	1.6
Total	$ 25.1	$ 26.5

INTEGRATION AND RESTRUCTURING_2

INTEGRATION AND RESTRUCTURING (Details) $ in Millions	Jun. 30, 2020Segment	Jun. 29, 2020Segment	Mar. 10, 2020Segment	Jul. 30, 2019Segment	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021Segment
Asset impairment charges
Impairments					$ 0	$ 0		$ 0	$ 13.4
Restructuring charges					0.1	$ 3		0.1	3.5
The Plan [Member]
Asset impairment charges
Number of Operating Segments Integrated | Segment				3
Number Of Operating Segments Absorbing Integrated Operating Segments | Segment				3
Plan And Project Pivot
Asset impairment charges
Restructuring charges					$ 0.1		$ 3	$ 0.1	$ 3.5
Phase II Plan
Asset impairment charges
Number of Operating Segments Integrated | Segment	2	3	3
Number Of Operating Segments Absorbing Integrated Operating Segments | Segment			3
Number Of Integrations Completed | Segment											1
Phase I and II Plan
Asset impairment charges
Restructuring charges										$ 9.8
Disposal group held for sale | Trade names
Asset impairment charges
Impairments							6.2
Disposal group held for sale | Right of use asset
Asset impairment charges
Impairments							3.2
Disposal group held for sale | Property and equipment
Asset impairment charges
Impairments							4
Disposal group held for sale | Aveda
Asset impairment charges
Impairments							$ 13.4

INTEGRATION AND RESTRUCTURING -

INTEGRATION AND RESTRUCTURING - Summary of Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Reserve [Roll Forward]
Costs accrued	$ 0.1	$ 3	$ 0.1	$ 3.5
Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Balance at beginning of the period			0.1
Severance and Other Payroll | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Balance at beginning of the period			0.1
Specialized | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Costs accrued			0.1
Amounts paid or charged			0.1
Specialized | Other | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Costs accrued			0.1
Amounts paid or charged			0.1
Corporate | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Adjustments			(0.1)
Balance at end of the period	0.1		0.1
Corporate | Severance and Other Payroll | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Adjustments			(0.1)
Balance at end of the period	$ 0.1		0.1
Consolidated | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Costs accrued			0.1
Amounts paid or charged			0.1
Adjustments			(0.1)
Consolidated | Severance and Other Payroll | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Adjustments			(0.1)
Consolidated | Other | Plan And Project Pivot
Restructuring Reserve [Roll Forward]
Costs accrued			0.1
Amounts paid or charged			$ 0.1

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
PROPERTY AND EQUIPMENT
Property and equipment, Gross	$ 717		$ 717		$ 722.7
Accumulated depreciation	(323.2)		(323.2)		(320)
Property and equipment, Net	393.8		393.8		402.7
Depreciation	20.4	$ 21	40.9	$ 45.5
Revenue equipment
PROPERTY AND EQUIPMENT
Property and equipment, Gross	516.4		516.4		546.7
Assets leased and available for lease to owner operators
PROPERTY AND EQUIPMENT
Property and equipment, Gross	110.8		110.8		87.1
Buildings and improvements
PROPERTY AND EQUIPMENT
Property and equipment, Gross	56.4		56.4		57
Furniture and fixtures, office and computer equipment and vehicles
PROPERTY AND EQUIPMENT
Property and equipment, Gross	33.4		33.4		$ 31.9
Property and equipment
PROPERTY AND EQUIPMENT
Depreciation	$ 20.4	$ 21	$ 40.9	$ 45.5

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
ACCRUED EXPENSES AND OTHER LIABILITIES
Brokerage and escorts	$ 17.1	$ 11.9
Other accrued expenses	8.6	6.8
Owner-operator deposits	10.2	7.8
Unvouchered payables	12.8	6.1
Taxes payable	1.7	1.5
Fuel and fuel taxes	1.8	1.1
Interest	1.6	0.5
Total	$ 53.8	$ 35.7

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Senior Debt
Long-term Debt, Gross	$ 594.4	$ 679.7
Less current portion	(55.4)	(54)
Less unamortized deferred financing costs	(8.2)	(7.1)
Long-term portion	530.8	618.6
Term loan facility
Senior Debt
Long-term Debt, Gross	399	483.5
Equipment and real estate term loans
Senior Debt
Long-term Debt, Gross	163.6	164.9
Finance leases
Senior Debt
Long-term Debt, Gross	$ 31.8	$ 31.3

LONG-TERM DEBT - Term Loan and

LONG-TERM DEBT - Term Loan and ABL Facility (Details) - USD ($) $ in Millions	Mar. 09, 2021	Aug. 31, 2017	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Apr. 29, 2021	Dec. 31, 2020
LONG-TERM DEBT
Cash and cash equivalents			$ 111.7		$ 111.7			$ 176.2
Outstanding letters of credit			$ 26.1		$ 26.1
Senior term loan
LONG-TERM DEBT
RLOC Utilization trailing period (in months)					12 months
Equipment and real estate term loans
LONG-TERM DEBT
Weighted average interest rate on term loan			3.90%	3.80%	4.10%	4.40%
Equipment and real estate term loans | Maximum
LONG-TERM DEBT
Interest rate (as a percent)			5.90%		5.90%
Equipment and real estate term loans | Minimum
LONG-TERM DEBT
Interest rate (as a percent)			2.60%		2.60%
Term loan facility
LONG-TERM DEBT
Percentage of excess cash flow, mandatory prepayment, 2018					50.00%
Percentage of excess cash flow, mandatory prepayment, 2019					25.00%
Percentage of excess cash flow, mandatory prepayment, 2020					0.00%
Refinanced amount	$ 483.5
Loan amount	400
Excess cash flow payment	$ 83.5
Term loan facility | Base Rate
LONG-TERM DEBT
Floor rate (as a percent)					1.75%
Basis spread on variable rate					3.00%
Term loan facility | LIBOR
LONG-TERM DEBT
Floor rate (as a percent)					0.75%
Basis spread on variable rate					4.00%
Term loan facility | Senior Debt
LONG-TERM DEBT
Credit facility			$ 400		$ 400
Weighted average interest rate on term loan			4.80%	6.00%	5.10%	6.30%
Revolving credit facility | PNC Bank National Association | Base Rate | Less than 33.3%
LONG-TERM DEBT
Basis spread on variable rate					0.50%
Revolving credit facility | PNC Bank National Association | Base Rate | Greater than or equal to 33.3%, but less than 66.6%
LONG-TERM DEBT
Basis spread on variable rate					0.75%
Revolving credit facility | PNC Bank National Association | Base Rate | Greater than or equal to 66.6%
LONG-TERM DEBT
Basis spread on variable rate					1.00%
Revolving credit facility | PNC Bank National Association | LIBOR | Less than 33.3%
LONG-TERM DEBT
Basis spread on variable rate					1.50%
Revolving credit facility | PNC Bank National Association | LIBOR | Greater than or equal to 33.3%, but less than 66.6%
LONG-TERM DEBT
Basis spread on variable rate					1.75%
Revolving credit facility | PNC Bank National Association | LIBOR | Greater than or equal to 66.6%
LONG-TERM DEBT
Basis spread on variable rate					2.00%
ABL Member
LONG-TERM DEBT
Number of consecutive days, a financial covenant requiring the Company to maintain a minimum consolidated fixed charge coverage ratio		60 days
Minimum consolidated fixed charge coverage ratio		1.00%
ABL Member | PNC Bank National Association
LONG-TERM DEBT
Line of credit sublimit			$ 40		$ 40
Outstanding letters of credit			0		0
Availability at closing			$ 119.3		$ 119.3
Weighted average interest rate			3.75%		3.75%
ABL Member | PNC Bank National Association | Maximum
LONG-TERM DEBT
Credit facility							$ 150
ABL Member | PNC Bank National Association | Minimum
LONG-TERM DEBT
Credit facility							100
ABL Member | Letter of credit | PNC Bank National Association
LONG-TERM DEBT
Outstanding letters of credit			$ 23.7		$ 23.7
ABL Facility Amendment | PNC Bank National Association | Maximum
LONG-TERM DEBT
Credit facility							200
ABL Facility Amendment | PNC Bank National Association | Minimum
LONG-TERM DEBT
Credit facility							$ 150

LONG-TERM DEBT - Equipment and

LONG-TERM DEBT - Equipment and Real Estate Loans (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020	Jun. 30, 2021USD ($)Lender	Jun. 30, 2020	Dec. 31, 2020USD ($)
LONG-TERM DEBT
Loan balance	$ 594.4		$ 594.4		$ 679.7
Deferred finance charges	8.2		8.2		7.1
Equipment and real estate term loans
LONG-TERM DEBT
Equipment with collateralizes term loans	$ 161.2		$ 161.2
Weighted average interest rate on term loan	3.90%	3.80%	4.10%	4.40%
Loan balance	$ 163.6		$ 163.6		$ 164.9
Number of lenders | Lender			16
Equipment and real estate term loans | Minimum
LONG-TERM DEBT
Interest rate (as a percent)	2.60%		2.60%
Equipment and real estate term loans | Maximum
LONG-TERM DEBT
Interest rate (as a percent)	5.90%		5.90%
Bank mortgage loan
LONG-TERM DEBT
Loan balance	$ 2.4		$ 2.4
Interest rate (as a percent)	3.70%		3.70%
Monthly installments			$ 15,000
Balloon payment	$ 2.1		$ 2.1

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Effective tax rate	23.30%	56.80%	26.10%	10.90%
Minimum
State tax rates			1.00%
Maximum
State tax rates			6.00%

STOCK-BASED COMPENSATION - Aggr

STOCK-BASED COMPENSATION - Aggregate (Details) - USD ($) $ in Millions	Feb. 27, 2017	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock reserved for future issuance		3,200,000		3,200,000
Share-based Payment Arrangement, Expense		$ 0.8	$ 1.1	$ 3.2	$ 2
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		3.2		$ 3.2
Weighted average period of recognition				1 year 7 months 6 days
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		3.2		$ 3.2
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		2		$ 2
Weighted average period of recognition				1 year 1 month 6 days
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		2		$ 2
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 5.3		$ 5.3
Weighted average period of recognition				1 year 9 months 18 days
PSU Outstanding (in shares)		1,613,210		1,613,210
Vesting PSU				1,495,000
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms				In addition, there are 118,210 PSUs in which the vesting occurs upon the achievement of specific performance-based conditions based on the Company's financial performance over a three year performance period and modified based on the Company's Relative Total Shareholder Return and subject to final vesting based on the participant’s continued employment through the end of the requisite service periods. The amount of awards that will ultimately vest for these 118,210 PSUs can range from 0% to 200% based on the Company’s Relative Total Shareholder Return calculated over a three year period beginning January 1 of the year each grant was made. The Company currently expects that these PSUs will vest at 100%
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 5.3		$ 5.3
2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	4,000,000
2017 Omnibus Incentive Plan | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period				10 years
PSU Outstanding (in shares)		2,646,557		2,646,557		3,114,931
2017 Omnibus Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU Outstanding (in shares)		502,161		502,161
2017 Omnibus Incentive Plan | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)				5 years
2017 Omnibus Incentive Plan | Maximum [Member] | Director Group Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)				5 years
2017 Omnibus Incentive Plan | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)				3 years
2017 Omnibus Incentive Plan | Minimum [Member] | Director Group Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)				1 year

STOCK-BASED COMPENSATION - Opti

STOCK-BASED COMPENSATION - Options (Details) - 2017 Omnibus Incentive Plan - $ / shares	Feb. 27, 2017	Jun. 30, 2021
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted	4,000,000
Maximum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)		5 years
Minimum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)		3 years
Stock Option
Stock options and restricted stock units granted under the 2017 Plan
Outstanding, at the end (in shares)		2,646,557
Stock Option | Director Group
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted		150,000
Outstanding, at the end (in shares)		75,000
Vesting Period (in years)		5 years
Weighted Average Exercise Price (in dollars per share)		$ 9.98
Weighted Average Grant Date Fair Value (in dollars)		$ 4.36
Stock Option | Employee Group
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted		4,662,630
Outstanding, at the end (in shares)		2,571,557
Weighted Average Exercise Price (in dollars per share)		$ 5.60
Weighted Average Grant Date Fair Value (in dollars)		$ 3.08
Stock Option | Employee Group | Maximum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)		5 years
Stock Option | Employee Group | Minimum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)		3 years

STOCK-BASED COMPENSATION - Op_2

STOCK-BASED COMPENSATION - Option Activity (Details) - 2017 Omnibus Incentive Plan - Stock Option - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, at the beginning (in shares)	3,114,931
Exercised (Shares)	149,545
Forfeited or expired (in shares)	318,829
Outstanding, at the end (in shares)	2,646,557	3,114,931
Exercisable at the end, Shares	1,539,985
Vested and expected to vest (in shares)	2,646,557
Weighted Average Exercise Price
Outstanding, at the beginning (in dollars per shares)	$ 6.19
Exercised (in dollars per shares)	2.96
Forfeited or expired (in dollars per shares)	6.66
Outstanding, at the end (in dollars per shares)	6.32	$ 6.19
Exercisable at the end (in dollars per shares)	7.90
Vested and expected to vest (in dollars per share)	$ 6.32
Weighted Average Renaming Contractual Terms (Years)	7 years 3 months 18 days	7 years 10 months 24 days
Exercisable at the end, Weighted Average Remaining Contractual Terms (Years)	6 years 9 months 18 days
Vested and expected to vest (in years)	7 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding, at the beginning (in dollars)	$ 5.9
Aggregate Intrinsic Value, Outstanding at the end (in dollars)	5.9	$ 5.9
Exercisable at the end, Aggregate intrinsic value (in dollars)	2
Vested and expected to vest (in dollars)	$ 5.9

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock (Details) - 2017 Omnibus Incentive Plan - $ / shares	Feb. 27, 2017	Jun. 30, 2021	Jun. 30, 2021
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted	4,000,000
Maximum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)			5 years
Minimum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)			3 years
Restricted Stock Units (RSUs)
Stock options and restricted stock units granted under the 2017 Plan
Outstanding, at the end (in shares)		502,161	502,161
Restricted Stock Units (RSUs) | Director Group
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted			933,237
Outstanding, at the end (in shares)		289,241	289,241
Weighted Average Grant Date Fair Value (in dollars)			$ 2.96
Restricted Stock Units (RSUs) | Director Group | Maximum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)			2 years
Restricted Stock Units (RSUs) | Director Group | Minimum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)			1 year
Restricted Stock Units (RSUs) | Employee Group
Stock options and restricted stock units granted under the 2017 Plan
# of Options Granted			1,647,461
Outstanding, at the end (in shares)		212,920	212,920
Weighted Average Grant Date Fair Value (in dollars)			$ 10.40
Restricted Stock Units (RSUs) | Employee Group | Maximum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)			5 years
Restricted Stock Units (RSUs) | Employee Group | Minimum
Stock options and restricted stock units granted under the 2017 Plan
Vesting Period (in years)		3 years

STOCK-BASED COMPENSATION - Re_2

STOCK-BASED COMPENSATION - Restricted stock unit award (Details) - 2017 Omnibus Incentive Plan - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at the beginning (in units) | shares	594,801
Granted (in units) | shares	118,047
Vested (in units) | shares	180,549
Forfeited (in units) | shares	30,138
Non-vested at the end (in units) | shares	502,161
Weighted Average Grant Date Fair Value (Per Unit)
Outstanding at the beginning (per unit) | $ / shares	$ 5.72
Granted (per unit) | $ / shares	6.92
Vested (per unit) | $ / shares	6.35
Forfeited (per unit) | $ / shares	10.08
Outstanding at the end (per unit) | $ / shares	$ 5.52

STOCK-BASED COMPENSATION - Perf

STOCK-BASED COMPENSATION - Performance Stock (Details) - Performance Stock Units	6 Months Ended
	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected life	2 years 6 months
Risk free interest rate	0.38%
Expected volatility	93.80%
Expected dividend yield	0.00%

STOCK-BASED COMPENSATION - Pe_2

STOCK-BASED COMPENSATION - Performance stock Unit Award Activity (Details) - 2017 Omnibus Incentive Plan - Performance Stock Units	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at the beginning (in units) | shares	1,716,100
Granted (in units) | shares	118,210
Vested (in units) | shares	0
Forfeited (in units) | shares	221,100
Non-vested at the end (in units) | shares	1,613,210
Weighted Average Grant Date Fair Value (Per Unit)
Outstanding at the beginning (per unit) | $ / shares	$ 1.38
Granted (per unit) | $ / shares	7.45
Vested (per unit) | $ / shares	0
Forfeited (per unit) | $ / shares	6.30
Outstanding at the end (per unit) | $ / shares	$ 2.28

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 30, 2021USD ($)
COMMITMENTS AND CONTINGENCIES
Outstanding letters of credit	$ 26.1

COMMON STOCK REPURCHASE PROGR_2

COMMON STOCK REPURCHASE PROGRAM (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Mar. 22, 2021
COMMON STOCK REPURCHASE PROGRAM
Stock repurchase program		3,000,000
Stock repurchased and retired during period (in shares)	1,517,623
Stock repurchased and retired during period	$ 10.5

REPORTABLE SEGMENTS (Details)

REPORTABLE SEGMENTS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	$ 404	$ 351.7	$ 737.9	$ 742.7
Operating income (loss)	45.3	12.4	53.4	4.1
Depreciation	20.4	21	40.9	45.5
Amortization of intangible assets	1.8	1.8	3.5	3.6
Impairment	0	0	0	13.4
Restructuring	0.1	3	0.1	3.5
Non-cash operating lease expense	(0.4)	(0.2)	(0.8)	2.7
Interest expense	7.6	11	18.7	23
Income (loss) before income tax	46	3.7	37.9	(16.5)
Total assets	1,088.1		1,088.1		$ 1,126.9
Capital expenditures	27.6	30.6	47.2	44.9
Company freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	163.6	167	308.7	347.9
Owner operator freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	129.1	96	234.2	203.8
Brokerage
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	66.7	57.9	115.2	119.6
Logistics
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	10.7	8.8	19.2	18.9
Fuel surcharge
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	33.9	22	60.6	52.5
Corporate/Eliminations
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	(3)	(7)	(6.3)	(11.6)
Operating income (loss)	(6.6)	12.8	(20)	(23.2)
Depreciation	0.2	0.3	0.6	0.6
Amortization of intangible assets	0	0	0	0
Impairment				0
Restructuring	0	0	0	0
Non-cash operating lease expense	0	0	0	0
Interest expense	5.4	5.8	12.7	12.2
Income (loss) before income tax	(4.1)	(17.3)	(30.4)	(32.9)
Capital expenditures	6.4	0	6.4	0
Corporate/Eliminations | Company freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	(2.4)	(3.5)	(4.8)	(6)
Corporate/Eliminations | Owner operator freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	(0.5)	(2.4)	(1)	(3.5)
Corporate/Eliminations | Brokerage
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	(0.1)	(0.7)	(0.4)	(1.4)
Corporate/Eliminations | Logistics
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	0	0	0.2	0.1
Corporate/Eliminations | Fuel surcharge
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	(0.1)	0.4	(0.3)	(0.8)
Flatbed
Segment Reporting Information, Profit (Loss) [Abstract]
Intersegment revenues and expenses	0.9	1.8	1.8	3.5
Flatbed | Consolidated
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	180.9	137.2	334.4	292.4
Operating income (loss)	22.9	10.7	33.9	19.3
Depreciation	8.1	8.5	16.1	16.8
Amortization of intangible assets	0.8	0.8	1.5	1.6
Impairment				0
Restructuring	0	0.2	0	0.2
Non-cash operating lease expense	(0.1)	1.2	0.2	(2.1)
Interest expense	0.9	2.4	2.6	4.9
Income (loss) before income tax	22.1	8.5	31.5	14.6
Capital expenditures	7.7	9.2	16.7	17
Flatbed | Consolidated | Company freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	47.7	48.9	92.4	100.2
Flatbed | Consolidated | Owner operator freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	88.9	60.1	159.9	126.3
Flatbed | Consolidated | Brokerage
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	25.3	15.5	47.5	35
Flatbed | Consolidated | Logistics
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	1.3	0.7	2.5	1.5
Flatbed | Consolidated | Fuel surcharge
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	17.7	12	32.1	29.4
Specialized
Segment Reporting Information, Profit (Loss) [Abstract]
Intersegment revenues and expenses	2	4.8	4.3	7.5
Specialized | Consolidated
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	226.1	221.5	409.8	461.9
Operating income (loss)	29	14.5	39.5	8
Depreciation	12.1	12.2	24.2	28.1
Amortization of intangible assets	1	1	2	2
Impairment				13.4
Restructuring	0.1	2.8	0.1	3.3
Non-cash operating lease expense	(0.3)	(1.4)	0.6	(0.6)
Interest expense	1.3	2.8	3.4	5.9
Income (loss) before income tax	28	12.5	36.8	1.8
Capital expenditures	13.5	21.4	24.1	27.9
Specialized | Consolidated | Company freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	118.3	121.6	221.1	253.7
Specialized | Consolidated | Owner operator freight
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	40.7	38.3	75.3	81
Specialized | Consolidated | Brokerage
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	41.5	43.1	68.1	86
Specialized | Consolidated | Logistics
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	9.3	8.1	16.5	17.3
Specialized | Consolidated | Fuel surcharge
Segment Reporting Information, Profit (Loss) [Abstract]
Total revenue	$ 16.3	$ 10.4	$ 28.8	$ 23.9

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ 35.3	$ (7.3)	$ 1.6	$ (16.3)	$ 28	$ (14.7)
Less Series A preferred dividends	(1.3)		(1.3)		(2.5)	(2.5)
Net loss attributable to common stockholders	34		0.3		25.5	(17.2)
Allocation of earnings to non-vested participating restricted stock units	(0.3)				(0.2)
Numerator for basic EPS - loss available to common stockholders - two class method	33.7		0.3		25.3	(17.2)
Numerator for diluted EPS - loss available to common shareholders - two class method	35		$ 0.3		25.3	$ (17.2)
Add back allocation earnings to participating securities	$ 0.3				0.2
Reallocation of earnings to participating securities considering potentially dilutive securities		$ (0.3)			$ (0.2)
Denominator:
Denominator for basic EPS - weighted-average shares	64,800,000		64,200,000		65,000,000	64,600,000
Denominator for diluted EPS - weighted-average shares	71,866,303		64,711,210		66,154,571	64,625,347
Basic loss per share	$ 0.52		$ 0		$ 0.39	$ (0.27)
Diluted loss per share	$ 0.49		$ 0		$ 0.38	$ (0.27)
Stock Option
Denominator:
Weighted-average shares outstanding - Equivalent	1,400,000		500,000		1,200,000
Convertible Preferred Stock
Denominator:
Weighted-average shares outstanding - Equivalent	5,700,000
Series A
Numerator:
Less Series A preferred dividends	$ (1.3)		$ (1.3)		$ (2.5)	$ (2.5)
Net loss attributable to common stockholders	(34)		$ 0.3		$ (25.5)	$ (17.2)
Add back series A preferred dividends	$ 1.3
Denominator:
Preferred stock dividend rate (as a percent)		7.625%		7.625%	7.625%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Subsequent Event [Line Items]
Common stock, issued		63,804,434		65,023,174
Repurchase common stock		$ 10.5	$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, issued	1,482,377
Repurchase common stock	$ 9.8