with XX, another Slide is significantly and tractors flatbed specialized XX,XXX XXXX our scale. there On We more asset X,XXX than measure way from increased grew and our trailers. to
without XXXX course, not Of its challenges. was
We and and premier opportunity analytics. system of and positions challenges, we data process the various logistics dive integration will is improvements than this to creation and growth capital mission, our provider. flat expected specialized Daseke as demand in experienced I specialized position for XXXX. and and remain Slide This created around reiterates XX growth. projects. committed ever includes contract headwinds leader my This drive environment In the several in proactive steps to to sooner later market regional did long-term and due Despite our the taken and segment North the in improve which we a remarks. response, deeper organic to large we’ve year, to our in rate lower accountability flatbed organic it to America’s into building
XX. that is The compelling mission supported by on to Slide investment highlights key Now our six opportunity. strongly shape
our XXXX owner in XXXX from surface open to we market. acquisition through logistics America of industrial CAGR uptick mandates of later as share flatbed of North seeking have XXXX. sequential more, December billion But acquire flatbed Even X% robust growth, we in this ELD recent went XXXX. a the an and effect our XXXX. potential size, approximate our still The factoring adjusted billion in pool are rates through fundamentals I current a our and And deck $X.X in contains walk we with adjusted the remarks. into of of delivered companies improving the have that throughout scratched $XXX market acquisition market three At improving will transportation penetration. tops to XX% spot are only First, freight we logistics and and in the the the for of equipment acquisitions the specialized are adjusted largest with revenue in in we and
Don, the largest have team Finally, been and shareholder, in our ability never behalf than more scale and prospects In have company transportation we on XXXX that market. our our speaking affirmed aligned drive on and management flatbed summary, framed opportunity to specialized owns and the XX% highly them stronger. behalf of our fragmented of of
We are a off ground that customers can and share improve capacity much stave up. increases, our quality larger that practices further cost with organization organization support from the
strategic our outlook this year in strategy. while highly as long-term for expect another our organic will to Our to we XXXX as growth, our pleased strategy. in XXXX. very be by in pivotal acquisition maximize outstanding initiatives to supported be accomplishments XXXX in Indeed, I am optimistic still well pursuit being morning XXXX the discuss foretold of priorities our
a XXXX significant at Now was looking XX, year. Slide
the transactions, the grew services of became America fastest we strong now companies of are sector. was operations, scale North seven which in value acquisitions, in a open-deck and successful and delivered in We EBITDA. both equity provider the capital significantly public, industrial grew revenues increase our and closed largest freight year XXXX growing have one the transportation a of
the million you quarter the and increase increased quarter. for of Revenues quarter previous Now we’re the and – for scale during the fourth driven ago income year completed with year’s of third guidance XX% communicated was XXXX. to the beginning consistent in The Net quarter. acquisitions will financials; full Slide the $XXX.X our on seven XXXX to our with by result we compared the loss compared tax results one-time $XX.X or liabilities we benefits see a enactment of net the million, as to Tax result the Cuts This on December change rate year federal tax XX% share Jobs $X.XX of of XX% the the per was for or to full due $XX.X a primarily XXXX of net per XXXX. on change Act and is million, XX, from share, tax deferred in to $X.XX XXXX. XX,
$XX Excluding or million, $XX.X for was to our fourth million. year provided million These the most share. acquisitions the been Adjusted per adjustment, to quarter impact $X.XX by of had EBITDA consistent net tax income would $XX.X EBITDA largely we related to numbers EBITDA increase XX% recent XXXX have increased with the in what from XXXX compared loss were the of on full investor calls. driven The XXXX. adjusted
by some specific onto Now segment. commentary
our seasonality and is in the As a open-deck lower typically is levels and and see the reminder, quarters. in elements the in freight, third and demand business. rates, quarters, and to higher freight and the of is in as months such, revenues on warmer exposed earnings our you fourth higher will We levels Slide first XX, till typically there moved second
the our demonstrate by years. two in see Slide XXXX. percentage flatbed by clearly in On segment approximate you Here, the solution EBITDA we can last EBITDA for of the XX, more quarter quarter
in had upward by mile in the mile, by rate acquisitions continues in from per little and quarter EBITDA million one $X.XX XXXX grew quarter. XXXX in quarter, an acquisition Slide quarter third fourth with succeeding very to had with per quarter that from in of rates, to $XXX,XXX segment $X.XX contributions approximately only approximately our impact flatbed including hurricane-affected excluding segment surcharge. The in XX, an show approximately mile organic each XXXX strong of XX% On fuel up quarter first Overall, The X% first was fourth showed Flatbed per increases growth the below December. approximately of XXXX $X from trend of the flatbed X%.
also the and strong tractor basis. from per growth rate revenue environment tractor, revenue to fourth characteristics, $XXX,XXX quarter-over-quarter fourth comparing similar when of XXXX This demonstrates quarter, to a had the increasing per flatbed on of seasonally slide per rate and Our quarter showing $XXX,XXX XXXX. quarter very growth a
flatbed upward demonstrating segment. see we in We have continue specialized segment. On to we solutions feel in XX, quarter Slide similar positive continue about our by the trends our the EBITDA a to chart
segment the the quarter, of down including first specialized remainder the – hurricane-affected remainder segment; essentially was flatbed our significantly the to third but the year the quarter. in flat analogous for year We’re of
to The quarter compared decline first flat rest year. quarter-over-quarter the performance the $X.X of had followed quarter first of XXXX million the a for by
may for of quarter first and XXXX year from standpoint that know, XXXX you As freight to super through an due pricing heavy over-dimensional the continued haul freight a was exceptional environment the end the XXXX finalization of to the slowed and refining. flattened related energy later throughout then renewable higher in in revenue projects level at per reduced XXXX. freight markets These multiple mile and
rate this and we as in saw such materials end markets shift lower but mile, base. towards also lumbar. serve These strong a volumes a carry During per client time, the markets building
our freight Daseke were at excellent an niche volatility flat, relatively belief be always the adjusted rising end or the XXXX, example this our markets and falling in of As the EBITDA the specialized really that markets time. as direction end same served segment producing remained course various is diversification same through the the of that in for Daseke’s by
of an increase of the XXXX, in came $X.X $XX.X So via showed acquisitions. million segment while million specialized that
XX, our specialized on in transaction segment. can Slide you see the Now
the segment, we such would the manufacturing year, in leading past have given index faster the in this indicate. anticipating the economy indicators trends as Over much recovery ISM industrial been as
Slide platform We technology, over higher staffing, that can and our professional margins capital you growth see Daseke we large-scale in in XXXX, optimistic the XX, value and that over-dimensional expenditure costs. and continue of increases XXXX result in company result investment to freight and in continued will projects On this building a with company other opportunity. higher public feel were effects a private costs; for in continued the fees,
on In basis. both absolute per and year addition, an for participant we also had the higher health dollar on cost basis claims a
December we the equivalents available XXXX, on cash of million Now, XX borrowing had of $XX.X those yet credit, Slide million base reflects revolving turning At at The acquisitions. our December related usage $XX on sheet not the million. short-term which had balance and XX. assets XX, $XX to line We of to our did include acquisitions. cash December
$XXX million after expect from acquisitions borrowing Total debt closed that We revolver the February was XX, to the adding of offering have base. generated the an XXXX, million. full was net we to oversubscribed On proceeds $XX million. the public collateral net debt equity availability of and $XXX
of offering approximately $XXX less sheet which the ratio net an our we conditions approximately balance ideal and market would and those interest times. the us market and XX/XX fundamental further the taken of we of believe we of are Despite and of scale, is uniquely still cash, tenets offering, take share. the show was than million, result steps tenet million ability shareholders. our to debt leverage long-term equity Daseke’s date and took $XXX believe value in you to proceeds, If X.X financial best at in applied would time Acquisitions in operational stock net the the to positions of build
We of our have transactions ago, a pipeline year M&A is in despite a in XXXX. robust on to closing roughly seven pipeline that opportunities of number equivalent meaningful
against only still in of X% we fragmented opportunities We specialized to the market, and The have believe that share. was continue market stakeholders that cost deploy weighed was benefits prudently we interest of the a capital flatbed a in proceed it attractive to hold where to opportunity was in that decision. the available and capital determined demonstrable of our evaluated carefully it delay best having
Our be opportunities will meaningful prospect. value as equity future the a of creation long-term approach acquisitions evaluated of to availability growth attractive offerings upon based
would team our be the on owns our capital. than of our with shareholders interest stock, were management and we aligned more our who to of believe Speaking of expect behalf stewards prudent XX%
to Now Closing one-year perspective. XXXX, on financial there and took on both February were becoming transaction this reflect and company believe that XX XXXX period, to operational the our discuss was like accomplishments we anniversary is as Slide enable and scale you greater truckload I’d significant the to the in the of public. today larger carrier speak to diversification. much open-deck XXth largest largest U.S. what place increased carrier with a to us and from
a our important employees, outlook. shape operating team us taught and it support. XXXX companies to built reflects thank and have But great their We shareholders and this of to also lessons priorities for
will we scale, controlling highly leveraging XXXX of growing we level have main will now in division operating measures much and a Daseke’s focus move topic increase quality to on for significant six our fall as presidents. To we structure personal performance organizational acquisitions. leadership of accountability. long-tenured, our of into address will priorities effectiveness, operational effectiveness, structure increase These organic three I Our continued and operational categories: growth XX. Slide created The experts with with industry leaders of each initiatives managing upside communications, the stock. the regarded of our streamline new higher and implementation are and speed a new and Together, will business. deliver our regional cost
will Daseke is anticipate a game this time over While great we as evolves. this structure change
to Moving XX. Slide
through As XXXX new the and effectiveness focus our and I stated be mergers our on achieved processes systems. are and earlier, acquisitions. organic continued effectiveness, Operational evolution growth operational strategic our structure continuing can and of organizational priorities
it makes We will where integrate consolidate sense and go. to
to adding can also are fashion. in systems continue and we the We improving and leadership, our orderly company an processes the so scale appropriate
several and frankly to Organic our seeing than but and in we not the second essentially where steps quarter to grade due our companies data systems consolidate being and customized from of outsized our in flatbed to still software freight flat software Also of as one levels solid capture of come including is addressed and speed As cooperate growing demand. we’re vast rate flatbed, our growth expected the cloud consolidating operating the is the specialized, including ways organic acquisition close. to business to be profile growth and taking forward The are analytics, sector particularly majority upgraded improve due integration in users evolving increases lower will continuing contracts our diligence XXXX mentioned, in environment. was system acceptable. upper
a what have and purchasing also developing controlling we are will effort and procurement stronger hope programs. in best-in-class costs the We
focus be We sales investing will growth be the and also on effectiveness. market where capital niches, maximizing can we for in and our strategic technology leader
entered and reports array of own to customer pleased This supported technology. of into report a a interface be quality, our of the the requiring configurations. XPL recently services produces very with system. We backbone we Daseke reporting access EDI industrial being contract to operations capacity capacity. customer freight friendly wide trailer open-deck a services with by satisfied that the and the had our We’re to This provide seamless salesman launched management major data have single-source interchange products, customer complex a or to customized and
evolve We brokerage recruiting our continue the network to global that of request were orders throughout thus always is unfilled Driver operations. Daseke the our visibility retention and our our customized national to focus. to technology for enhancing – top list response of proposals the stronger
in XX%, still has While needed improvements area. approximately have our we turnover by this improved
initiatives As to quality such, to attract and several in X started continue the past drivers. months we retain
first the by driver is how a what are paid In levelings. pay we and issue much how they cases, leading choppy unpredictable is mile, or paid is driver but The they the paycheck. are refer a some to much is paid potentially Historically, as been a has not to when paid.
have experimented driver. annual Over earn company with them for giving dollars cycles the the calculate the greater quarters, productivity while pay last both personal in and opportunity smooths regions more we and works This different approaches to X different safety that levels. their the to out through level paycheck
to of this effective calls. on view appropriate. as these report do of year company continue the We to most increases disseminate across future the market foresee We be and will driver the working our we’ll pay
national of companies the X to we specific purchased niche. in Daseke.com, division disseminate this consolidation utilize February, X.X will location. that the during leads version integration of in the process we Furthermore, launched scale to operating are on focused highly or half to second are our of Drive driver and XXXX operate the us Daseke’s full a advertising most have through ability the the platform Secondly, allow of and
to we synergies increased organic of as both expect result opportunities as that growth and cost see result, a as revenue combination. a As well
also acquisitions, focused will mergers transactions in continue strategy our expect to We we of and through three to grow continue and main areas. specialized and flatbed
First, we continue the will in market. scale grow look flatbed to to
margins, generate to niches, specific look we either add leaders do higher become strategic or we can Secondly, market where both. the
the excellent and XXXX Our entrance glass are commercial markets in high-security examples. into cargo
seek Finally, did companies Smokey to in by moving highly glass accretive company our to commercial existing adding point operation small tuck-ins we our we XXXX. a will as
ISM through leads historically environment. a into and industry our financial our of favorable an indicator the As went dynamics Slide December these are XX.X. initiatives base. best leading as half XXXX. in as for first supported been combination This good a sequential This demand been our XX, capacity shown has believe at uptick as XXXX XXXX on effect bodes business and it renewed are me to the outlook index of strategic spot these We was XXXX. to have improving ELD well the There February of In we strong has by These rates flatbed remains mandate as XXXX. constrained. customer Manufacturing tailwinds expectations in play in supply represents contracts our and
grow As to to Slide $XXX.X to $X.XX million not incremental This acquisition. assume expect compared billion revenues estimate indicates, any approximately we XX does XXXX. in
several level capital of CapEx This that XXXX. capital XXXX. to is XXXX million, grow in needs to between compared which million EBITDA $XX ago $XX to to expenditures range growth to $XX a in compared total to to peak years replaced expenditures Capital in and $XX.X expenditures million million expect $XX.X million $XXX are expenditure $XXX million $XX in adjusted increase in in replacement million XXXX. capital be includes to and in We million expected approximately due
accomplished today’s focused move Now much XXXX raise. Slide equity new was new and scale X AGC. this successful to excellent We commercial please enabled scale joined Daseke. end along takeaways a of markets top the reiterate on XX. Department by with glass, added XX companies of gaining had goal. customers, and seven This and very We discussion, high-security to was cargo Defense of of adding key we the
common end, growth alignment. To dedicated headwinds team organic that However, staffed implemented with shapes have we we of processes accountable and had and in our focus that systems XXXX. a
infrastructure improvement agenda. administration's plan high growth on an improving current organic by is supported the environment Our industry with
strong we our expansion, refined with large high-growth well well in opportunity. and a capture our allocating highly effective M&A prudent a that conjunction The This have to criteria. in makes liquidity execution very rooted positioned We for positioned organic of has remarks. focused capital manner with market Daseke growth us but remain plan consolidation a this strategy concludes in
Now, I over will turn the back to the operator. call
