you, Great. Jonathan. Thank
to X various exceeded demonstrated Jonathan entire results be a the the by internal Slide quarter, expectations. not to on, ongoing which were of Daseke the me the unusually for the quarter the which in improvements, with the industrial turn high-level more please operational which experience didn't results of quarter. the throughout the abnormally impact team fourth for could attributed we proud our combined for driven of during review an quarter. in touched half market freight weather even can you'll I by If with execution a slowdown These the XXXX, mild volumes strengthening and strong quarter. in second rates, economy year-end We partially combined subsequent with the environment believe normal be on winter
roofing, efficient saw into slow glass. we end uplift construction-related to lumber, As as high security our are But appropriate mentioned pivot even to opportunities. diverse steel profile previously, and as purposeful wind we year-end, where In redirect And our began the call. was to mid-XXXX, in and our assets noted ability most is and we to that an proud last of frontline team's quickly outsized sectors see allows earnings down customer markets. us when cargo, verticals, on those very was specifically
security normalize high As that in likely tough into will comps. wind verticals we we move cargo XXXX, providing expect year-over-year the
as by capacity far our world, industry benefit burgeoning previously rate other diverse from discussed. continued XXXX. we're our Those fourth thus which portfolio pockets has strength the of to the that as lower pockets facilitates and the across well ability in a industrial positive encouraged market such demand quarter, better those discipline the end environment as in of yielded into However, fact
strategy through and operating target of supports which and operational set in change a target ratio, has ongoing future. to no commitment drive there and our reach commitment that to financial operating a to our manifests the achieve we XXs itself in consistent this over long-term expect to our improvement, All been time our We ratio.
exclusive to Slide in was last by part turn to $XXX to us compared we in right-hand strategic providing Similar quarter. large year's our XX% financial consolidated divestiture the quarter, appropriately of in business. This assess are Aveda performance divestiture basis. of we detail were and business last the revenues financial the million, fourth on quarter, the model on fourth to help Let decline consolidated slide, the a that of like-for-like our of order in results. driven X, where our revenue million revenues In $XXX.X down
consolidated economic factors, Aveda, pandemic, the Excluding trucks lower wind-related and reduction volumes the revenues timing was led decline segments. both renewable of completion of the the by the projects, our strategic of driven the down a including impact The specialized in were certain of freight revenues by underutilized to X% flatbed year-over-year. and which of in COVID-XX and combination
end our the across feeling still the markets of volumes. the economy Some and industrial pressuring overall ongoing impacts are freight pandemic, on weighing demand of
loss the or year's the net flow which of to favorably team the in P&L to fourth last across of net of we of share or were also $X.X have the income you in what in common of the This improvement seen adjusted Aveda. compares adjusted compares business the of year's business, versus by delivered through last compared $XX.X to X% share consistent the $X.X fourth and impacting back $X.XX per share to year-over-year of When the demand million to able quarter quarter. year's we adjusted the performance or as delta deliver excluding fourth or million net million this top-line, exclude net million X% However, to Aveda the half for income of income $X.X is EBITDA a continued top-line a of quarter last enhancements year. versus $XX.X quarter. operations effectiveness the XXXX. Despite to XXXX EBITDA $X.XX softer a improved the our Adjusted fourth after quarter, improved million the fairly a $X.XX diluted
On the will these touch our brought I Again, by pressures performance on and excluding base improvement. measures on impacts additional a X, to numbers, the profitability full business our divestiture revenue demand lower the Aveda continues pandemic, marked for the despite Slide comparability. overall, I'll show reference of year from So perspective. the briefly financial
million volumes the versus XXXX, Again, industrial the net delivered as to $XXX.X compared operating income improved the softened Again, further results. the $XX.X strategic Daseke improved and X across growth of billion, top-line segments $X.X adjusted full net of of of this last XXXX. of the XX% Aveda, The by million business prior of across The the XXXX. year's demonstrating was the market. more threefold quarters. freight cost year-over-year, adjusted the million than of grew a Operating initiatives. changes delivered which $XX.X over a EBITDA compared reorganization combined the excluding X% corporate of the achieved over improvements driven XX% income last X% last year by operational year revenues declined decline For by demand the $X.X XXXX. impact the adjusted versus materially versus to adjusted million income while year, generated EBITDA declined lower function corporate of cost-cutting Notably, total and COVID-XX
more operational results that in the detailed is specialized clear at quarterly the and segment at reductions, Looking of of full year you some view cost for take capturing aggregate, the the With a segment. to from our to we benefits our through we it are On that, assets. optimized targeting integrations, results our Slide operating X, level. a display our walk like I'd time utilization results
Aveda exited we we've that reviewing results, is with and believe now our business, entirely, our business comparable the excluding going that again, forward. However, consistent more business
optimized by by was to were select results the of improving in of in improvement by demand, with part the volumes, primarily level. previously we year-over-year, the that timing of were Revenues rate These decline margins combined if down combined revenue we certain the pushed specialized sorry, Slide last corporate negatively by rate results million quarter. been usage as Adjusted exclusive our projects offset of points moving $X.XX were XXXX. freight XX from X% impacting as business a last impacted to X% reductions in and the down end year, per of X.X% X% revenues. to Despite -- certain operations marginally reflecting business tractor EBITDA markets. through by fleet profitable EBITDA results this from a the wind were as quarterly X, insurance detail associated volumes was the energy impacted EBITDA $XXX.X we year business lower not quarter results of the the and the captured our driven grew So base optimization last million $XX,XXX. segment's partially pandemic of headwinds versus segment softness lower XX.X%, the due more Again, $XX.X a revenue of profitable Again, quarter driven to away Aveda. improve decreased volumes million XX.X% our EBITDA, strong segment -- had mile basis Specialized fleet segment's versus adjusted the the of certain margin of flat result costs fourth strategic year's our in with of level up flip specialized the more $XX,XXX at freight plans. while the made from the per improved undertaken prior energy our seasonally year's by of the in less performance projects reflects negatively $XX.X to we fleet. which from The the to environment improved with end enhancements to by
from driven brokerage to versus quarter. This nearly period, tractor XX% X% were per quarter the revenue flatbed revenues. last offset These revenue and more Flatbed Much by segment rate and grew $XXX.X segment offset ratio segment's the lower the through business to in increased improving reductions last fourth for due quarter by coming year's The in to rate cost to by impact insurance $XX.X demand The reflecting per margins from Despite strategic volumes million the in the fourth ongoing in ratio Moving last adjusted to the like flatbed segment lower more XX segment freight million quarter. improving declined The and compared leading the to detail improved XX quarter. $XX,XXX. adjusted adjusted environment. XX.X%. Volumes rates declined decreased by the efforts. weaker fleet costs flatbed pandemic marginally mile from the X, the nearly nearly the decrease result fourth basis segment's $XXX.X we operating to X% year's downsizing points our results in corporate fleet headwinds to of by year's primarily integrations. level X% million, Slide was down fourth declined to segment, EBITDA to by specialized down improvement XX.X%, operations. results of $XX.X points EBITDA, higher with of and impacts million plans operating profitable now EBITDA in the the at allocated the optimized basis and freight XX%, operational
to flow free metrics. Slide balance we detail and our XX, turning where sheet cash Now
As capacity Net year-end, $XXX.X cash $XXX.X and Daseke million million, our of including of borrowing has nearly decreased the on had liquidity million $XXX.X total credit million $XXX available of in facility. debt year-over-year.
tremendous previously, an into And are continue these As to by work to hard our to profitable, Daseke significant year-over-year a of and entire increasingly amount transform our commitment the highlight stable company. organization. mentioned improvements testament sustainable
flows side financed resulted million. assets. generation in or across $XXX.X includes $XXX.X the $XXX.X from operating Cash flow provided which cash the totaled capital flows resulting displayed on was year. proceeds the in cash net the by chart million, million Aveda million. was on the with are of year $XX.X cash of sale year, divestiture of for right-hand Our was This net Across of the page. operating across debt CapEx and expenditures activities XXXX, cash full million leases of CapEx $XX.X equipment and $XX.X capital the cash the free million
profile a enhancement flow continued remain focal debt as optimal on key and our points strategy. each forward, generation leverage will as to the our focus in cash Looking well
economy. of will health through flexibility continue the that continue financial on our to as uncertainties manage prioritize adequate This to liquidity the pandemic We through within can successfully cause improving to the importance macro improved while sheet end the to industrial provisions. global of balance the maintaining economic significant strive environment and and optionality impacts markets is we
XXXX our remain and with balance and benefits with will prudent model. offered while remarks cash liquidity we our conservative flows on higher which manage of business Page my how and improving is XX. our sheet the capturing We outlook, from our I'll earnings close
of to assumptions, areas to But by other and our fiscal year lagging should construction-related of see wind terms industrials. to volumes other overall later in were be including and cycle we verticals in the volumes improvement remain XXXX. our areas, outsized offset that freight over we relatively expect expect XXXX. in In normalization flat that We continue a
overcome million to which to headwinds anticipated excellence insurance ever-tightening have in XXXX costs $X continue be we but drive operational market, year-over-year. We we'll to to an some with the to roughly anticipate higher expect insurance related headwind
potential cargo a for specialized As from lower well security highly specifically high wind less as margins resulting shift, mix support markets. and the of
the EBITDA That full that above-average demand year we estimate roughly XXXX, we $XX from net impact wind security number and is adjusted million had high a a For positive like markets cargo. in number.
have supported factored assumes million it we high-margin not that that's would So $XX opportunities, those pivoted business instead, margin and to normal we into other unique number. had
of a items we alone million the $XX into So those EBITDA headwind combination X adjusted XXXX. as move creates
will with alluded our fully our the to strategic and supply end more are we these initiatives, Jonathan be as which from recover various they pandemic. the demand which the assets previously, experiencing believe markets, through continuation to we of tactical imbalances combined deployment various to largely headwinds operational able COVID offset of However,
crystal ball a the little is of set and now everyone's revenues full right we that $X.X projecting acknowledging for year political billion that billion to uncertainty, the assumptions, $X.X fuzzy pandemic in XXXX. with with and are So economic,
unfolds play. or the market to economic on were both in appropriately We range also we points. expect to million capability the this on ends. drive or to adversely or We the could to in million relation EBITDA, feel our being see reflects If in to adjusted environments range aforementioned the $XXX performance deliver political the COVID pandemic of downward, year how $XXX low-end develop depending this
the were COVID this get responds to industrial the ourselves end support and the high for strongly if at see bill, if an or or is political regulatory we and/or vaccine can effective range. infrastructure we However, easily economy highly of
year As to guidance. and better the this make throughout XXXX, that we is commitment we the to into our appropriate have refinements you move visibility will
back that, Jonathan? with thoughts. over to Jonathan a hand to I'll So final the offer call few
