Adjusted EPS $ 0.27 $ 0.19 $ 1.34 $ 1.13
========== ========== ========== ==========
Diluted EPS
EPS $ 0.09 $ 0.09 $ 0.70 $ 0.77
========== ========== ========== ==========
Adjusted EPS $ 0.25 $ 0.18 $ 1.24 $ 1.09
========== ========== ========== ==========
Weighted-average
common shares
outstanding:
Basic 52,026,143 62,489,277 60,459,451 63,744,456
========== ========== ========== ==========
Basic - adjusted 52,026,143 62,489,277 60,459,451 63,744,456
========== ========== ========== ==========
Diluted 54,430,235 64,885,771 63,283,502 65,409,258
========== ========== ========== ==========
Diluted -
adjusted 60,082,408 64,885,771 68,935,675 71,061,431
========== ========== ========== ==========
Daseke, Inc. and Subsidiaries
Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Pro forma EPS to Pro forma Adjusted
EPS
(Unaudited)
(Dollars in millions, except share and per share data)
Year Ended
Three Months Ended December 31,
December 31, 2022 2022
------------------ -----------------
Net income $ 6.9 $ 50.2
Adjusted for:
Income tax (benefit)
expense (1.4) 19.6
---- ------------ --- ------------
Income before income
taxes 5.5 69.8
Add:
Stock based
compensation 2.7 11.5
Impairment 1.6 9.4
Restructuring charges 0.4 2.4
Business
transformation 4.3 10.6
Severance 0.5 4.7
Acquisition-related
transaction
expenses 0.1 3.8
Amortization of
intangible assets 1.7 6.9
Debt refinancing
related charges -- --
Change in fair value
of warrant
liability -- (4.7)
Aveda (income)
expenses, net (0.4) 2.0
---- ------------ --- ------------
Adjusted income
before income taxes 16.4 116.4
Income tax expense at
adjusted effective
rate (0.7) (29.7)
---- ------------ --- ------------
Adjusted Net Income $ 15.7 $ 86.7
==== ============ === ============
Net income $ 6.9 $ 50.2
Less Series A
preferred dividends (1.2) (5.0)
Less Series B
preferred dividends (1.5) (5.9)
---- ------------ --- ------------
Net income
attributable to
common stockholders 4.2 39.3
Allocation of
earnings to
non-vested
participating
restricted stock
units -- (0.1)
---- ------------ --- ------------
Numerator for basic EPS
- net income available
to common stockholders
- two class method
(Pro forma) $ 4.2 $ 39.2
==== ============ === ============
Effect of dilutive
securities:
Add back Series A
preferred dividends $ -- $ 5.0
Add back allocation
earnings to
participating
securities -- 0.1
Reallocation of
earnings to
participating
securities
considering
potentially dilutive
securities -- (0.1)
---- ------------ --- ------------
Numerator for diluted
EPS - net income
available to common
shareholders - two
class method (Pro
forma) $ 4.2 $ 44.2
==== ============ === ============
Daseke, Inc. and Subsidiaries
Reconciliation of Pro forma EPS to Pro forma Adjusted
EPS (continued)
(Unaudited)
(Dollars in millions, except share and per share data)
Three Months Ended Year Ended
December 31, 2022 December 31, 2022
-------------------- --------------------
Adjusted Net
Income $ 15.7 $ 86.7
Less Series A
preferred
dividends (1.2) (5.0)
Less Series B
preferred
dividends (1.5) (5.9)
Allocation of
earnings to
non-vested
participating
restricted
stock units -- (0.2)
---------------- ----------------
Numerator for
basic EPS -
adjusted net
income available
to common
shareholders -
two class method
(Pro forma) $ 13.0 $ 75.6
================ ================
Effect of
dilutive
securities:
Add back Series
A preferred
dividends $ 1.2 $ 5.0
Add back
allocation
earnings to
participating
securities -- 0.2
Reallocation of
earnings to
participating
securities
considering
potentially
dilutive
securities -- (0.2)
---------------- ----------------
Numerator for
diluted EPS -
adjusted net
income available
to common
shareholders -
two class method
(Pro forma) $ 14.2 $ 80.6
================ ================
Basic EPS - Pro
forma
Pro forma EPS $ 0.09 $ 0.88
================ ================
Pro forma Adjusted
EPS $ 0.29 $ 1.69
================ ================
Diluted EPS - Pro
forma
Pro forma EPS $ 0.09 $ 0.83
================ ================
Pro forma Adjusted
EPS $ 0.27 $ 1.52
================ ================
Weighted-average
common shares
outstanding (Pro
forma):
Basic 44,906,945 44,651,313
================ ================
Basic - adjusted 44,906,945 44,651,313
================ ================
Diluted 47,311,037 53,127,537
================ ================
Diluted -
adjusted 52,963,210 53,127,537
================ ================
(END) Dow Jones Newswires
February 06, 2023 07:50 ET (12:50 GMT)