business

Tough trucking market hits EBITDA at TriumphPay; other indicators up

In his quarterly note to shareholders, Triumph Financial CEO Aaron Graft predicted that the headline on the earnings might be “TriumphPay swung to a loss this quarter” — one quarter after that growth segment at the trucking-focused bank had become EBITDA-positive.

And so it was: Earnings before interest, taxes, depreciation and amortization for TriumphPay was negative in the quarter. But as Graft noted several times in his unique quarterly shareholder missive, Triumph Financial is playing the...

https://www.freightwaves.com/news/tough-trucking-market-hits-ebitda-at-triumphpay-other-indicators-up

Switcheroo: EV Realty secures electricity before launching charging sites

Startups, real estate giants and others developing electric truck charging sites tend to pick locations before being certain they can get electricity in a timely fashion. Startup EV Realty prioritizes having the juice available when it buys a property.

‘Buying by the acre and monetizing by the megawatt’

Patrick Sullivan is like a lot of his peers developing electric infrastructure for fleet charging. He knows how the electric power business works, what it takes to develop and what can frustrate...

https://www.freightwaves.com/news/switcheroo-ev-realty-secures-electricity-before-launching-charging-sites

FreightTech Friday: Gartner critiques real-time-visibility market players

Technology research and consulting firm Gartner recently released its Real Time Transportation Visibility Platform (RTTVP) report, highlighting the space’s top performers while suggesting areas for improvement.

The company describes RTTVPs as platforms engineered to offer real-time tracking and status updates on orders after they leave the warehouse, using integration with carrier systems or telematics for data gathering. The report assesses various levels of complexity in RTTVP implementation,...

https://www.freightwaves.com/news/freighttech-friday-gartner-critiques-real-time-visibility-market-players

Bad news at Marten: Profits miss expectations, truckload OR plummets

Truckload carrier Marten Transport added to this week’s trucking earnings calamity, coming in short of consensus on first-quarter earnings per share and revenue, and suffering a 570-basis-point decline in its operating ratio.

Marten (NASDAQ: MRTN) posted GAAP earnings per share of 12 cents, which SeekingAlpha said was 2 cents less than the consensus forecast. That is a miss of about 14.3% compared to the consensus of 14 cents per share.

Revenue of $249.67 million was short of consensus by $14.2...

https://www.freightwaves.com/news/bad-news-at-marten-profits-miss-expectations-truckload-or-plummets

State of Freight: How long will trucking market trough linger?

With the equities market for trucking stocks reeling this week on the backs of two companies’ highly bearish disclosures, one question loomed large on the FreightWaves State of Freight webinar: Are we getting near the bottom?

Battered and bruised in #trucking this a.m. due to numbers from $JBHT and $KNX. At approximately 10:50, here were some of the % drops: $XPO, -4.6%; $WERN, -2.5%; $TFII, -7%; $SNDR, -4.3%; $SAIA, -3.4%; $ODFL, -5.5%; Hunt, -9.2%; Knight Swift, -4%; $FWRD, -9.08%; $ARCB,...

https://www.freightwaves.com/news/state-of-freight-how-long-will-trucking-market-trough-linger

5 auto haulers combining to create publicly traded trucking company

A Florida-based auto hauler, Proficient Auto Transport, is the lead company in the process of rolling up several other auto haulers with plans to take itself public in an initial public offering.

In a prospectus filed with the Securities and Exchange Commission and made public last week, Proficient Auto Logistics was introduced as the name of the company that will acquire five auto haulers at the time the IPO goes through: Delta Automotive Services, Deluxe Auto Carriers, Sierra Mountain Group,...

https://www.freightwaves.com/news/5-auto-haulers-combining-to-create-publicly-traded-trucking-company

Gather AI launches new features, sees promise in indoor drone tech

Shortly after announcing its $17 million raise in March, Gather AI, an inventory management solutions provider that uses drone technology, launched two new offerings on Tuesday to elevate its ability to help warehouse operators find underutilized space.

The initial solution, location occupancy, harnesses computer vision data collected by Gather AI drones. It accurately gauges available space and promptly notifies managers when products can be consolidated, optimizing space utilization.

The...

https://www.freightwaves.com/news/gather-ai-launches-new-features-sees-promise-in-indoor-drone-tech

The Great Freight Recession has now lasted longer than the COVID bull market

On March 31, 2022, FreightWaves declared that a freight recession was imminent. More than two years later, the freight market remains in one of its deepest and longest recessions in history.

Our original conclusion was derived from signals from FreightWaves SONAR. Its high-frequency datasets, which track freight supply and demand in real time, indicated an imminent collapse. When FreightWaves first published the article, many were not only skeptical of the conclusion, they derided FreightWaves...

https://www.freightwaves.com/news/the-great-freight-recession-has-now-lasted-longer-than-the-covid-bull-market

Scopelitis seminar delves into lease purchase deals, M&A, ESG and more

INDIANAPOLIS — The Scopelitis Transportation Law Seminar is a three-day parade of speakers and panels discussing everything from what states’ license plates fleets should seek to slap on their trucks to the treatment of owner-operators whose trucks leave the road for maintenance. The gathering examines hundreds of legal situations fleets might face.

Here are five takeaways from the multitude of subjects the seminar covered.

The growing focus on lease purchase agreements

The ongoing task force...

https://www.freightwaves.com/news/scopelitis-seminar-delves-into-lease-purchase-deals-ma-esg-and-more

Logistics is in dire need of data standardization

Bart

By Bart De Muynck

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

The modern supply chain is a complex dance, with information flowing between numerous functions and disparate systems. Yet, all too often, this choreography is hampered by fragmented data trapped in silos, impeding visibility and hindering efficiency. To achieve true unification in the supply chain, a key factor emerges: data standardization. I...

https://www.freightwaves.com/news/logistics-is-in-dire-need-of-data-standardization

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