Triumph Financial’s earnings saw a tighter EBITDA loss at TriumphPay and a largely flat average invoice price in its transportation factoring business.
The cross-border trucking industry is recovering from a migrant surge and Texas inspections, trade officials said.
Transfix has closed a $40 million Series F funding round during “one of the most challenging markets in freight history,” company officials said.
Prospective acquirers are looking at Convoy’s platform and engineering and product teams.
Digital brokerage Convoy is closing, with no buyer coming in to rescue its operations.
Pam Transportation Services sees truckload fundamentals weaken further during the third quarter.
The impacts of double brokering are felt by carriers and brokers alike, disrupting operations and causing financial and liability risks for everyone involved.
A third-generation family-owned trucking company and brokerage — Certified Freight Logistics, headquartered in Santa Maria, California — is ceasing operations on Saturday after 95 years, citing “falling freight rates and reduced volume.”
Proterra Inc. has extended the bankruptcy auction dates for its three electrification business units while it continues in business.
Nikola will replace battery packs in its electric trucks following several fires. The pack is a high-cost component.
Automaker Tesla’s plan to build a factory in Mexico could be delayed past 2025, CEO Elon Musk said Wednesday.
Industry could see more freight brokerage closures amid a changing financial climate.
Truckload carrier Marten saw its earnings fall from a year ago and detailed how much of that was caused by higher fuel prices.
Volvo Group reported strong third-quarter results but reported slowing orders as trucking demand returns to normal.
Digital brokerage Convoy has canceled all shipments and shut its load board, with an announcement of its future upcoming.
U.S. Rep. Doug LaMalfa, R-Calif., argues that a long-standing tax on new trucks is an inefficient way to sustain the ailing Highway Trust Fund.
Cass’ shipment data was up sequentially for a second straight month in September and the truckload linehaul index was positive for the first time in more than a year.
FreightTech company Flock Freight’s chief revenue officer has departed after eight months. The company also is cutting positions on its social and creative teams.
Lingong Machinery Group is investing $5 billion to build a plant and industrial park in northern Mexico
Activist investor Ancora said it will move to remove Forward Air’s board and CEO if a Tennessee court rules a shareholder vote on the Omi merger is warranted.
