Factoring

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

Triumph factoring group’s new COO sits atop a business that has doubled

Kimberly Fisk has been in the factoring business long enough to remember when factoring was known as the F-word.

But the growth that Fisk, recently installed chief operating officer at Triumph Financial Services LLC, has seen in her more than 11 years at Triumph is enormous. Triumph now purchases about 600,000 invoices per month for factoring. Five or six years ago, she said, “It was about half of that, because we have grown much more in size in the last couple of years.”

FreightWaves...

https://www.freightwaves.com/news/triumph-factoring-groups-new-coo-sits-atop-a-business-that-has-doubled

Investment bank praises Triumph Financial but cuts its stock price rating

Financial services analysts at Piper Sandler think Triumph Financial has a strong future over the next two years, but they aren’t too hot on the stock right now.

In a report that could be read as more of an endorsement of the strategy of the trucking-focused bank, analysts Frank Schiraldi and Justin Crowley on Monday cut their rating on Triumph Financial (NASDAQ: TFIN) to Underweight from Neutral. 

The reasons for their move are both somewhat complimentary to Triumph: The bank’s strategy is...

https://www.freightwaves.com/news/investment-bank-praises-triumph-financial-but-cuts-its-stock-price-rating

Carriers need True Non-Recourse factoring as brokers continue to close up shop

Last year was a treacherous time to be in the logistics industry. While experts are more optimistic about 2024, flipping the calendar over to January did not offer instantaneous relief. 

Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time. This is especially true as freight brokers – ranging from small companies to household names – continue to enter and exit the market at breakneck speeds. 

When a...

https://www.freightwaves.com/news/carriers-need-true-non-recourse-factoring-as-brokers-continue-to-close-up-shop

Love’s: Restraint in new travel centers/truck parking in ’24, but larger growth plans

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Coming off a year in which it made several significant acquisitions even as its growth in new travel...

https://www.freightwaves.com/news/loves-restraint-in-new-travel-centers-truck-parking-in-24-but-larger-growth-plans

EBITDA at TriumphPay, its key metric, turned positive in Q4

Triumph Financial put it right at the top of its fourth-quarter earnings report: Its TriumphPay division, which combines its traditional quick pay services with the “open loop” invoice processing known simply as “the network,” was EBITDA-positive in the last three months of 2023.

In his lengthy note to shareholders, Triumph (NASDAQ: TFIN) CEO Aaron Graft said the milestone had been achieved one year ahead of schedule “despite a freight recession.”

Graft said several factors contributed to the...

https://www.freightwaves.com/news/ebitda-at-triumphpay-its-key-metric-turned-positive-in-q4

True nonrecourse factoring offers unparalleled protection for carriers

The ongoing freight recession has created a difficult operating environment for carriers and brokers alike. The sheer amount of capacity in the markets remains significantly higher than demand. At the same time, brokers are entering and exiting the market at a rapid pace.

This combination of challenges has made it difficult for carriers to create and maintain lucrative partnerships in recent years.

While spirits were lifted during the third quarter of 2023, brokers and carriers have seen a stark...

https://www.freightwaves.com/news/true-nonrecourse-factoring-offers-unparalleled-protection-for-carriers

Failing brokerages, asset-based lending imperil carriers, says OTR Solutions

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With brokerages closing and some filing for Chapter 11 protection, a major factoring company has...

https://www.freightwaves.com/news/failing-brokerages-asset-based-lending-imperil-carriers-says-otr-solutions

TriumphPay’s EBITDA loss narrows, volume increases, factoring invoices stay flat

In the quarterly multipage letter to investors from Triumph Financial CEO Aaron Graft, improved financial performance at the company’s open-loop payment network went side by side with weaker numbers in its factoring business that would be expected in the middle of a freight recession.

Triumph (NASDAQ: TFIN) management has said repeatedly that the two most important numbers at TriumphPay were earnings before interest, taxes, depreciation and amortization and the number of transactions on its...

https://www.freightwaves.com/news/triumphpays-ebitda-loss-narrows-volume-increases-factoring-invoices-stay-flat

Breaking: Convoy cut off by OTR Solutions

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The factoring company OTR Solutions has put Seattle-based digital freight brokerage Convoy on its...

https://www.freightwaves.com/news/breaking-convoy-cut-off-by-otr-solutions

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