| The Daily // Thu 10.22.26 | View in browser → |
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The Daily
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NEWSLETTER BROUGHT TO YOU BY — QUANTIX
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ANNOUNCEMENTS
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Stord acquires e-commerce rival AMS Fulfillment in nine-figure deal
Stord, the Atlanta-based e-commerce logistics provider, acquired rival AMS Fulfillment in its largest deal since its founding 11 years ago, according to Eric Kulisch’s reporting. Terms were not disclosed, but Stord said in a news release that the price was in the nine figures. AMS processes online orders for more than 150 beauty, wellness and direct-to-consumer brands, mainly in cosmetics, apparel, footwear and accessories.
The deal adds 10 warehouses with nearly 1.3 million square feet of storage, packing and shipping space. Stord says its network reaches more than 100 own-controlled and partner locations and that it processes more than $15 billion a year in gross merchandise value for more than 1,000 e-tailers. The company says its revenue has grown 10-fold over the past four years and is approaching $1 billion.
Stord secured $650 million in equity and credit capacity this year, including a $400 million credit facility it closed earlier this month and $250 million in venture funding in May at a $3 billion valuation. AMS is its 11th acquisition, following Pitney Bowes’ e-commerce fulfillment business, Ware2Go, Penny Black and Shipwire. CEO and co-founder Sean Henry said the deal sends Stord into peak season with more scale, intelligence and momentum than at any point in its history.
Kulisch’s subhead frames the deal as part of a broader shift: logistics companies that specialize in direct-to-consumer sales are gaining scale to compete with large marketplaces. Stord says AMS customers should benefit from its scale and technology in inventory management, speed and reliability.
Triumph Financial CEO’s letter points to gains across the business
Triumph Financial CEO Aaron Graft’s quarterly shareholder letter reads as the first steps into a victory lap, according to John Kingston’s reporting. Against targets set two quarters earlier, third-quarter transportation revenue growth was 37.8%, with about a third of it organic, and factoring operating margin was 43%. Payments EBITDA margin excluding the LoadPay wallet was 39%, up from 34% in the second quarter, against a target of more than 50%. Intelligence revenue was $2.4 million, down slightly from the prior quarter. Graft wrote that Triumph told investors it would invest through the freight cycle and did exactly that.
Graft says that for every $100 rise in average invoice price, Triumph should generate roughly $12 million in incremental annual revenue and 27 cents in earnings per share. Kingston cautions that it is not easy to draw conclusions because it is unknown what share of invoices is diesel cost.
TQL asks court to dismiss carriers’ RICO suit
TQL filed three motions Monday in the U.S. District Court for the Eastern District of Texas seeking dismissal of the RICO case that carriers brought against TQL and C.H. Robinson, according to John Kingston’s reporting. TQL argues its practices do not meet RICO’s definition of corrupt activity, that the venue is wrong and that one carrier plaintiff has no contract with it. Several plaintiffs agreed in their contracts to litigate exclusively in state court in Clermont County, Ohio, where TQL is based. TQL says the case is about plaintiffs losing freight to a lower bidder, which it attributes to their poor business practices.
No court has ruled on the motions. C.H. Robinson, also a defendant, had not filed a response, and TQL does not suggest C.H. Robinson acted improperly.
Missouri autonomous railcar project wins $16.2M federal grant
The Federal Railroad Administration selected the City of Columbia, Missouri, for a $16.2 million CRISI grant, and Intramotev will deploy two autonomous freight railcars on the city’s Columbia Terminal Railroad as part of the project, according to Stuart Chirls’ reporting. Intramotev’s TugVolt technology will run on the 21.4-mile line between Centralia and Columbia, starting with remote switching at the Columbia terminal and moving to autonomous freight service across the full mainline, including public crossings, under an FRA-approved test program. The grant also funds track and infrastructure upgrades.
The project is meant to produce a safety record that the FRA and the more than 600 U.S. short-line railroads can use as a template, according to the announcement. The announcement did not specify a deployment date or a timetable for moving from terminal switching to full-line service.
Motive launches AI Agents as fleets weigh how to prevent problems
Motive launched Agents on Monday at the ATA Management Conference & Exhibition in Charlotte, according to Thomas Wasson’s reporting. The agents act on safety and maintenance alerts under rules a fleet sets, including opening work orders, alerting managers and sending in-cab voice messages to drivers. A fault code can automatically open a work order in Motive Maintenance and mark the vehicle out of service. Jared Whitson, senior director of safety and compliance at Bennett Family of Companies, said he kept driver-facing actions off at first to let the product earn trust. Motive says annual recurring revenue has passed $600 million, up 30% year over year, across nearly 100,000 customers.
Calls to drivers from Atlas, Motive’s AI assistant, arrive later this year, and building agents in plain language comes early next year, so only part of the product is live today. The release does not include pricing.
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| Time | Guest | Topic |
|---|---|---|
| 12pm | Aaron Graft | Founder, Vice Chairman and CEO of Triumph Financial |
| 12:20pm | Mike Normile | CFO and Executive Vice President at Cass |
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Vertical Aerospace eVTOL: The Future of Urgent Air CargoVertical Aerospace’s Michael Cervenka explains how the Velocopter eVTOL aircraft is set to transform urgent freight and remote logistics. |
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Rail Traffic SURGE: Why Intermodal Volume is ClimbingWhy intermodal rail volume is climbing. |
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Truckload Pricing Power? Diesel Is Eating It UpWhether truckload carriers’ pricing power is being eaten up by diesel costs. |
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Stord’s peak season testStord says the AMS deal sends it into peak season with more scale than ever. Watch how quickly it integrates AMS’s 10 warehouses. |
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TQL’s motions in TexasNo court has ruled on TQL’s three motions to dismiss. Watch for C.H. Robinson’s response, which had not been filed. |
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Motive Agents rolloutCalls to drivers through Atlas arrive later this year, and plain-language agent building comes early next year. Watch for pricing, which the release did not include. |
