Breaking

Triumph Financial CEO: Brokerage Market Splits Into Winners and Losers

Aaron Graft, chief executive of Triumph Financial, says the freight brokerage sector is experiencing a bifurcated market rather than industrywide decline. Large brokers generating more than $100 million annually expanded volume 15% year-over-year, driven by enterprise shippers consolidating relationships with bigger intermediaries. Conversely, smaller brokers with $10 million to $50 million in revenue grew margins 37% over the same period by leveraging spot market positioning and relationships with small and mid-sized businesses. Graft noted new carrier formation has stalled, as drivers earning 70 cents per mile who would previously have sought operating authority are now remaining as employees. Compliance requirements, insurance scrutiny, CDL enforcement, English language proficiency standards, and ELD mandates are creating substantial barriers to entry for new carriers.