🎣 Reading Between the Lines

Happy Hump Day. Invoice values are rising and network activity is growing. But what about broker margins?

Plus:

• UPS to Cut 30,000 Jobs
• ATA Push to Extend Under-21 Driver Program
• Cargo Thieves Targeted Bigger Pay Day in 2025

🍳 What's Cookin' In Freight

📦 UPS Cuts 30,000 Jobs; Q4 Earnings Decline. United Parcel Service plans to eliminate up to 30,000 jobs and close 24 facilities in 2026 as it continues shedding low-margin Amazon volume. CEO Carol Tomé said UPS will “glide down another million pieces per day” from Amazon while reconfiguring its network. Q4 revenue beat expectations at $24.5 billion, with revenue per piece up 8.3% domestically. Despite a 3.2% annual revenue decline, UPS forecast 2026 revenue of $89.7 billion, above Wall Street estimates.

🚛 ATA Pushes to Extend Under-21 Driver Program. The American Trucking Associations is asking FMCSA to extend the under-21 interstate driver pilot through a five-year exemption, arguing the program logged “millions of miles” without crashes. But participation lagged: only 42 drivers completed it. OOIDA calls the pilot a failure and backs the narrower ROUTE Act. Writing on FreightWaves, Rob Carpenter argues the industry faces a training and retention crisis, not a driver shortage, and says lowering the age worsens safety and accountability.

💰 Cargo Thieves Targeted Bigger Pay Day in 2025. CargoNet reported cargo theft losses jumped 60% in 2025 to nearly $455 million, even as incidents held flat at about 3,600. Vice President of Operations Keith Lewis said criminal groups are “more selective,” targeting higher-value freight. Average loss per theft rose 36% to $273,990. Food and beverage theft climbed 47%, metals rose 77%, and activity expanded beyond California, Illinois, and Texas into New Jersey, Indiana, and Pennsylvania.

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What Triumph’s Earnings Say About Freight in 2026

Triumph Financial’s Q4 earnings don't point to demand recovery. However, it does show where pressure is building.

Invoice values are rising, and network activity is growing, but broker margins are still getting squeezed.

What the Data Is Showing Inside Freight Payments