The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, reports suggest that autonomous truck startup TuSimple is not meeting revenue projections, Knight-Swift continues a trend of better-than-expected second-quarter earnings results, a long-running court battle concludes, and how innovative fleets are benefiting from open technology platforms.
Just a little short
Autonomous truck startup TuSimple is not meeting its revenue projections, according to a report. Because it is a private company, it is unclear how far it has missed projections, but the report said the company had projected revenues in 2020 of $284 million. One of its vehicles was also involved in a previously undisclosed crash.
Linda Baker has more details on the report: TuSimple revenues fall short
Good earnings continue
Knight-Swift (NYSE: KNX) reported stronger-than-expected second-quarter earnings as early truckload carriers continue posting good results. The Phoenix-based carrier posted adjusted earnings per share of 57 cents against analysts’ forecast of 35 cents.
Todd Maiden explains why Knight-Swift is raising its guidance: Knight-Swift 2Q beat; guidance reinstated and raised
Court battle comes to an end
Long-running lawsuits against New Prime over driver misclassification claims are finally about to end. Two class-action lawsuits have been settled, according to court filings, with New Prime expected to pay $28 million to current and former employees and contractors.
John Kingston has details of the settlement: Landmark driver classification case against New Prime ending with $28 million settlement
Fleet innovation, on their own terms
For some fleets, the right tools are just not available. Open-technology solutions, such as that from Platform Science, can provide them the flexibility to develop their own technology that meets their specific needs.
Brian Straight has more on how two fleets are doing just that: Innovative fleets taking advantage of open-platform technology
Stories we think you’ll like:
Did you miss this?
During the FreightWaves 3PL Summit on Tuesday, company CEO Craig Fuller debated market analyst Zach Strickland on when the trucking market bubble will pop. The back-and-forth ended with Strickland being declared the winner by the audience, but did he?
Vishnu Rajamanickam details the debate so you can decide: FreightWaves 3PL Summit: Will the trucking market bubble pop?
Hammer down, everyone.