Dependence On AcquisitionsHeavy reliance on acquisitions to offset customer attrition raises sustainability concerns and suggests the business model may need adaptation for cycle durability.
Depreciation Impact On Reported EarningsElevated depreciation expense depresses reported profitability and can mask the underlying earnings performance, complicating investor evaluation.
Rate Pressure And Delayed RecoveryPersistent rate pressure from shippers shifting freight to brokers, combined with management caution and a likely turnaround deferred to mid-2026, could keep investor sentiment muted until clearer profitability emerges.