In his quarterly note to shareholders, Triumph Financial CEO Aaron Graft predicted that the headline on the earnings might be “TriumphPay swung to a loss this quarter” — one quarter after that growth segment at the trucking-focused bank had become EBITDA-positive.
And so it was: Earnings before interest, taxes, depreciation and amortization for TriumphPay was negative in the quarter. But as Graft noted several times in his unique quarterly shareholder missive, Triumph Financial is playing the “long game” with TriumphPay, and the first quarter provided numerous data points he touted as showing that the strategy is steadily working.
