Trimble's transportation and logistics business posted higher revenue and recurring revenue in the second quarter as CEO Rob Painter said the company is beginning to see signs that the prolonged freight downturn may finally be easing. Trimble's transportation and logistics segment generated $141 million in second-quarter revenue, up 5% organically year over year, while annualized recurring revenue, or ARR, increased 7% to $533 million. Painter pointed to rising spot rates and tender rejection rates as indications that freight supply and demand are beginning to rebalance. Trimble also reported healthy quarterly bookings in transportation and logistics, which Painter said reinforced the company's expectations for midterm growth. Trimble's board and management, working with longtime financial adviser Goldman Sachs, will conduct a strategic review to evaluate the third-party interest, Painter said.