MONTREAL, Que. – TFI International grew its Q4 net income and revenue from continuing operations, during a quarter of transition.
The company reported Q4 revenue of $1.06 billion, up 2% year-over-year, and net income from continuing operations of $120.2 million.
“The fourth quarter capped a year of continued strong progress on our key initiatives, including greater operational efficiency and continued robust cash flow. Organic growth in operating income was strong in 2017 excluding our U.S. truckload operations,” said Alain Bédard, chairman, president and chief executive officer. “Throughout the year, we generated strong cash flow, which we used to reduce our debt.”
TFI International reports its higher revenue is attributable to acquisitions, offset by revenue declines in some existing operations, and the negative currency impact.
For the full year 2017, TFI International grew total revenue from continuing operations 18% to $4.74 billion. Acquisitions contributed $824.1 million of the increase, but decreasing revenue in existing operations offset the gains.
Net income for the year was $158 million, compared to $157.1 million in 2016. We will have more details on TFI’s Q4 and full-year 2017 results later today.
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