MONTREAL, Que. – TFI International reported stronger earnings during the first quarter, thanks to improved truckload operations.
Total revenue of $1.2 billion was flat compared to Q1 2017, but the company said this was due to currency exchange rates and the shedding of less profitable business. Operating income rose 56% year-over-year to $65.9 million, while truckload operating margin nearly doubled. The company posted net income of $48.2 million, up from $14.1 million during the same quarter in 2017.
“Earnings increased substantially at all four of our reportable segments, most sharply in truckload,” said Alain Bédard, chairman, president and chief executive officer. “We also enhanced transparency with the creation of a logistics and last mile operating segment, which is now our second largest segment by revenue. This is a fast-growing market that we are well positioned to serve, and we believe our new segmentation better clarifies our ongoing progress.”