MONTREAL, Que. – TFI International powered through a strong cycle to achieve record fourth quarter and year-end results in 2018.
Fourth quarter operating income was up 56% to $103.3 million, and operating margin was up 270 basis points to 8.9%, thanks to margin improvements in LTL, truckload, and package-and-courier segments. Revenue for the quarter was $1.32 billion, an increase of 11% year-over-year.
Adjusted net income was up 60%, to $86.3 million.
“Record fourth quarter results capped a record year for TFI International, as our singular emphasis on driving profitable growth drove strong performance across all segments,” said Alain Bedard, chairman, president and CEO of TFI International. “Each segment contributed stronger revenues and notably, truckload saw operating income more than double. I’m most pleased that our 2018 net cash from operating activities surpassed half a billion dollars for the first time. These strong results reflect not only our unique and favorable positioning, but our execution of the fundamentals, cycle in an cycle out.”
Revenue for all of 2018 totaled $5.12 billion, up from $4.84 billion in 2017. Net income rose to $292 million in 2018, from $158 million in 2017. A conference call with analysts will take place this morning. Trucknews.com will have more details as they become available.