MONTREAL, Que. – It was a record first quarter for TFI International, which posted a profit of $65.1 million, up sharply from a $48.2 million profit during the same quarter last year.
It achieved record operating income of $106.3 million, a 41% spike year-over-year.
“This year is off to a strong start at TFI International, continuing our momentum that grew throughout 2018,” said Alain Bedard, chairman, president and CEO. “We produced record first quarter results due to our relentless focus on strong execution and profitable growth, regardless of the economic cycle.”
All segments performed strongly, Bedard added, but logistic and last mile saw a 5% decline in revenue y-o-y. Operating income was higher across all segments.
Total revenue was $1.23 billion, a 3% increase from Q1 2018. Net cash flow from operating activities was $160.7 million, up 178% from Q1 2018.
“For the remainder of the year, as always, our focus will be on creating and unlocking shareholder value, and returning excess capital to shareholders wherever possible,” Bedard said.