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TFI International sets quarterly record


MONTREAL, Que. – TFI International enjoyed a record-setting second quarter this year, with operating income from continuing operations reaching $149 million during the period that ended June 30 — up 21% over 2018.

“Our consistent ability to perform even during challenging freight environments is a result of our relentless focus on profitable growth, through strong execution of business fundamentals,” said Alain Bédard, chairman, president and CEO.

Total revenue reached $1.338 billion, compared to $1.318 billion in the second quarter of 2018. Revenue before fuel surcharges was at $1.184 billion and $1.157 billion, when comparing the two periods.

Three out of four business segments generated double-digit growth.

TFI InternationalCanada’s largest for-hire fleet also completed several acquisitions during the quarter.

TFI International’s U.S. last mile division, TForce Final Mile, took over select assets of BeavEx and its affiliates, Guardian Medical Logistics (GML), JNJW Enterprises, and USXP. The fleet also purchased specialized transport provider Aulick Leasing, and its tank trailer manufacturing affiliate, ShirAul.

But the company also closed its long-established Highland Transport division, which provided truckload and intermodal activities.

TFI International’s truckload business reported $570.4 million in quarterly revenue compared to $525.1 million during the same period in 2018. That was followed by $244.9 million from logistics and last mile activities (down from $246.9 million), $219.1 million from LTL business (down from $239.2 million), and $158.5 million in the package and courier segment (down from $158.8 million).

Total revenues from the truckload and package and courier segment are up in the first half of the year, while LTL revenue was down 4% compared to the first half of 2018. Last-mile revenue dropped 3%.

 

 


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2 Comments » for TFI International sets quarterly record
  1. Noble1 says:

    Preferred Count:

    We appear to have been presented with a 62% retracement from TFI’s 2019 low(Wave A) to the 2019 late April high(Wave B) on July 18 2019 , of which appears to be a wave 1 completion in wave C .

    Price also printed a 2B bottom on July 18 2019 .

    I currently anticipate a proregressive pop into wave 2 of Wave C and what one may interpret as a “right shoulder” pattern in classical TA . Then to be followed by a tremendous downward spike in wave 3 of C …………

    Enjoying the “financial engineering” though ………..

    Never 2 without 3 , so allow me to call(predict) another insider selling 2 days after reporting this financial result .

    In my humble opinion ……….

  2. Noble1 says:

    You should check this out :

    Legislation would increase minimum insurance coverage required for trucking companies

    quote:
    “New legislation submitted by U.S. House Reps. Jesus G. “Chuy” Garcia of Illinois and Matt Cartwright of Pennsylvania would change that. The two Democrats have introduced the INSURANCE act, a measure that would increase the insurance minimums to be updated with inflation. The new bill would set the insurance minimum at $4.9 million per accident.

    The mandatory minimum coverage of $750,000 hasn’t changed since 1980 when the Motor Carrier Act passed.”

    https://kdvr.com/2019/07/24/legislation-would-increase-trucking-insurance-coverage/

    Truck driver salaries should also be updated according to inflation since 1980 ..AND IT SHOULD BE MANDATORY AS WELL !

    In my humble and ethical opinion ……………………

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