MONTREAL, QC – Trucking giant TransForce Inc. did more than just release its third quarter earnings on Thursday showing an increase in profitability. It announced it was getting out of one business while saying the next day where it was setting its sights for future growth.

It reported net income amounted to $43 million, or $0.43 per diluted share, versus $38.6 million, or $0.38 per diluted share, a year ago.

Total revenue reached $1.07 billion, up 13% over the same time last year, while revenue minus fuel surcharges increased 18% to $971.1 million. This increase reflects the acquisitions completed in the previous twelve months, as well as the effect of local currency appreciation on U.S.-dollar denominated revenue, according to TransForce.

“We recorded solid organic growth in the waste management and logistics segments, while the acquisition of Contrans lifted revenue and operating income in the truckload (TL) segment,” said Alain Bédard, chairman, president and CEO. “Certain economic challenges affected business activity in the package and courier (P&C) and less-than-truckload (LTL) segments whereas TL divisions servicing the oil and gas industry experienced another difficult quarter due to difficult market conditions.”

Because of what TransForce describes as a “persistent weakness” in the oil and gas business, the company announced its decision to cease its residual U.S. oil rig drilling moving business.

“In keeping with TransForce’s operating principles, remaining assets will be sold or redeployed to higher-return activities. This disciplined capital allocation and constant emphasis on maximizing free cash flow generation attest to our fundamental commitment of enhancing shareholder value,” said Bédard.

Meantime, on Friday during a conference call with investors, he said TransForce was also looking to the U.S. to grow its business next year.

“Our focus is going to be probably on growing our U.S. TL base,” he said. “If you look at valuations of TL companies in the U.S., valuations have come down big-time so I think the focus of mergers and acquisitions is going to be in the U.S. for us in 2016.”

While Bédard gave no indication as to what U.S. fleets TransForce would like to acquire, he expects them to be larger companies and will likely be based in the country’s East Coast region so they can compliment one of the other fleets it owns, Transport America, based in the U.S. Midwest.

In the meantime, TransForce has adjusted anticipated 2015 financial results. It expect continuing operations to generate total revenue of approximately $4.3 billion; earnings before interest, income tax, depreciation and amortization (EBITDA) from continuing operations of between $520 million and $540 million, previously $510 million and $530 million;, and basic adjusted earnings per share from continuing operations in the range of $2.07-$2.22; previously $1.97-$2.12.