TFI International Reports Strong Truckload Performance Amid Mixed LTL Results
In Q2, TFI International (NYSE: TFII) reported strong performance in its truckload operations while facing mixed results from its less-than-truckload (LTL) segment. Truckload revenue rose by 12.6% year-over-year, with adjusted EBITDA increasing by nearly 15%, and the operating ratio improving significantly to 86.1%. Revenue per truck per week excluding fuel increased sharply at 21.6%. In contrast, LTL's performance was more subdued: its revenue per hundredweight declined slightly, while revenue per shipment dropped 2.1% year-over-year despite a modest improvement in the operating ratio. Overall, TFI International delivered strong financial results for Q2 with net income rising to $136.2 million from $98.2 million and adjusted earnings per share climbing to $1.86 compared to $1.34 last year. The logistics segment also contributed positively. Revenue mix shifted slightly: manufactured goods now account for 19% of revenue, up from 17%, while retail dropped to 16%. Automotive's contribution increased to 13%. The company reduced its equipment count significantly compared to a year ago, with fewer trucks and trailers in operation.
Tickers: $TFII
Topics: Financial Results Logistics Transportation