TFI International Inc. Q3 Earnings Report

NEW YORK – TFI International Inc. (NYSE: TFII) reported third quarter earnings that fell short of analyst expectations, sending shares down 1.26% in after-hours trading.

The North American transportation and logistics company posted adjusted earnings per share of $1.60, missing the consensus estimate of $1.78. Revenue came in at $2.19 billion, below analyst projections of $2.27 billion.

Despite the earnings miss, TFI International's Q3 revenue increased 14.3% YoY from $1.91 billion in the same quarter last year. The company cited contributions from acquisitions as driving the revenue growth, partially offset by lower volumes due to a weaker transportation environment.

Operating income rose slightly to $203.3 million from $200.6 million in Q3 2023. However, net income declined to $128.0 million compared to $133.3 million in the prior year period.

"Despite soft market conditions, TFI International performed well during the quarter, generating more than $350 million of net cash from operating activities and over $270 million of free cash flow, up 26% and 37%, respectively, over the year-ago period," said Alain Bédard, Chairman, President and CEO.

The company's board approved a 13% increase in its quarterly dividend to $0.45 per share.

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