TFI International Reports Record Results for 1Q

TFI International truck
Truck Freight International

Another quarter, another record for TFI International when the Montreal-based conglomerate released its first-quarter financial report April 23.

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Bédard

The company’s total revenue was up 3% from the same period a year ago, reaching C$1.23 billion compared with C$1.19 billion in the first three months of 2018.



Net income was C$65.1 million or 74 cents a share compared with C$48.2 million or 53 cents a share a year ago.

Operating income surged by 41% compared with a year ago, reaching a first-quarter record of C$106.3 million compared with C$75.4 million in 2018.

In the fourth quarter of 2018, the company reported a 60% increase in profits and as was the case last year, the increase came from all segments. Also, TFI completed the acquisition of three businesses during the first quarter.

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“The year is off to a strong start at TFI International, continuing our momentum that grew throughout 2018. We produced record first-quarter results due to our relentless focus on strong execution and profitable growth, regardless of the economic cycle,” CEO Alain Bédard said in a statement. “The significant year-over-year increase in our quarterly operating income was driven by strong performance across all segments.”

The company also announced it returned C$117 million to its shareholders through a combination of dividends and stock repurchases.

TFI provides parcel delivery, truckload and less-than-truckload freight hauling, plus warehousing and transportation management services and logistics throughout North America.

TFI International ranks No. 9 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.