TFI International reported a 60% increase in profits in the final quarter of 2018 from the comparable quarter in 2017, part of the trucking and logistics company’s record results for the quarter and the full year.
Adjusted net income was C$86.3 million, up from C$53.9 million the fourth quarter of 2017.
The Montreal-based conglomerate said it earned net income of C$292 million, or C$3.22 per share, for 2018, up 84.8% from C$158 million, or C$1.70 per share, in 2017.
TFI International said total revenue reached C$5.12 billion, up from C$4.84 billion in 2017.
Chairman and CEO Alain Bédard said all company segments saw increases, but the truckload segment boomed especially, helping to set records for the year and the fourth quarter.
“Record fourth-quarter results capped a record year for TFI International as our singular emphasis on driving profitable growth drove strong performance across all segments,” Bédard said. “Each segment contributed stronger revenues and, notably, truckload saw operating income more than double.”
The company 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. — Transport Topics