This quarterly report represents an earnings surprise of 8.23%. A quarter ago, it was expected that this company would post earnings of $1.39 per share when it actually produced earnings of $1.24, delivering a surprise of -10.79%. TFI International shares have added about 12.5% since the beginning of the year versus the S&P 500's gain of 13.8%. Ahead of this earnings release, the estimate revisions trend for TFI International: mixed. While the magnitude and direction of estimate revisions could change follo ...

This company is expected to post quarterly earnings of $1.70 per share in its upcoming report, which represents a year-over-year change of +6.9%. Revenues are expected to be $2.31 billion, up 28.9% from the year-ago quarter. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> The stock has been performing well on the bourse for quite some time, having gained 21.4% over the past six months. The company's growth-by-acquisitio ...

You're welcome. Thank you. Operator Thank you. Our next questions come from the line of Benoit Poirier with Desjardins Capital Markets. Please proceed with your questions. Alain Bédard Company Participants Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to TFI International's First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Callers will be limited to one ...

Financial Data and Key Metrics Changes - Adjusted net income for the fourth quarter was $147 million, slightly down from $152 million in the same period of 2022, with adjusted EPS at $1.71, down by $0.01 [4] - Net cash from operating activities increased significantly to $303 million from $248 million a year ago, totaling over $1 billion for the full year, up from the previous year despite market conditions [4] - Return on invested capital for the P&C segment was 28.1%, indicating solid performance despite weaker demand [5] Business Line Data and Key Metrics Changes - Truckload revenue before fuel surcharge was nearly flat at just under $400 million, down 1% year-over-year, while operating income decreased to $51 million from $72 million, with an operating ratio of 87.3% compared to 86.1% [7] - Revenue before fuel surcharge for another segment climbed 24% year-over-year, with operating income jumping 60% to $55 million, benefiting from a successful acquisition and effective cost control [8] - The Canadian-based conventional truckload business held revenue before fuel surcharge at $78 million, with miles driven slightly up and rates increasing by about 7% [29] Market Data and Key Metrics Changes - The company noted a 4% decline in volume year-over-year in Q4, with a 13% decrease year-to-date, indicating a challenging market environment [38] - The average weight per shipment increased by 10%, although it remains below peers' averages [24] Company Strategy and Development Direction - The company is focused on profitability and cash flow, with plans to invest in the business, pursue attractive M&A opportunities, and return capital to shareholders even in weak market conditions [3] - The ongoing turnaround at US LTL emphasizes improving service quality and revenue, with a target operating ratio of 88% for 2024 [14][21] - The acquisition of Daseke is seen as a strategic move to enhance size and capabilities in the specialized truckload market [36][100] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding Q1 2024 due to poor weather conditions and a soft market, indicating that guidance for 2024 will be provided after Q1 results [10][34] - The company aims to improve service and reduce customer churn, which has been a significant issue affecting revenue growth [48][124] - Management believes that improvements in service and operational efficiency will lead to better pricing power and revenue growth in 2024 [126][128] Other Important Information - The Board of Directors raised the quarterly dividend by 14% during the fourth quarter, reflecting a strong financial position [31] - The funded debt-to-EBITDA ratio stood at 1.49, with a weighted average interest rate of 4.4% [30] Q&A Session Summary Question: Can you provide guidance for 2024? - Management stated that they are cautious about providing guidance due to the Daseke acquisition and current market conditions, preferring to wait until after Q1 [10][34] Question: What are the expectations for EPS in Q1? - Management indicated that while Q1 is expected to be tough, they believe EPS will be flat or slightly up compared to Q1 2023 [145][163] Question: How is the company addressing high customer churn? - Management acknowledged high churn rates and emphasized ongoing efforts to improve customer service and billing processes to enhance customer retention [48][124] Question: What is the target operating ratio for 2024? - The target operating ratio for 2024 is set at 88%, with a commitment to achieving this despite current challenges [14][21] Question: How does the company plan to improve service quality? - Management highlighted the importance of focusing on the right freight types and improving operational efficiency to enhance service quality [111][126]

Revenue Performance - Total revenue for Q4 2023 was $1.97 billion, a slight increase from $1.96 billion in Q4 2022, while full-year revenue decreased to $7.52 billion from $8.81 billion in 2022, reflecting a 10% decline [4][11]. - Total revenue for 2023 was $7,521,167, a decrease of 15% from $8,812,491 in 2022 [32]. - Total revenue for the three months ended December 31, 2023, was $1,604.8 million, a decrease from $1,689.1 million in 2022, reflecting a variance of -5.0% [46]. - Total revenue before fuel surcharge for Q4 2023 was $1,674,114 thousand, compared to $1,616,495 thousand in Q4 2022, reflecting a 3.6% increase [61]. Earnings and Income - Adjusted diluted EPS for Q4 2023 was $1.71, compared to $1.72 in Q4 2022, and full-year adjusted diluted EPS was $6.18, down from $8.02 in 2022 [5][13]. - Full-year net income was $504.9 million, or $5.80 per diluted share, compared to $823.2 million, or $9.02 per diluted share in 2022 [13]. - Net income for 2023 was $504,877, down 39% from $823,232 in 2022 [32]. - Adjusted net income for the year ended December 31, 2023, was $538.3 million, down from $731.7 million in 2022, a decrease of 26.4% [52]. Cash Flow and Investments - Net cash from operating activities for Q4 2023 increased by 22% to $302.6 million, while full-year net cash flow from operating activities rose to $1,013.8 million, a 4% increase from $971.6 million in 2022 [5][20]. - The company returned $409.1 million to shareholders in 2023, including $121.1 million in dividends and $288.0 million in share repurchases [20]. - Free cash flow for the year 2023 was $775,895,000, compared to $880,892,000 in 2022, a decrease of 11.9% [66]. - Cash flows from operating activities increased to $1,013,839 thousand in 2023, compared to $971,645 thousand in 2022, reflecting a growth of approximately 4.3% [37]. Dividends - The Board of Directors approved a quarterly dividend of $0.40, representing a 14% increase [5]. - TFI International declared a quarterly dividend of $0.40 per share, a 14% increase from $0.35 in Q4 2022 [21]. - The company paid dividends totaling $121,095 thousand in 2023, an increase from $97,321 thousand in 2022, representing a growth of approximately 24.4% [37]. Segment Performance - Logistics segment revenue increased by 28% in Q4 2023, while Package and Courier, Less-Than-Truckload, and Truckload segments saw declines of 9%, 6%, and 5% respectively [10]. - Operating income for Q4 2023 was $198.3 million, down from $216.9 million in Q4 2022, primarily due to weaker market demand [5][8]. - Operating income for the Package and Courier segment was $34,711 thousand in Q4 2023, down from $37,563 thousand in Q4 2022, a decline of approximately 4.9% [40]. - Operating income for Truckload in Q4 2023 was $50.66 million, a decrease of 12.7% from $71.84 million in Q4 2022 [44]. Assets and Liabilities - Total assets increased to $6,283,620 in 2023, up from $5,505,830 in 2022 [30]. - Total liabilities rose to $3,692,210 in 2023, compared to $3,042,760 in 2022 [30]. - Total assets less intangible assets as of December 31, 2023, were $4,264,319,000, compared to $3,913,720,000 in 2022, reflecting an increase of 9.0% [68]. Operational Efficiency - Adjusted operating ratio for Q4 2023 was 87.7%, slightly up from 87.4% in Q4 2022 [61]. - Adjusted operating ratio for Truckload segment increased to 87.3% in Q4 2023 from 86.1% in Q4 2022, indicating a decrease in operational efficiency [63]. - Free cash flow conversion rate improved to 83.3% in Q4 2023 from 74.5% in Q4 2022, indicating better efficiency in converting operating profit into free cash flow [64]. Future Outlook - TFI International will host a conference call on February 9, 2024, to discuss these results [22].

TFI International Inc. (NYSE:TFII) Q3 2023 Earnings Conference Call October 24, 2023 9:00 AM ET Conference Call Participants Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to TFI International's Third Quarter 2023 Results Conference Call. At this time, all participants are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] Please be advised that this conference call will contain statements that are forward-looking ...

Alain Bedard Operator Alain Bedard - President, CEO & Chairman Operator I will now turn the call over to Alain Bedard, Chairman, President and Chief Executive Officer of TFI International. Please go ahead, sir. Throughout our organization, we recognize the importance of profitability and cash flow. This is what allowed us to produce solid results during a difficult quarter with solid operating ratio across all four of our business segments. In turns, this focus on profitability and cash flow, as I've mentio ...

Alain Bedard - Chairman, President and Chief Executive Officer Please be advised that this conference call will contain statements that are forward-looking in nature and subject to a number of risks and uncertainties that could cause actual results to differ materially. Also, I would like to remind everyone that this conference call is being recorded on Wednesday, April 26, 2023. Our operating income during the first quarter was $166 million with an operating margin of 10.7% versus the year earlier period o ...

TFI International Inc. (NYSE:TFII) Q4 2022 Earnings Conference Call February 6, 2023 5:00 PM ET Company Participants Alain Bedard - Chairman, President and Chief Executive Officer Conference Call Participants Scott Group - Wolfe Research, LLC Kenneth Hoexter - Bank of America Merrill Lynch Walter Spracklin - RBC Capital Markets Ravi Shanker - Morgan Stanley Jordan Alliger - Goldman Sachs Group, Inc. Konark Gupta - Scotiabank Brian Ossenbeck - JPMorgan Chase & Co. Jason Seidl - Cowen & Co. Thomas Wadewitz - ...

Earnings Press Release Exhibit 99.1 For Immediate Release TFI International Announces 2022 Fourth Quarter and Full-Year Results Montreal, Quebec, February 6, 2023 – TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced its results for the fourth quarter and full year ended December 31, 2022. All amounts are shown in U.S. dollars. "TFI International successfully capped 2022 with strong fourth quarter results, generating slightly hig ...