TFI International, Inc. (NYSE:TFII) Q1 2021 Earnings Conference Call April 28, 2021 8:30 AM ET Company Participants Alain Bedard - Chairman, President & CEO Conference Call Participants Scott Group - Wolfe Research Konark Gupta - Scotia Bank Allison Landry - Credit Suisse Kevin Chiang - CIBC Fadi Chamoun - BMO Capital Markets Tim James - TD Securities Jason Seidl - Cowen Cameron Doerksen - National Bank Financial Benoit Poirier - Desjardins Capital Walter Spracklin - RBC Sanjay Ramaswamy - Bank of America O ...

TFI International Inc. (NYSE:TFII) Q4 2020 Earnings Conference Call February 8, 2021 5:00 PM ET Company Participants Alain Bedard - President, Chief Executive Officer and Chairman Conference Call Participants Ravi Shanker - Morgan Stanley Allison Landry - Credit Suisse David Ross - Stifel Nicolaus Scott Group - Wolfe Research Walter Spracklin - RBC Capital Markets Tom Wadewitz - UBS Konark Gupta - Scotia Capital Jason Seidl - Cowen and Company Ken Hoexter - Bank of America Tim James - TD Securities Brian Os ...

TFI International Inc. (NYSE:TFII) Q3 2020 Results Earnings Conference Call October 23, 2020 8:10 AM ET Company Participants Alain Bédard - Chairman, President, Chief Executive Officer David Saperstein - Chief Financial Officer Conference Call Participants Ravi Shanker - Morgan Stanley Jason Seidl - Cowen Allison Landry - Credit Suisse Scott Group - Wolfe Research Walter Spracklin - RBC Capital Markets Tom Wadewitz - UBS Jordan Alliger - Goldman Sachs Mona Nazir - Laurentian Bank Sanjay Ramaswamy - Bank of ...

Financial Performance - Total revenue for Q2 2020 was $1.1 billion, down 17% year-over-year. Operating income decreased by 12% to $131 million, and adjusted EPS on a diluted basis was $1.04 compared to $1.18 in the prior year [12][13]. - Net cash from continuing operating activities was $228 million, up 61% from the previous year [13]. Business Segment Performance - The P&C segment, representing 14% of total segment revenue, saw revenue decline by 12% year-over-year, with operating income of $23 million compared to $30 million in the prior year [15]. - The LTL segment, accounting for 16% of total segment revenue, experienced a 28% decline in revenue year-over-year, but operating income increased by 10% to $33 million, aided by a Canadian wage subsidy [18]. - The truckload segment, the largest at 46% of total revenue, saw a 17% decline in revenue, but operating income rose by 3% to $70 million, supported by a Canadian wage subsidy [20]. - The logistics segment, representing 24% of total segment revenue, grew by 8% year-over-year, with operating income up 27% [23]. Market Trends - The company noted a significant shift from B2B to B2C business during the pandemic, with B2C activity increasing as traditional retail outlets closed [16][66]. - E-commerce demand remained strong throughout the quarter, benefiting logistics operations [24]. Company Strategy and Industry Competition - The company continues to pursue an asset-light business model and focuses on disciplined acquisitions to enhance operational efficiency [9][30]. - Management expressed confidence in the M&A environment, indicating potential for larger acquisitions in the future [46][50]. Management Commentary on Operating Environment and Future Outlook - Management acknowledged the challenges posed by COVID-19 but highlighted a strong recovery in June and positive signs for future performance [14][29]. - The company expects adjusted diluted EPS for the full year to be in the range of $3.40 to $3.75, with free cash flow projected between $425 million and $460 million [27]. Other Important Information - The company has reinstated full work weeks for many employees and resumed some capital expenditures [26]. - Financial leverage is at a multi-year low, with $1.1 billion in liquidity [24]. Q&A Session Summary Question: Can you walk us through the cost impacts related to COVID-19 in Q2? - Management discussed various costs incurred due to COVID-19, including sanitation and employee bonuses, and noted significant revenue drops in April [36][37]. Question: Has the M&A environment normalized for larger acquisitions? - Management indicated that while small acquisitions have been active, they are cautiously optimistic about larger deals in the near future [46][50]. Question: What are the trends in the U.S. truckload market? - Management noted a sharp recovery in activity and expressed confidence in the ability to re-price lower-yielding freight [55][58]. Question: How is the B2B business recovering? - B2B revenue was down about 15% in July compared to the previous year, with expectations of a permanent impairment due to shifts towards e-commerce [76][78]. Question: What is the outlook for free cash flow in the second half of the year? - Management indicated a decline in free cash flow due to tax payments and resumed capital expenditures [80][81].

TFI International Inc. (NYSE:TFII) Q1 2020 Earnings Conference Call April 22, 2020 8:30 AM ET Company Participants Alain Bédard - Chairman, President and Chief Executive Officer Conference Call Participants Jason Seidl - Cowen and Company Mona Nazir - Laurentian Bank Securities, Inc. Jack Atkins - Stephens Inc. Scott Group - Wolfe Research, LLC Thomas Wadewitz - UBS Ken Hoexter - Bank of America Merrill Lynch Konark Gupta - Scotiabank Brian Ossenbeck - JPMorgan Walter Spracklin - RBC Capital Markets Cameron ...

TFI International Inc. (OTC:TFIFF) Q4 2019 Earnings Conference Call February 10, 2020 5:00 PM ET Â Â Company Participants Alain Bédard – Chairman, President and Chief Executive Officer Conference Call Participants Jason Seidl – Cowen Jack Atkins – Stephens Inc Walter Spracklin – RBC Capital Mona Nazir – Laurentian Bank Konark Gupta – Scotiabank Cameron Doerksen – National Bank Financial Benoit Poirier – Desjardins Capital Operator Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to T ...

TFI International Inc. (OTC:TFIFF) Q3 2019 Results Earnings Conference Call October 25, 2019 8:00 AM ET Company Participants Alain Bedard - Chairman, President and Chief Executive Officer Conference Call Participants Konark Gupta - Scotiabank Cameron Doerksen - National Bank Benoit Poirier - Desjardins Fadi Chamoun - BMO Capital Markets Walter Spracklin - RBC Capital Markets David Ross - Stifel Gianluca Tucci - Echelon Wealth Partners Kevin Chiang - CIBC Operator Good morning, ladies and gentlemen, thank yo ...

TFI International Inc. (OTC:TFIFF) Q2 2019 Results Earnings Conference Call July 26, 2019 8:30 AM ET Company Participants Alain Bedard - Chairman, President and Chief Executive Officer David Saperstein - Chief Financial Officer Conference Call Participants Jason Seidl - Cowen Konark Gupta - Scotiabank Walter Spracklin - RBC Capital Markets Cameron Doerksen - National Bank Benoit Poirier - Desjardins Nav Malik - Industrial Alliance Kevin Chang - CIBC David Ross - Stifel Operator Good morning, ladies and gent ...

Financial Data and Key Metrics Changes - Total revenue grew 3% year-over-year to $1.2 billion, marking the highest revenue ever for the first quarter [9] - Operating income increased by 41% to $106 million, while adjusted EPS on a diluted basis rose by 40% to $0.77 [9] - Net cash from operating activities reached $161 million, up 178% year-over-year, and free cash flow was $143 million, up 172% [11] Business Line Data and Key Metrics Changes - P&C segment revenue before fuel surcharge grew slightly to $147 million, with operating income at $21 million [12][13] - LTL segment revenue before fuel surcharge increased slightly to $208 million, with operating income more than doubling to $28 million [14] - Truckload segment revenue before fuel surcharge rose 7% to $527 million, with operating income increasing to $51 million [15] - Logistics and Last Mile segment revenue before fuel surcharge was $224 million, down from $237 million in the prior year, but operating income grew 1% to $15 million [17] Market Data and Key Metrics Changes - The U.S. truckload market is experiencing pressure on volume due to weather conditions, but contract renewals are allowing for price adjustments of 3% to 6% [21] - The Canadian truckload segment is performing well, with expectations for continued improvements in operating ratios [50] Company Strategy and Development Direction - The company aims to generate profitable growth and return excess capital to shareholders, having completed three business acquisitions in a disciplined manner during the quarter [7] - The focus remains on optimizing business mix and asset utilization while leveraging technology to capitalize on e-commerce growth opportunities [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a free cash flow target of $400 million to $450 million for 2019, citing improved accounts receivable collection [35] - The company is cautious about the impact of IFRS 16 on financial metrics but anticipates a downward trend in depreciation and finance charges over the next few years [123] Other Important Information - The company returned $117 million to shareholders through dividends and share buybacks during the quarter [17] - The outlook for capital expenditures has been revised down to $200 million to $225 million for the year [18] Q&A Session All Questions and Answers Question: Recent TL pricing trends for U.S.-based truckload - Management noted that contract renewals are allowing for price adjustments of 3% to 6%, despite a challenging market environment [21] Question: M&A market for Specialty TL - Management indicated a focus on digesting recent acquisitions and being disciplined in future M&A activities, with opportunities still available [24] Question: Changes to EPS expectations for the full year - Management maintained EPS guidance of $3.80 to $3.90 for 2019, with potential for upward revision based on Q2 performance [31] Question: Free cash flow expectations for the full year - Management expects free cash flow to be in the range of $400 million to $450 million for 2019, driven by improved operational efficiencies [35] Question: Update on BeavEx acquisition - Management highlighted the strategic fit of BeavEx, projecting a contribution of $10 million to $15 million to the bottom line due to minimal overhead [90] Question: LTL margins and subcontracting costs - Management explained that improved margins in the LTL segment were achieved through operational efficiencies and the elimination of low-margin business [128]

TFI International, Inc. (OTC:TFIFF) Q4 2018 Earnings Conference Call February 28, 2019 8:30 AM ET Company Participants Alain Bédard - Chairman, President & CEO Conference Call Participants Mona Nazir - Laurentian Bank Securities Scott Schoenhaus - Stephens Inc. Navdeep Malik - Industrial Alliance Securities Inc. Gianluca Tucci - Echelon Wealth Partners David Ross - Stifel, Nicolaus & Company Benoit Poirier - Desjardins Securities Operator Good morning, ladies and gentlemen, thank you for standing by. Welcom ...