TFI International (US:TFII)2025-10-30 20:19Financial Performance - Total revenue for Q3 2025 was $1,968,671, a decrease of 9.9% compared to $2,184,583 in Q3 2024[4] - Net income for Q3 2025 was $84,689, down 32.8% from $125,871 in Q3 2024[6] - Operating income decreased to $153,314 in Q3 2025, a decline of 23.8% from $201,176 in Q3 2024[4] - The company reported a total comprehensive income of $62,667 for Q3 2025, compared to $150,418 in Q3 2024[6] - For the nine months ended September 30, 2025, total revenue was $5,970,679, a decrease of 6.0% from $6,319,943 in the same period of 2024[36] - Basic earnings per share for the nine months ended September 30, 2025, was $2.87, a decrease from $3.96 for the same period in 2024[84] Assets and Liabilities - Total assets as of September 30, 2025, were $7,112,158, a slight decrease from $7,165,826 as of December 31, 2024[2] - Total liabilities decreased to $4,473,524 as of September 30, 2025, compared to $4,492,551 as of December 31, 2024[2] - The company’s retained earnings as of September 30, 2025, were $1,763,754, down from $1,838,707 as of December 31, 2024[2] - The company reported a total liability of $4,473,524 as of September 30, 2025, down from $4,747,966 in the previous year, reflecting a decrease of 5.8%[36] - The total long-term debt as of September 30, 2025, is $2,313,366 thousand, slightly up from $2,309,428 thousand on December 31, 2024[67] Cash Flow - Net cash from operating activities for the nine months ended September 30, 2025, was $695.592 million, down 13.1% from $800.287 million in the same period of 2024[10] - Cash flows used in investing activities for the nine months ended September 30, 2025, amounted to $173.087 million, a significant decrease from $1.173 billion in the same period of 2024[10] - Cash and cash equivalents increased to $31,613 as of September 30, 2025, from zero as of December 31, 2024[2] - Cash and cash equivalents at the end of the period were $31.613 million, down from $55.218 million at the end of the same period in 2024[10] Expenses - Personnel expenses for Q3 2025 were $600,205, a decrease of 6.0% from $638,826 in Q3 2024[4] - The company incurred net finance costs of $41.585 million for the three months ended September 30, 2025, compared to $40.008 million in 2024, reflecting a 3.9% increase[10] - The total materials and services expenses for the nine months ended September 30, 2025 amounted to $2,947,559, a decrease from $3,138,831 in the same period of 2024[101] Taxation - Income tax expense for the three months ended September 30, 2025, was $27.04 million, compared to $35.30 million for the same period in 2024, reflecting a decrease of 23.4%[20] - The Group's total income tax expense for the nine months ended September 30, 2025, was $77.70 million, down from $109.61 million for the same period in 2024[20] Business Acquisitions - The company acquired three businesses in 2025, contributing $7.3 million in revenue and a net loss of $0.1 million since the acquisitions[42] - The company estimates that had the acquired businesses been included from January 1, 2025, they would have contributed approximately $22.1 million in revenue and $0.8 million in net income for the nine months ended September 30, 2025[43] Shareholder Activities - The company repurchased 2,291,295 common shares at a weighted average price of $90.98 per share, totaling $208.5 million during the nine months ended September 30, 2025[82] - The company repurchased 190,000 common shares between October 1, 2025, and October 30, 2025, at a total cost of $17.4 million[108] Other Financial Metrics - The company reported a gain on the sale of property and equipment of $(1.626) million for the three months ended September 30, 2025, compared to $(3.378) million in 2024[10] - The net change in non-cash operating working capital for the three months ended September 30, 2025, is $48,799 thousand, compared to $53,444 thousand for the same period in 2024[60]