TFI International (US:TFII) Globenewswireยท2025-02-19 21:05Core Insights - TFI International Inc. reported solid performance in Q4 2024, generating over $260 million in net cash from operating activities and over $200 million in free cash flow, maintaining a full-year free cash flow of over $750 million for the third consecutive year [2][4][32] - The company reduced debt and executed targeted acquisitions, alongside a 13% increase in quarterly dividends, indicating a strong financial position and commitment to returning capital to shareholders [2][17] Financial Highlights - Total revenue for Q4 2024 was $2.08 billion, up from $1.97 billion in Q4 2023, with revenue before fuel surcharge at $1.83 billion compared to $1.67 billion in the prior year [3][4] - Adjusted EBITDA for Q4 2024 was $315.3 million, slightly down from $320.9 million in Q4 2023, while operating income decreased to $160.2 million from $198.3 million [3][5][10] - Net income for Q4 2024 was $88.1 million, down from $131.4 million in Q4 2023, with diluted EPS at $1.03 compared to $1.53 in the prior year [6][11] Segment Performance - The Truckload segment saw a 64% revenue increase, primarily due to the acquisition of Daseke, while the Less-Than-Truckload and Logistics segments experienced declines of 13% and 14%, respectively [8][12] - Operating income in the Truckload segment increased by 18%, while the Less-Than-Truckload and Logistics segments declined by 34% and 22%, respectively [8] Full-Year Results - Total revenue for 2024 was $8.40 billion, up from $7.52 billion in 2023, with revenue before fuel surcharge at $7.30 billion compared to $6.42 billion the previous year [9][11] - Full-year operating income totaled $719.0 million, down from $757.6 million in 2023, attributed to weaker market demand and reduced gains from asset sales [10][11] Cash Flow and Shareholder Returns - Net cash from operating activities for 2024 was $1.06 billion, compared to $1.01 billion in 2023, while free cash flow was $768.6 million, slightly down from $775.9 million [16][32] - The company returned $75.6 million to shareholders in Q4 2024, including $33.1 million in dividends and $42.4 million in share repurchases [17] Strategic Initiatives - TFI International plans to pursue re-domiciliation from Canada to the United States, reflecting its operational focus, with approximately 70% of its operations based in the U.S. [18]