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TFI International Announces 2024 Fourth Quarter and Full-Year Results
TFIITFI International (TFII) GlobeNewswire·2025-02-19 21:05

Core Insights - TFI International Inc. reported solid performance in Q4 2024, generating over 260millioninnetcashfromoperatingactivitiesandover260 million in net cash from operating activities and over 200 million in free cash flow, maintaining a full-year free cash flow of over 750millionforthethirdconsecutiveyear[2][4][32]−Thecompanyreduceddebtandexecutedtargetedacquisitions,alongsidea13750 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 1.97billioninQ42023,withrevenuebeforefuelsurchargeat1.97 billion in Q4 2023, with revenue before fuel surcharge at 1.83 billion compared to 1.67billionintheprioryear[3][4]−AdjustedEBITDAforQ42024was1.67 billion in the prior year [3][4] - Adjusted EBITDA for Q4 2024 was 315.3 million, slightly down from 320.9millioninQ42023,whileoperatingincomedecreasedto320.9 million in Q4 2023, while operating income decreased to 160.2 million from 198.3million[3][5][10]−NetincomeforQ42024was198.3 million [3][5][10] - Net income for Q4 2024 was 88.1 million, down from 131.4millioninQ42023,withdilutedEPSat131.4 million in Q4 2023, with diluted EPS at 1.03 compared to 1.53intheprioryear[6][11]SegmentPerformance−TheTruckloadsegmentsawa641.53 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 7.52billionin2023,withrevenuebeforefuelsurchargeat7.52 billion in 2023, with revenue before fuel surcharge at 7.30 billion compared to 6.42billionthepreviousyear[9][11]−Full−yearoperatingincometotaled6.42 billion the previous year [9][11] - Full-year operating income totaled 719.0 million, down from 757.6millionin2023,attributedtoweakermarketdemandandreducedgainsfromassetsales[10][11]CashFlowandShareholderReturns−Netcashfromoperatingactivitiesfor2024was757.6 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 1.01billionin2023,whilefreecashflowwas1.01 billion in 2023, while free cash flow was 768.6 million, slightly down from 775.9million[16][32]−Thecompanyreturned775.9 million [16][32] - The company returned 75.6 million to shareholders in Q4 2024, including 33.1millionindividendsand33.1 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]