Boca Raton, FL, Feb. 24, 2026 (GLOBE NEWSWIRE) -- IB Capital is pleased to announce it served as exclusive M&A advisor to Benchmark Logistics LLC, and its wholly owned subsidiary, Triangle Warehouse, Inc., in their sale to TFI International Inc., which closed in February 2026. Headquartered in Minneapolis, Benchmark Logistics, together with Triangle Warehouse, provides dedicated transportation and warehouse services to a diverse customer base across the Upper Midwestern United States. TFI International Inc. ...

Core Viewpoint - TFI International is experiencing challenges in the first quarter of 2026, with expectations of lower earnings compared to the previous year due to various factors including weather impacts and ongoing transitions in operations [1][2][4]. Financial Performance - TFI reported adjusted earnings per share of $1.09 for the first quarter, exceeding previous projections of 80 to 90 cents for the fourth quarter [2] - The company anticipates adjusted earnings for the first quarter of 2026 to be between 50 cents and 60 cents per share, a decline from 76 cents per share in the first quarter of 2025 [2] - TFI's stock closed down 93 cents, or 1.49%, to $61.67 following the earnings announcement, while the S&P 500 increased by 0.56% on the same day [6] Operational Challenges - A significant factor in the expected decline in earnings is a 250 basis point drop in U.S. LTL operations, which have been a focus for improvement [3] - Weather conditions have further exacerbated operational challenges, leading to an estimated loss of $5 million to $6 million due to increased overtime and inefficiencies [4][5] - January was particularly difficult for TFI, but there was an improvement in LTL volumes in February, suggesting that first quarter volumes may be flat compared to 2025 [6] Market Reaction - TFI's stock has seen a decline of 15.3% over the past year and 10.55% in the last month, influenced by a broader selloff in the logistics and trucking sector [7] - Despite recent challenges, TFI's stock has increased by 21.18% over the last three months [7] Specialty Truckload Operations - The earnings call included more discussion than usual regarding TFI's truckload operations, indicating a shift in focus from the traditional emphasis on LTL [8]

Core Insights - TFI International's adjusted operating ratio in U.S. LTL improved to 95.3% in Q4 from 97.3% a year ago, indicating operational efficiency despite challenging market conditions [3] - The Canada-based LTL adjusted operating ratio rose to 81.7%, up from 81% year-over-year, with claims ratio nearing zero [3] - Operating income across segments, including TL and logistics, decreased to $127.2 million from $160.2 million year-over-year [3] Market Outlook - The industrial economy is currently slow, prolonging a difficult LTL environment, while TL has a more favorable outlook due to driver supply constraints [4] - TFI projects market dynamics to normalize by late 2026, likely in Q3 or Q4, particularly for divisions moving Paccar and Freightliner trucks [4] - Logistics is expected to perform significantly better in Q4 2026 compared to Q4 2025 as OEM customers are anticipated to be busier [5] Revenue Performance - LTL revenue before fuel surcharge fell to $660.5 million in Q4 2025 from $737.3 million a year ago, reflecting tough market conditions [7] - U.S. LTL revenue specifically declined by 11% to $501.3 million, constituting over a quarter of the company's total revenue [7] - The CEO indicated that the LTL segment remains in a difficult environment and anticipates this trend to continue throughout 2026 [7]

Core Insights - TFI International's U.S. LTL division showed signs of improvement in Q4 2025, but overall performance reflected continued weaknesses in the freight market [1][7] Financial Performance - The adjusted operating ratio (OR) for U.S. LTL improved to 95.3% from 97.3% year-over-year, indicating operational efficiency gains [2] - Average weight per shipment increased by 4.6% to 1,284 pounds from 1,227 pounds, a targeted area for improvement by management [2] - Revenue per hundredweight excluding fuel decreased by 5.8% to $26.13 from $27.73, while total tonnage fell by 6.8% to 756, reflecting challenges in the freight market [4] - Adjusted EBITDA for total LTL operations declined to $115.1 million from $123.5 million, with a total LTL revenue drop of 9.5% [5] Operational Metrics - The average length of haul in the U.S. decreased by 6% to 1,122 miles from 1,194 miles, indicating potential inefficiencies compared to Canadian operations [3] - The total number of shipments in the U.S. LTL segment fell by 10.89% to 1.178 million from 1.322 million [6] - The adjusted operating ratio for the entire company was 92.3%, deteriorating from 91.2% a year earlier, while the truckload segment's OR also worsened to 93.2% from 91.5% [7]

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Core Insights - C.H. Robinson's stock experienced a significant decline of 14.54% amid a broader market selloff affecting logistics and trucking companies, closing at $179.48 after reaching a 52-week high of $203.34 on February 6 and a low of $84.68 on April 9 [1][3] - The company issued a statement defending its AI strategy and expressed confidence in its future performance and ongoing share repurchases, although it did not directly address the stock price drop [3] Company Performance - C.H. Robinson's stock was one of the hardest hit among logistics firms, alongside RXO, which fell 20.45%, and Landstar, which declined 15.6% [3] - Other logistics companies like Expeditors International also faced declines, with a drop of 13.18% [4] Market Context - The selloff was attributed to concerns that companies in the logistics and trucking sectors could be further disrupted by AI advancements, impacting their stock performance [5] - The S&P 500 index fell by 1.57% on the same day, indicating a broader market trend [6] - Some stocks showed slight recovery the following day, with C.H. Robinson up 3.42% and RXO up 2.77% [6]

分组1 - C.H. Robinson Worldwide (CHRW) reported quarterly earnings of $1.23 per share, exceeding the Zacks Consensus Estimate of $1.12 per share, and showing an increase from $1.21 per share a year ago, resulting in an earnings surprise of +9.73% [1] - The company posted revenues of $3.91 billion for the quarter ended December 2025, which was below the Zacks Consensus Estimate by 1.18%, and a decrease from $4.18 billion in the same quarter last year [2] - C.H. Robinson has surpassed consensus EPS estimates for the last four quarters but has not beaten consensus revenue estimates during the same period [2] 分组2 - The stock has gained approximately 12.2% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.26 on revenues of $4.12 billion, and for the current fiscal year, it is $5.84 on revenues of $17.11 billion [7] - The Transportation - Services industry, to which C.H. Robinson belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

M&A Activity in the Freight Industry - Large carriers maintained a cautious approach in 2025, focusing on asset utilization and cost-cutting, resulting in limited M&A activity among large asset-based carriers [1] - Smaller deals occurred in the trucking and logistics sectors, but significant transactions involving large carriers were scarce [1] - Serial acquirers like Heartland Express and Werner Enterprises are facing challenges in stabilizing operations amid four consecutive years of weak demand in the freight market [2] Future Outlook - Anticipation of larger deals returning in 2026 as trade conditions improve, freight volumes stabilize, and interest rates decrease [3] - Recent cost-cutting measures among carriers could enhance cash flow generation, potentially leading to a more active M&A environment in the upcoming year [3] Specific Company Developments - Schneider National typically engages in large deals every 12 to 18 months, positioning itself for a significant acquisition by summer 2026 [4] - Knight-Swift Transportation is seeking to complete a national less-than-truckload network but has encountered challenges in its recovery efforts [4] - Forward Air is exploring strategic options, including a potential sale, following pressure from shareholders and a strategic review initiated in January 2025 [6] - Forward Air faced backlash from investors after announcing the acquisition of Omni Logistics, which was perceived to dilute equity and increase debt [7] - DSV is looking to sell USA Truck, acquired during its purchase of DB Schenker, as it does not align with its asset-light business model [8]

Core Insights - ZTO Express (Cayman) Inc. is currently favored over TFI International Inc. for value investors due to its stronger earnings estimate revision activity and more attractive valuation metrics [3][7] Valuation Metrics - ZTO has a forward P/E ratio of 12.74, significantly lower than TFII's forward P/E of 25.43 [5] - ZTO's PEG ratio stands at 4.11, while TFII's PEG ratio is higher at 6.10, indicating ZTO's better valuation relative to its expected EPS growth [5] - ZTO's P/B ratio is 1.39 compared to TFII's P/B of 3.31, further highlighting ZTO's more favorable market value versus book value [6] Analyst Outlook - ZTO holds a Zacks Rank of 1 (Strong Buy), indicating a positive analyst outlook, while TFII has a Zacks Rank of 5 (Strong Sell), suggesting a negative outlook [3][7] - The overall assessment indicates that ZTO is perceived as a superior investment option for value investors at this time [7]

Core Viewpoint - ZTO Express (Cayman) Inc. is currently viewed as a more attractive investment option compared to TFI International Inc. based on valuation metrics and earnings outlook [3][7]. Valuation Metrics - ZTO has a forward P/E ratio of 12.82, significantly lower than TFI's forward P/E of 23.63, indicating ZTO may be undervalued [5]. - The PEG ratio for ZTO is 4.13, while TFI's PEG ratio is 5.67, suggesting ZTO has a more favorable growth outlook relative to its valuation [5]. - ZTO's P/B ratio stands at 1.36, compared to TFI's P/B of 3.08, further supporting the notion that ZTO is undervalued [6]. Earnings Outlook - ZTO holds a Zacks Rank of 1 (Strong Buy), reflecting a positive revision trend in earnings estimates, while TFI has a Zacks Rank of 5 (Strong Sell), indicating a negative outlook [3][7]. - The improving earnings outlook for ZTO positions it as a superior value option in the current market [7].