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TFI International earns US$131.4 million in fourth quarter

MONTREAL — TFI International Inc. says it earned US$131.4 million in the fourth quarter, down from US$153.5 million a year earlier.

The Montreal-based transportation and logistics company says revenue for the quarter ended Dec. 31 was US$1.97 billion, up from US$1.96 billion during the same quarter last year.

The company says the increase in revenue is primarily due to business acquisitions, offset by reduced volumes driven by weaker end market demand.

Diluted earnings per share were US$1.53, down from US$1.74.

TFI chief executive Alain Bédard says the company stands to benefit in 2024 from its recent acquisition of JHT Holdings Inc., and its acquisition of Daseke expected to close in the second quarter.

He says the company is seeking "highly strategic investment opportunities" as it looks ahead.

This report by The Canadian Press was first published Feb. 8, 2024.

Companies in this story: (TSX:TFII)

The Canadian Press