TFI International reports lower earnings for first quarter, revenue rises

MONTREAL — TFI International Inc. says its net income for the first quarter was US$92.8 million, down from US$111.9 million a year earlier.

The Montreal-based transportation and logistics company says revenue totalled US$1.87 billion, up from US$1.85 billion during the same quarter last year.

The company said its operating income decreased due to lower revenues and volumes associated with freight, among other factors.

Diluted earnings per share were US$1.09, down from US$1.27.

President and CEO Alain Bédard says the company "performed well in a challenging environment."

He added that the recently closed acquisition of Daseke will add scale to TFI's truckload operations beginning this month.

This report by The Canadian Press was first published April 25, 2024.

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The Canadian Press