TFI International reports lower profit, higher revenue in second quarter

By The Canadian Press on July 25, 2024.

MONTREAL – TFI International Inc. says it earned US$117.8 million in the second quarter, down from US$128.2 million a year earlier.

The Montreal-based transportation and logistics company says revenues were US$2.26 billion, up from US$1.79 billion during the same quarter last year.

Earnings per diluted share were US$1.38, down from $1.47 last year.

President and CEO Alain Bédard said TFI’s recent acquisition of Daseke Inc. helped drive performance during the quarter, adding integration work is already off to a strong start.

The company announced the acquisition in December, and the deal closed in April.

The recent quarter’s net income includes a US$19.7 million restructuring charge and an increase in interest expense of US$24 million related to financing the acquisition.

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

Companies in this story: (TSX:TFII)

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