TFI International reports Q1 adjusted EPS $1.24, consensus $1.36

Reports Q1 revenue $1.87B, consensus $1.9B. “TFI International performed well in a challenging environment, while making notable advancements in our US LTL business,” said Alain Bedard, Chairman, President and Chief Executive Officer. “Through strong execution, we’ve reached an important inflection point in our turnaround of TForce Freight, with rapidly improving service driving tonnage growth, resulting in revenue per shipment before fuel surcharge increasing 12%. Also noteworthy, our Logistics segment turned in very strong results, benefiting from last year’s acquisition of JHT. On a consolidated basis, during the first quarter TFI generated more than $200 million in net cash from operating activities, with our solid free cash flow and other recent balance sheet enhancements further strengthening our financial resources to strategically capitalize on market conditions. Illustrative of this is our recently closed acquisition of Daseke, whose attractive and complementary operations will add scale to our Truckload operations beginning this month, and we are already working with the team to enhance performance. Overall, we remain both strategic and prudent in our approach to the business, with an emphasis on service, efficiencies and cash flow in our drive to further expand shareholder value.”