After market close yesterday, TFI International (TSE:TFII) (NYSE:TFII), a leading North American transportation and logistics firm, reported its Q2-2023 earnings results. Although the company missed both revenue and earnings-per-share (EPS) expectations, the stock hit a new all-time high today. Please note that all figures are in U.S. dollars unless otherwise stated.
TFI’s revenue reached $1.79 billion, less than analysts’ expectations of $1.93 billion and much lower than last year’s revenue figure of $2.42 billion. All of its operating segments saw declines in revenue.
Further, adjusted diluted EPS was at $1.59, falling short of the expected $1.73 and last year’s EPS of $2.61.
TFI’s operating income in the first quarter was $192.4 million, a decrease from the $391 million seen in Q2 2022. The decline can be attributed to reduced freight volumes, non-recurring costs, and transition expenses in the U.S. Less-Than-Truckload segment. Moreover, the company’s free cash flow fell from $309.6 million to $138.1 million.
Is TFII Stock a Buy, According to Analysts?
According to analysts, TFII stock comes in as a Strong Buy based on 13 Buys and three Holds assigned in the past three months. The average TFII stock price target of C$175.62 implies 1.4% upside potential.
If you’re wondering which analyst you should follow if you want to buy and sell TFII stock, the most accurate analyst covering the stock (on a one-year timeframe) is Jason Seidl of TD Cowen, with an average return of 47.66% per rating and a 79% success rate. Click on the image below to learn more.
