TFI International reports Q1 adjusted EPS 69c, consensus 61c

Reports Q1 revenue $1.95B, consensus $1.9B. “We easily exceeded our first quarter earnings outlook on stronger revenue and higher profitability for both Truckload and Logistics despite adverse weather early in the quarter, thanks to the hard work of our talented team and benefitting from our strategic investments in recent years,” said Alain Bedard, chairman, president and CEO. “Acquisitions strategically pursued during the weaker cycle and enabled by our strong capital position have enhanced our diversified portfolio of operating companies, and the resulting mix of industrial end market exposure is beginning to benefit our operating results. Combined with our team’s sharp focus on efficiencies and bottom-line profitability, TFI is well positioned as freight dynamics build on the improvement in March. All the while, we continue to fortify our balance sheet with ample free cash flow that facilitates our timely and strategic allocation of capital as well as our attractive dividend, with the return of excess capital a cornerstone of our mission to produce long-term shareholder value.”