TFI's Bedard: Buying UPS' LTL operations was not a mistake [Yahoo! Finance]
TFI International Inc. Common Shares (TFII)
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Source: Yahoo! Finance
Alain Bedard, the CEO of TFI International, assured analysts on the company's earnings call Tuesday that he wasn't sorry the company bought less-than-truckload carrier UPS Freight in early 2021. “If you asked me the question, ‘Hey, you think that you made a mistake with this purchase?'” Bedard said, “Not at all.” But the fact that the question even came up, as the fourth anniversary of the acquisition looms in just a few months, highlights the fact that TFI's LTL operations, mostly made up of the legacy UPS Freight business, remain a significant laggard in the trucking conglomerate's overall performance. For example, the operating ratio at TFI's U.S. LTL operations in the third quarter, which ended Sept. 30, was 92.2%. That is a deterioration of 140 basis points from the 90.8% recorded in the third quarter of 2023. In Canada, TFI's LTL operations posted an improved OR of 76.3%, compared to 77.2% a year ago. While none of TFI's U.S. peers in the LTL segment have yet posted t
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News
- UPS to Pay $45 Million SEC Penalty Over Improper Valuation [Yahoo! Finance Canada]Yahoo! Finance Canada
- UPS Hit With $45 Million Penalty by SEC Over Improper Valuation [Yahoo! Finance]Yahoo! Finance
- TFI International (TSX:TFII) Eyes Growth with Product Innovations and AI Investments Amid Market Challenges [Yahoo! Finance]Yahoo! Finance
- TFI International Inc. (NYSE: TFII) had its price target raised by analysts at Citigroup Inc. from $158.00 to $170.00. They now have a "buy" rating on the stock.MarketBeat
- TFI International Inc. (TSE:TFII) is favoured by institutional owners who hold 73% of the company [Yahoo! Finance]Yahoo! Finance
TFII
Sec Filings
- 11/12/24 - Form SC
- 10/28/24 - Form 6-K
- 10/22/24 - Form 6-K
- TFII's page on the SEC website