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TFI Boosts Profits, Navigates Jump in TForce Freight Volume
- Yesterday, Montreal-based TFI International reported second-quarter revenue of $2.29 billion, a 12% year-over-year increase, with operating income rising 29% to $220.4 million.
- Alain Bédard, Chairman, President and Chief Executive Officer, credited strategic investments made in recent years for driving results that allowed the company to beat its earnings outlook.
- TFI's Truckload segment operating income rose 50% year-over-year, benefiting from diversified industrial end markets and specialized flatbed strength, while both Logistics and Less-Than-Truckload segments achieved double-digit growth.
- Strong performance drove free cash flow of $202.1 million, supporting balance sheet strength, as the Board of Directors approved a $0.47 quarterly dividend, a 4% increase over the prior year.
- TFI expects third-quarter adjusted diluted EPS between $1.70 and $1.80, assuming no significant changes in the operating environment, and projects full-year net capital expenditures between $225 million and $250 million.
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The Record
The Record‘Drive day and night’: TFI plans to roll out driverless trucks in U.S.
MONTREAL - Canada's biggest trucking company aims to roll out autonomous big-rigs in the United States next year, with testing slated to start within months.
·Niagara Falls, Canada
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The trucking specialist TFI International finished his second quarter with net profit and rising revenues.
·Montreal, Canada
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Total News Sources20
Leaning Left13Leaning Right2Center3Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
C 17%
11%
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