Segment growth: All business segments generated higher revenue and operating income, with Truckload segment operating income up 50%, driven by diversified industrial end markets and specialized and flatbed strength.
Acquisitions and organic improvement: Revenue and operating income increases were due to contributions from business acquisitions and organic growth, including margin improvements.
Pricing and market conditions: Improving market conditions and incremental pricing opportunities, especially in Less-Than-Truckload, contributed to results.
The current average analyst rating on the shares is buy, with 11 strong buy or buy ratings, 6 hold ratings and no sell or strong sell ratings.
The average consensus recommendation for the ground freight & logistics peer group is buy.
Wall Street's median 12-month price target for TFI International Inc is C$204.00, about 4% below its July 24 closing price of C$212.43.
The stock recently traded at 23 times the next 12-month earnings versus a P/E of 22 three months ago.
Quarterly results beat estimates
Canada transportation and logistics firm TFI International said second-quarter adjusted net income beat analyst expectations as revenue rose in all businesses.
The company also raised its quarterly dividend by 4% over the prior-year period.
Outlook for the third quarter and 2026
TFI expects third-quarter 2026 adjusted diluted EPS between $1.70 and $1.80.
The company sees 2026 net capital expenditures, excluding real estate, at $225 million to $250 million.
TFI expects third-quarter adjusted operating ratio improvement of 550-650 bps for Truckload, 250-350 bps for Logistics, and a comparable ratio for LTL.
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