TFI International Q1 EPS Tops by $0.08 as LTL EBITDA Drops 14.4%
TFI International posted Q1 non-GAAP EPS of $0.69, beating by $0.08, and revenue of $1.95 billion, topping estimates by $50 million. Its LTL unit’s OR rose 220 basis points to 95.3% with EBITDA down 14.4%, Truckload revenue climbed 0.83% with EBITDA up 4%, and operating cash flow fell to $121.5 million.
1. Financial Highlights
TFI International reported Q1 non-GAAP EPS of $0.69, beating consensus by $0.08, and revenue of $1.95 billion, surpassing estimates by $50 million. The company delivered these results despite early-quarter weather challenges and introduced a consolidated LTL reporting system for U.S. and Canadian operations.
2. Segment Performance
The less-than-truckload unit saw its combined operating ratio increase 220 basis points to 95.3%, with operating income down 35.1% and adjusted EBITDA falling 14.4% to $79.2 million. In contrast, the Truckload segment posted a 0.83% revenue gain and a just over 4% rise in adjusted EBITDA.
3. Cash Flow and Outlook
Operating cash flow declined to $121.5 million from $193.6 million a year earlier and from $282.2 million in Q4, driven by higher accounts receivable relative to payables. Management plans to leverage free cash flow for dividends, strategic investments and further balance-sheet strengthening.