TFI International Q1 Operating Income Falls 16% to $96.6M, EPS $0.53 and Dividend Raised 4%
TFI International reported Q1 operating income of $96.6 million and net income of $43.3 million versus $114.6 million and $56.0 million year-ago, with diluted EPS at $0.53 (adjusted $0.69). Net cash from operations fell to $121.5 million, while the Board approved a 4% higher quarterly dividend of $0.47.
1. First-Quarter Financial Results
TFI International delivered total revenue of $1.949 billion for Q1 2026, down from $1.964 billion in Q1 2025. Operating income declined to $96.6 million from $114.6 million, net income fell to $43.3 million from $56.0 million, and diluted EPS slid to $0.53 (adjusted $0.69).
2. Segment Performance Analysis
The Truckload segment saw revenue before fuel surcharge increase 1% and operating income rise 14% to $55.8 million. Logistics revenue edged up slightly with operating income up 10% to $34.4 million, while Less-Than-Truckload revenue dropped 3%, causing its operating income to fall 35% to $30.6 million.
3. Cash Flow and Dividend Increase
Net cash from operating activities decreased to $121.5 million from $193.6 million due to working-capital pressures. Free cash flow of $123.7 million supported a 4% quarterly dividend increase to $0.47 per share.
4. Outlook and Guidance
TFI International expects Q2 adjusted diluted EPS between $1.50 and $1.60 and full-year net capital expenditures of $225 million–$250 million, assuming no major shifts in the operating environment.