breaking

TFI International's Truckload Division Surges While LTL Segment Lags

TFI International's truckload operations significantly outpaced its LTL business in the second quarter. Truckload revenue climbed 12.75% year-over-year, with operating ratio worsening 400 basis points to 86. Revenue per truck per week excluding fuel jumped 21%. The LTL division posted mixed results, with operating ratio worsening 100 basis points and revenue per hundredweight declining slightly. LTL revenue per shipment excluding fuel fell 2%. Adjusted EBITDA margins reached 24% for truckload and 18% for LTL. Company-wide adjusted earnings per share reached $1. TFI significantly reduced its fleet footprint, operating 11,987 trucks, 39,710 trailers, and 6,189 independent contractors at quarter-end versus 13,511 trucks, 42,726 trailers, and 6,044 independent contractors a year prior. Manufactured goods climbed to 19% of revenue while retail retreated to 16%.