Tfi International Stock Earnings Reports

TFI International reported stronger-than-expected Q2 2026 results with adjusted diluted EPS of $1.85 (up 38% YoY), consolidated operating income of $220 million (margin 11.6%, +210 bps YoY), and over $200 million of free cash flow. All three segments produced double-digit operating income growth: LTL (38% of segment revenue) delivered $725 million revenue, 88.5% adjusted OR and $86 million operating income (+17% YoY); Truckload (40% of segment revenue) produced $761 million revenue, revenue per truck per week excluding fuel up ~13% YoY (accelerating through the quarter), operating income of $106 million (+50% YoY) and an 86.1% adjusted OR (improving ~400 bps YoY); Logistics (23% of segment revenue) grew revenue 10% to $432 million and operating income +32% to $50 million. Funded debt/EBITDA improved to 2.4 and quarterly dividends of ~ $40 million were paid. Management reiterated FY net capex guidance of $225–$250 million and provided Q3 EPS guidance of $1.70–$1.80. Key near-term priorities: (1) capitalize on a supply-driven truckload recovery (pricing improvement and asset-rightsizing) and continue integration/specialization of acquired truckload businesses; (2) address U.S. LTL pricing/service discrepancies—particularly high-volume blanket 3PL business that diluted yield—through targeted pricing, new pricing tools and commercial/operational fixes (some shipment reductions expected as prices are reset); (3) continue claims management improvements (onsite settlements) and clean-up of reserves; (4) pursue selective M&A while maintaining a strong balance sheet; and (5) pilot and potentially scale autonomous line-haul technology. Management emphasized durable truckload supply constraints supporting pricing, while LTL remains softer and will require more deliberate commercial and service actions.