2 C
Thursday, February 2, 2023

Margins, Profits Improves at TFI International

A strong trucking market allowed TFI International to boost its margins and profits in the second quarter.

The company reported Q2 net income of $80.4 million on revenue of $1.32 billion, an increase of 4%.

“Our consistent focus on profitable growth and operating efficiencies drove strong results across our entire business this quarter,” said Alain Bédard, chairman, president and chief executive officer. “We generated an operating margin of 10.5% compared to 6.5% a year earlier, with margin expansion at all four segments. In addition, we nearly doubled our net cash from operating activities. Looking ahead, TFI is uniquely positioned to capitalize on the evolving transportation dynamics across North America.”

For the six-month period ending June 30, TFI posted revenue of $2.51 billion, compared to $2.47 billion over the same period in 2017.