MONTREAL – TFI International Inc. says profits fell 40 per cent in its latest quarter amid weaker shipping demand from consumers and businesses.
The country’s largest trucking firm is reporting net income of US$56 million in the three months ended March 31 versus $92.8 million in the same period a year earlier.
TFI, which keeps its books in U.S. dollars, says first-quarter revenue rose five per cent year-over-year to US$1.96 billion from US$1.87 billion.
The Montreal-based company says the increase stemmed from corporate acquisitions, offset by smaller cargo volumes “driven by weaker end market demand.”
On an adjusted basis, diluted earnings dropped 39 per cent to 76 cents US per share from US$1.24 the year before.
The outcome notched well below analysts’ expectations of 96 cents US per share, according to financial markets firm LSEG Data & Analytics.
This report by The Canadian Press was first published April 23, 2025.
Companies in this story: (TSX:TFII)
