TFI International Inc. (TSX: TFII, NYSE: TFII) Q2 2025 Earnings | 07/28/2025

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TFI International Inc. reported Q2 2025 results that reflected ongoing macro and tariff-driven challenges across its North American network, particularly in the less-than-truckload (LTL) and truckload segments. Total revenue for the quarter fell 10% year-over-year to $2.04 billion, primarily due to decreased volumes in LTL and softer cross-border industrial shipping demand as steel and aluminum tariffs continued to bite. Net income was $98.2 million, down 18% from the prior year. Adjusted net income came in at $112 million, translating to adjusted earnings per share (EPS) of $1.34—beating analyst estimates, but still representing a decline from last year’s $1.71. The company maintained robust free cash flow, which rose to $182 million for the quarter despite the revenue contraction. Segment performance reflected the challenging environment: LTL revenue dropped 13% to $703.7 million with operating income down to $74 million and an operating ratio of 89.5%. U.S. LTL operations, in particular, were pressured, seeing revenue declines and a higher operating ratio of 94.0. Truckload revenue declined 6% to $712.3 million with an operating ratio of 90.1%, while the logistics unit’s revenue fell 12% to $393.1 million. TFI’s cost discipline was evident, with total operating expenses falling by $191 million year-over-year, and operating income coming at $170.2 million. During the quarter, the company returned $124 million to shareholders via $85 million in share repurchases and $39 million in dividends, aided by a healthy funded debt-to-EBITDA ratio of 2.4x and a stable cash position. Despite weaker top-line results, leadership highlighted several positives: improved cash generation, successful cost containment, benefits from management and operational changes made over the last year, and a growing contribution from technology-driven efficiency initiatives. CEO Alain Bédard reiterated a cautious, but constructive, outlook—pointing to volume recovery potential if tariff disputes are resolved, and emphasizing ongoing terminal and fleet optimization in the U.S. LTL unit. TFI International reaffirmed its commitment to the asset-light strategy, targeting resilient margins and long-term shareholder returns. Looking ahead, management guided Q3 2025 adjusted EPS in the range of $1.10–$1.25 and anticipated net capital expenditures of approximately $200 million for the year. About Inside Ticker: For more expert analysis and real-time updates on TFI International Inc. (TSX: TFII, NYSE: TFII) and other market movers, follow Inside Ticker and visit http://www.insideticker.com/ for in-depth reports, financial insights, and the latest news on leading companies. #TFIInternational #TFII #Q22025 #Earnings #FinancialResults #LTL #Truckload #Logistics #Revenue #NetIncome #OperatingRatio #FreeCashFlow #ShareRepurchase #Dividend #CostDiscipline #StockMarket #InsideTicker #Guidance #Tariffs #OperationalExcellence #CashFlow #2025Outlook #AssetLight #TerminalOptimization #DebtManagement #NorthAmerica #Trucking #LogisticsIndustry