Oct 23, 2023
TFI International Inc. reports US$133.3 million net income amid weaker demand
The Canadian Press
Even in a recession, TFI International is a stock you can still own: Analyst
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TFI International Inc. says its net income for the third quarter was US$133.3 million, down from US$245.2 million a year earlier.
The Montreal-based transportation company says revenue for the quarter ended Sept. 30 was US$1.9 billion, down from US$2.2 billion last year.
TFI says the decline in revenues was due in part to a reduction in volumes driven by weaker demand.
Earnings per diluted share were US$1.54, down from US$2.72.
Chairman, president and CEO Alain Bédard says the company executed well during a stretch of weaker demand.
He says the company is well-positioned to capitalize on an eventual pick-up in demand.
