Trucking firm TFI sees second-quarter profit dip as market weakness persists

CTV News

11 hours ago

A Canada Border Services officer looks over at a truck as it waits to be inspected at the Highway 55 Port of Entry in Stanstead, Que., Thursday, March 13, 2025. THE CANADIAN PRESS/Christinne Muschi
TFI International Inc. has reported a drop in second-quarter profit as weak demand took a toll on the volume of goods it hauls.
Canada's largest trucking firm reported net income of US$98.2 million for the three months ended June 30, down from US$115.7 million a year earlier.
That amounted to earnings of US$1.17 per diluted share, a decrease from US$1.36 during the same 2024 period.
Revenue was US$2.04 billion versus US$2.26 billion in the prior-year quarter.
Montreal-based TFI says the decrease was mainly due to reduced volumes driven by weaker end-market demand.
Chief executive Alain Bédard says the company was able to perform despite still-subdued market conditions and he's pleased that during the quarter TFI was able to pay a dividend and buy back shares.
This report by The Canadian Press was first published July 28, 2025.