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Business Wire
12-05-2025
- Business
- Business Wire
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of TFI International
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against TFI International Inc. ('TFI' or the 'Company') (NYSE: TFII) and reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company was losing small and medium business customers; (2) that, as a result, the Company's TForce revenue was declining; (3) that TFI was experiencing difficulties managing its costs; (4) that, as a result of the foregoing, the profitability of its largest business segment was declining; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On February 20, 2025, TFI released its fourth quarter 2024 financial results, missing consensus estimates on EPS and revenue. In an earnings call held the same day, TFI's President & Chief Executive Officer, Alain Bedard, reported the Company is 'losing the small and medium-sized . . . customers' and this 'really accelerated in Q4.' Bedard further described the Company's efforts to control costs as 'like a dog chasing his tail.' On this news, TFI's stock price fell $26.13, or 20.5%, to close at $101.48 per share on February 20, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding TFI's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the TFI International class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Yahoo
23-04-2025
- Business
- Yahoo
First look: Another disappointing LTL quarter at TFI International
The stock of TFI International took a significant downturn in post-close trading Wednesday after earnings that once again can only be described as disappointing. At approximately 5:30 p.m., TFI International stock was down about 2% to $76.85. It had been down by more immediately after the close. TFI stock had weakened by the end of the regular trading day, falling 0.19% at the close to $78.43. It is down about 42% in the past three months. According to SeekingAlpha, non-GAAP earnings of 76 cents a share at TFI fell short of forecasts by 18 cents, while revenue of $1.96 billion missed analyst forecasts by $100 fate of the trucking conglomerate has increasingly been tied to the operations of its U.S. LTL operations, which contains the legacy business of UPS Freight and operates as TForce Freight. However, revenue in its truckload group excluding fuel was up sharply from a year ago as a result of acquisitions, increasing to $662.9 million from $397.7 million. Meanwhile, total LTL operations excluding fuel had revenue of $679.9 million, down from $783.5 million a year ago. Various operating metrics for the U.S. LTL group were all negative. Revenue per hundredweight excluding fuel was down 7.23% from the corresponding quarter in 2024. Revenue per shipment excluding fuel dropped a little more than 4%. Adjusted operating ratio was down 630 basis points to 98.9% from 92.6%. In earnings calls with analysts, CEO Alain Bedard has compared the U.S. LTL operations unfavorably to its Canadian operations. The Canadian LTL division had an OR of 80.2% in the quarter, an improvement from 80.9%. Revenue per shipment excluding fuel rose slightly, but revenue per hundredweight with or without fuel declined for the Canadian LTL operating income rose to $48.8 million from $41.5 million, though that 17.5% increase paled compared to the more than 66% increase in revenue. Meanwhile, operating income in LTL was $47.1 million on revenue before fuel of $679 million. The corresponding numbers from a year ago were operating income of $85 million on $783.5 million in revenue. In the company's earnings release, Bedard did not focus on any operating metrics. 'TFI International continues to navigate industrywide freight demand weakness by following long held core operating principles, including an overarching focus on robust free cash flow as evidenced by a 40% year-over-year increase during the first quarter,' he said. He also said the company is on 'strong financial footing' that enables TFI to 'take a strategic approach to cyclicality, making targeted investments while our hardworking team drives operational excellence across the organization.' He touted the cash returned to shareholders via dividends or buybacks as well. Bedard's call with analysts is at 9 a.m. EDT Thursday. Unlike most CEOs in the logistics sector, Bedard is always the only company executive on the call. More articles by John Kingston TFI acknowledges US LTL 'disaster' and difficult Daseke integration in Q4 UPS hit with SEC fine over its internal valuation of UPS Freight before TFI sale TFI's Bedard: Buying UPS' LTL operations was not a mistakeThe post First look: Another disappointing LTL quarter at TFI International appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
TFI International Inc. (TSE:TFII) is favoured by institutional owners who hold 74% of the company
Institutions' substantial holdings in TFI International implies that they have significant influence over the company's share price 50% of the business is held by the top 10 shareholders Recent purchases by insiders This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. A look at the shareholders of TFI International Inc. (TSE:TFII) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are institutions with 74% ownership. Put another way, the group faces the maximum upside potential (or downside risk). Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait. In the chart below, we zoom in on the different ownership groups of TFI International. Check out our latest analysis for TFI International Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. We can see that TFI International does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see TFI International's historic earnings and revenue below, but keep in mind there's always more to the story. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in TFI International. Capital Research and Management Company is currently the company's largest shareholder with 15% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 6.9% and 5.8%, of the shares outstanding, respectively. Alain Bedard, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. We did some more digging and found that 10 of the top shareholders account for roughly 50% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. We can report that insiders do own shares in TFI International Inc.. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around CA$549m worth of shares (at current prices). It is good to see this level of investment by insiders. You can check here to see if those insiders have been buying recently. The general public-- including retail investors -- own 20% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. While it is well worth considering the different groups that own a company, there are other factors that are even more important. Be aware that TFI International is showing 2 warning signs in our investment analysis , you should know about... If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Associated Press
18-03-2025
- Business
- Associated Press
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of TFI International
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against TFI International Inc. ('TFI' or the 'Company') (NYSE: TFII) and reminds investors of the May 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that the Company was losing small and medium business customers; (2) that, as a result, the Company's TForce revenue was declining; (3) that TFI was experiencing difficulties managing its costs; (4) that, as a result of the foregoing, the profitability of its largest business segment was declining; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On February 20, 2025, TFI released its fourth quarter 2024 financial results, missing consensus estimates on EPS and revenue. In an earnings call held the same day, TFI's President & Chief Executive Officer, Alain Bedard, reported the Company is 'losing the small and medium-sized . . . customers' and this 'really accelerated in Q4.' Bedard further described the Company's efforts to control costs as 'like a dog chasing his tail.' On this news, TFI's stock price fell $26.13, or 20.5%, to close at $101.48 per share on February 20, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding TFI's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the TFI International class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. 877-247-4292 or 212-983-9330 (Ext. 1310) SOURCE: Faruqi & Faruqi, LLP Copyright Business Wire 2025. PUB: 03/18/2025 11:25 AM/DISC: 03/18/2025 11:25 AM
Yahoo
21-02-2025
- Business
- Yahoo
TFI acknowledges US LTL ‘disaster' and difficult Daseke integration in Q4
While the theme of TFI International's fourth-quarter earnings call was much like that of the third quarter – its U.S. less-than-truckload operations are struggling years after the acquisition of UPS Freight – CEO Alain Bedard also turned his attention to how things are going at another high-profile acquisition: Daseke. Bedard summed up the overall performance on the call with analysts: 'Q4 was a disaster for us,' he said. But that comment was mostly reflecting on the U.S. LTL operations, the core of which is TForce, built from the UPS for Daseke, TFI (NYSE: TFII) bought the flatbed operator in April. Its performance is embedded in the TFI earnings for Specialty Truckload. The data in those numbers as well as Bedard's comments make clear that the former Daseke operations have room for improvement. 'If you look at the trend since we bought Daseke in April, the second quarter was OK,' he said. 'And then we had issues with revenue per mile that keeps dropping because the freight recession is still with us.' Continuing into this quarter, Bedard said the former Daseke operations still suffer from 'a very high pressure on rates,' though he added the decline has 'stabilized.' 'But the number of miles are down and our costs also are too high,' he said. While revenue in the specialized truckload group was significantly higher – no surprise given that Daseke was not part of TFI in 2023 – other measures show how it has dragged down some performance example, the adjusted operating ratio of the specialized truckload operations at TFI ballooned to 91.6% from 87% a year earlier. The return on invested capital fell to 8.5% from 10.3%. While the specialized truckload data does not break out Daseke separately, the percentage of that business that is former Daseke can be estimated. Revenue in the fourth quarter, with Daseke included, was $531.9 million. A year earlier, without Daseke, it was $283.3 million, for an 87.7% growth. And while the operating margin may be a combined number, Bedard talked about the performance. He said the legacy Daseke business is 'probably running like a 98 OR.' And he lamented the fact that the specialized truckload segment at TFI, during his tenure, had always been a sub-90% OR and now is above that. Bedard also said the legacy Daseke business was suffering from 'too much capital invested.' 'And why is that?' he said. 'Because when we acquired Daseke, they had committed to buy a large number of trucks, which we could not walk away from.' The end result is that 'we have way too many trucks in a very difficult environment.' The process to sell some of that excess is ongoing, Bedard said. But he was generally optimistic about the future of the legacy Daseke operations. He said he believes TFI will be able to turn it around primarily through cost-saving measures, with equipment a key part of that. 'If the market does not improve, we have a path forward by shedding equipment, improving our costs and improving our overhead as well,' he said. In contrast, the problems at the company's U.S. LTL operations, the bulk of which came from the UPS acquisition, sound like they are going to be tougher to used a description made famous in various iterations of 'The Godfather' trilogy: 'TForce is a big rock in my shoe.' (The actual quote was 'a stone in my shoe,' spoken by, among others, the legendary Joey Zaza, but the Bedard statement was memorable enough that Jason Seidl of TD Cowen, in his report on TFI's earnings, titled it 'TForce Becoming A Rock In TFI's Shoe.') Bedard's statements about TForce echo what he has been saying quarter after quarter: 'Our costs are still too high. We're also getting killed because our volume keeps dropping. Our shipment count is down 6% year over year. Although our weight per shipment is about the same, it's still a very difficult environment. So we still have a lot of work to do at TForce Freight on the fleet side to reduce our costs.' But Bedard looked forward and said, 'We're on the right track there.' He returned to a theme he has discussed before: density. He said the Canadian LTL operations involve more deliveries in a smaller area, but that is not the case with TForce. 'The mission we give our sales force is to try to grow organically but also to try to improve the density,' Bedard said. Density in the Canadian operations is 'second to none,' while the situation in the U.S. is 'really bad.' Fixing that may take an acquisition. 'If you can't get the density organically from your sales team, then you have to focus down the road in trying to find a target that could help,' he said. 'You improve your density.' The earnings report wasn't greeted warmly by investors. By 10 a.m. Friday, TFI stock had fallen from about $122 at Wednesday's close to less than $98 per share. The research team at Bank of America Merrill Lynch led by Ken Hoexter cut its rating on TFI to underperform from neutral. Several other negative aspects of the TFI earnings report and call with analysts about the issues at TForce were cited by Merrill Lynch: declining market share in profitable small to medium business, a rise in missed pickups and a claims rate of 0.9%, which is shockingly high when placed against the corresponding rate of LTL competitor Old Dominion Freight Line (NASDAQ: ODFL) of 0.1%. Bedard summed up the disaster on the call and said conditions in the first quarter aren't improving. 'Q1 Is going to be a very difficult quarter,' he said. 'We didn't do a good job in managing our labor cost. We had too many issues with accidents and claims. If you look at my claim ratio, I went all the way to 0.9% of revenue, which is just unacceptable, right?' In its earnings announcement Wednesday, TFI said it was going to 're-domicile' in the U.S. On the call with analysts, Bedard said the change would not involve moving employees from Canada to the U.S. More articles by John Kingston State of Freight: taking stock of the market after a month of Trump XPO lawsuit against 2 ex-employees gives look into noncompete agreements Manhattan Associates' sudden C-suite change not what it seemed, executives say The post TFI acknowledges US LTL 'disaster' and difficult Daseke integration in Q4 appeared first on FreightWaves. Sign in to access your portfolio
