Latest news with #TForceFreight
Yahoo
02-05-2025
- Business
- Yahoo
TFI walks away from M&A deal due to tariff uncertainty
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. TFI International is avoiding 'anything of size' for mergers and acquisitions in 2025 due to tariff uncertainty, CEO Alain Bédard said during the company's Q1 earnings call on April 24. 'We had to walk away from a transaction that was a great transaction for both parties, the seller and us, and we had to walk away because of all this environment,' Bédard said. 'Because of all this uncertainty, we said, no, forget about it.' TFI was able to close two small deals during the quarter, Basin Transportation and Veilleux Transit, according to an earnings press release. But now, the carrier is focused on buying back its own stock and improving its U.S. LTL business. 'Our M&A in '25 … is going to be minimal,' Bédard said. The company also wants to turn things around with TForce Freight, which it acquired four years ago. The goal is to achieve a 90 or under operating ratio. The company's Canada LTL runs at an 80 operating ratio, Bédard said. Postponing M&A marks a change for TFI, which has been on an acquisition spree for quite some time. "In the last twelve months, 90 facilities were added from business acquisitions and terminal consolidation decreased the total number of facilities by 64," according to TFI's quarterly report. In April 2024, TFI acquired Daseke. The Canada-based freight conglomerate plans to spin off Daseke, but it has paused the move until it can acquire another major LTL carrier, according to a Q3 2024 earnings call. The company has also purchased several Yellow Corp. terminals in California, Kentucky and North Carolina. Other acquisitions in the past two years include JHT Holdings, Hercules Forwarding, Sharp Trucking Services and LJW Tank Lines. In 2021, TFI acquired UPS Freight, the parcel carrier's former freight business consisting of less-than-truckload and dedicated truckload services. The acquisition fueled TFI's creation of TForce Freight. Going forward, Bédard said 'another acquisition of size in the US' is still part of TFI's long-term plan. The company's free cash flow in the most recent quarter was more than $190 million, giving it leverage to invest in M&A when the time is right, Bédard added. Recommended Reading TFI scraps plan to redomicile to the US Sign in to access your portfolio
Associated Press
21-03-2025
- Business
- Associated Press
INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against TFI International Inc. (NYSE: TFII); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel
SAN DIEGO, March 21, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities that purchased or otherwise acquired TFI International Inc. (NYSE: TFII) ('TFI' or the 'Company') securities between April 26, 2024 and February 19, 2025 (the 'Class Period'), charging the Company and certain senior executives with violations of the federal securities laws (collectively, 'Defendants'). TFI investors have until May 13, 2025 to seek appointment as lead plaintiff of the TFI class action lawsuit. If you purchased or acquired TFI securities between April 26, 2024 and February 19, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: You can also contact DiCello Levitt attorneys Brian O'Mara or Ruben Peña by calling (888) 287-9005 or emailing [email protected]. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. Case Allegations TFI is a transportation and logistics company that operates in the United States and Canada. The Company operates through four segments: Package & Courier, Less-than-Truckload ('LTL'), Truckload, and Logistics. TFI derives approximately 43% of its revenue from its LTL segment, which includes TForce Freight, a rebrand of the less-than-truckload and dedicated truckload divisions of United Parcel Service, Inc., that the Company acquired in April 2021. The TFI lawsuit alleges that Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) TFI 'was losing the small and medium-sized' customers; (2) as a result, TFI's TForce Freight revenue was declining; (3) the Company was struggling to manage costs; and (4) these issues negatively impacted the LTL segment's profitability. The truth emerged on February 19, 2025, when TFI announced its fourth quarter and full year 2024 financial results. In a conference call held on the same day to discuss the results, Defendants revealed that TFI was ' losing the small and medium-sized . . . customers, which have the best margin . . . [a]nd this was really accelerated in Q4.' Defendants admitted that ' this is problem number one for ' the Company. Later in the call, Defendants disclosed that ' [p]roblem number two is cost ' and described TFI's efforts to manage the issue as ' working steadily on costs since we bought this company . . . But at the same time, okay, our volume, okay, keeps coming down, right? So it's like you're chasing your tail, like a dog chasing his tail, okay? So this got to stop.' On this news, the price of TFI's common stock fell $26.13 per share, or 20.5%, to close at $101.48 per share on February 20, 2025. About DiCello Levitt At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens' rights and interests. Every day, we put our reputations – and our capital – on the line for our clients. DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal, in addition to its top-tier Chambers and Benchmark ratings. The New York Law Journal also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit Attorney Advertising. Prior results do not guarantee a similar outcome. Media Contact Amy Coker 4747 Executive Drive, Suite 240 San Diego, CA 92121 619-963-2426
