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Jun 30, 2024
TFI Q2 2024 Earnings Report
TFI International reported an increase in operating income and revenue for Q2 2024, driven by acquisitions despite weaker market conditions.
Key Takeaways
TFI International reported strong Q2 2024 results with total revenue increasing to $2.26 billion and operating income rising to $208.1 million, primarily due to contributions from business acquisitions. Adjusted net income also saw an increase, reaching $145.6 million, while diluted EPS was $1.38. The company generated significant cash from operating activities, which was used to repay debt.
Second quarter operating income increased to $208.1 million from $192.4 million in Q2 2023, primarily due to business acquisitions.
Adjusted net income rose to $145.6 million from $138.9 million in Q2 2023, while net income decreased to $117.8 million.
Adjusted diluted EPS increased to $1.71 from $1.59 in Q2 2023, despite diluted EPS decreasing to $1.38.
Net cash from operating activities increased to $248.5 million from $200.4 million in Q2 2023, with free cash flow rising to $151.4 million.
Revenue by Segment
Forward Guidance
The company's forward-looking statements indicate a focus on strategic investments and returning excess capital to shareholders, while acknowledging the challenges of a competitive market and economic conditions.
Positive Outlook
- Ability to create value through strategic investment regardless of market conditions.
- Commitment to returning excess capital to shareholders.
- Strong cash flow generation to support strategic initiatives.
- Continued focus on integrating acquired operations effectively.
- Improvements in US LTL operations, including tonnage, weight per shipment, and revenue per shipment.
Challenges Ahead
- Highly competitive market conditions.
- Challenges in recruiting, training, and retaining qualified drivers.
- Potential impact of fuel price variations and ability to recover costs from customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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