TFI International Inc. reports US$133.3 million net income amid weaker demand

MONTREAL – 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.

This report by The Canadian Press was first published Oct. 23, 2023.

Companies in this story: (TSX:TFII)