TFII · TFI INTERNATIONA Q2 FY2026 earnings call record财报电话会记录

“Within the past hour, TFI International reported stronger than expected quarterly results with adjusted diluted EPS of CAD 1.85, exceeding our clip range of CAD 1.50-CAD 1.60 and up 38% year-over-year.”

“We generated more than CAD 200 million of free cash flow, further supporting our ability to strategically allocate capital and, very importantly, return excess capital to shareholders whenever possible, including close to CAD 40 million in quarterly dividend paid during the quarter.”

“That reflects a margin of 11.6, which was up more than 200 basis points relative to the 9.5 figure a year earlier.”

“As I mentioned, we generated just over CAD 200 million in free cash flow during the second quarter of the year and ended June with a funded debt-to-EBITDA ratio of 2.4, which has improved from 2.5 at the start of the year.”

“Lastly, looking ahead for the third quarter results, we expect adjusted EPS of CAD 1.70-CAD 1.80, which would represent a 50% year-over-year increase at the high end.”

“We also expect year-over-year adjusted operating ratio improvement of 500-600 basis point in the truckload segment, 250-350 basis point in the logistics segment, and a comparable operating ratio in the LTL segment.”

“For the full year, we continue to expect net CapEx, excluding real estate, in the range of CAD 225 million-CAD 250 million, unchanged from previous expectations.”

“Because what we're seeing on the LTL, the reason that the margins are expected to be flat is because we have too much volume and not enough price.”

“All of these things that you do when your volume increases 10%, 12%, 13% overnight.”

“These spreadsheets have about 500,000 lines and tons of columns, tons of data, and we're able to really isolate very specifically the problematic lanes, very specifically the problematic freight, the terminals, the customers, and then we're using that to help our pricing team go in and be real surgical and move faster.”

“If I remember correctly, our CSP, customer specific, we're at 45%, 55% is blanket, and this is where we got overwhelmed with volume, and this is what we're fixing.”

“If you have a target that's profitability, let's say is CAD 10 million, okay, and instead of paying five times, you have to pay six times because the market is What are you going to do with that CAD 10 million?”