Earnings missed expectations with significant bottom-line deterioration, especially in LTL. Monitor for further weakness in freight demand and potential cost-cutting measures. The company's reduced capital spending and lack of share repurchases signal caution. Watch for analyst downgrades or guidance revisions in the coming days.
Price Chart
Executive Summary
TFI International reported Q1 2026 results with revenue down slightly (-0.7%) but net income plunging 22.7% to $43.3 million, and EPS falling 19.7% to $0.53. Operating income dropped 15.7% to $96.6 million, driven by weak LTL segment performance and higher accident costs, partially offset by gains in Truckload and Logistics. Free cash flow also declined sharply by 35.5% to $123.7 million, primarily due to working capital outflows.
Key Facts
- Revenue before fuel surcharge was $1,702.6 million vs $1,714.5 million in Q1 2025 (-0.7%)
- Operating income fell to $96.6 million from $114.6 million (-15.7%)
- Net income dropped to $43.3 million from $56.0 million (-22.7%)
- Diluted EPS decreased to $0.53 from $0.66 (-19.7%)
- Adjusted EBITDA declined 6.8% to $241.4 million, margin down to 14.2% from 15.1%
- Free cash flow fell to $123.7 million from $191.7 million (-35.5%)
- Less-Than-Truckload segment operating income dropped 35% to $30.6 million; Truckload up 14% to $55.8 million; Logistics up 10% to $34.4 million
- Acquired Triangle Warehouse for $53.0 million in cash during the quarter
- Dividend increased 4% to $0.47 per share
Financial Impact
Net income declined by $12.7 million YoY; free cash flow reduced by $68.0 million
Risk Factors
- Continued weakness in LTL demand and pricing
- Rising accident costs and insurance expenses
- Working capital drain pressuring cash flow
- Potential for further earning revisions if freight cycle does not improve
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-182067 |
| Document: tfii-ex99_2.htm | 0001193125-26-182067 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 27, 2026 9w ago | 6-K | $147.76 $134.18 | ▼ −9.19% | ▼ −12.57% | $118.90 (−19.53%) |
Jun 29, 2026 13w ago | 6-K | $143.57 $145.87 | ▲ +1.60% | ▲ +2.63% | $118.90 (−17.18%) |
Jun 15, 2026 15w ago | 6-K | $152.75 $149.25 | ▼ −2.29% | ▼ −2.49% | $118.90 (−22.16%) |
Jun 12, 2026 16w ago | Institutional Cluster | $160.40 $147.64 | ▼ −7.96% | ▼ −9.73% | $118.90 (−25.87%) |
Apr 27, 2026 22w ago | 6-K | $144.82 $150.92 | ▲ +4.21% | ▼ −1.26% | $118.90 (−17.90%) |
Apr 27, 2026 22w ago | 6-K | $144.82 $150.92 | ▼ −4.21% | ▲ +1.26% | $118.90 (+17.90%) |
Apr 27, 2026 22w ago | Press Release | $144.82 $150.92 | ▲ +4.21% | ▼ −1.26% | $118.90 (−17.90%) |
Apr 20, 2026 23w ago | 6-K | $135.24 $142.40 | ▲ +5.29% | ▲ +0.38% | $118.90 (−12.08%) |
Mar 30, 2026 26w ago | 6-K | $108.63 $141.98 | ▲ +30.70% | ▲ +21.28% | $118.90 (+9.45%) |
Mar 30, 2026 26w ago | Press Release | $108.63 $141.98 | ▲ +30.70% | ▲ +21.28% | $118.90 (+9.45%) |
US Market Status
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