TFI International Reports Fourth Quarter and Full-Year 2024 Results

FI International Inc. announced today its fourth-quarter and full-year 2024 results. Despite economic challenges, TFI International maintained strong financial performance, generating over $750 million in free cash flow for the third consecutive year.

Key Fourth Quarter 2024 Results

• Operating Income: $160.2M, compared to $198.3Min Q4 2023.

• Net Income: $88.1M, down from $131.4Min Q4 2023.

• Adjusted Net Income: $101.8M, compared to $147.0Mlast year.

• Diluted EPS: $1.03, versus $1.53in 2023; Adjusted Diluted EPS: $1.19, compared to $1.71.

• Net Cash Flows from Operations: $266.6M, down from $302.6Min 2023.

• Quarterly Dividend: Increased by 13%to $0.45per share.

Revenue growth was primarily driven by strategic acquisitions, while the decline in operating income resulted from weaker market demandand increased accident-related costs in the less-than-truckload (LTL) segment.

Full-Year 2024 Performance

• Total Revenue: $8.40B, up from $7.52Bin 2023.

• Operating Income: $719.0M, slightly down from $757.6Mthe previous year.

• Net Income: $422.5M($4.96 per diluted share), compared to $504.9M($5.80 per diluted share) in 2023.

• U.S. Re-Domiciliation: TFI continues its transition to the United States, where 70% of its business is now based.

Outlook for 2025

TFI International’s Chairman, President, and CEO, Alain Bédard, emphasized operational execution, strategic investments, and disciplined cash flow management as key priorities for navigating uncertain economic conditions. The company remains committed to delivering shareholder valuewhile maintaining financial strength.

Webcast Details

TFI International will host a webcast on Thursday, February 20, 2025, at 8:30 AM (ET) to discuss financial results. A replay will be available on TFI’s official website.