Canadian transport and logistics company, TFI International, aims to relocate to the US.
This follows ‘solid’ year-on-year performance amid ongoing challenging conditions according to TFI International Chairman, President and CEO, Alain Bédard.
“We generated more than $260 million of net cash from operating activities and over $200 million of free cash flow, bringing our full-year free cash flow to more than $750 million for a third year in a row,” he said.
“We reinforced our firm financial footing by reducing debt, and executed targeted bolt-on acquisitions during and subsequent to the quarter, as well as additional share repurchases following the October renewal of our normal course issuer bid.
“We were also pleased to declare a 13 per cent increase to our quarterly dividend in December.
“Looking ahead into 2025, the skilled men and women of TFI International are intensely focused on continued strong execution in our mission to generate robust free cash flow and make strategic investments, especially during periods of reduced freight volumes, all while returning meaningful capital to shareholders and building long-term value.”
Total revenue for 2024 was $8.4 billion USD (2023: 7.52 billion USD). Revenue before fuel surcharge of $7.30 billion USD compared to $6.42 billion USD the prior year. The increase is primarily due to the acquisition of Daseke and is partially offset by decreases from existing operations due to weaker market demand.
In other news, FTR said January marks the third consecutive month of positive year-on-year growth for net trailer orders in the US.
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