EarningsQ2 2026 Earnings Report
MX:TFIIN Q2 2026 EPS Results
Actual EPS$34.07
Consensus EPS$29.48
Beat/MissBeat by +$4.59
One Year Ago EPS$24.67
MX:TFIIN Q2 2026 Revenue Results
Actual Revenue$40.93B
Expected Revenue$41.00B
Beat/MissMissed by -$75.98M
YoY Revenue Growth+12.35%
Earnings Announcement Details
QuarterQ2 2026
Date07/27/2026
TimeAfter Close
Conference CallMonday, July 27, 2026
MX:TFIIN Upcoming Earnings
TFI International's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TFIIN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive performance with a clear EPS beat, double-digit operating income growth across segments, strong free cash flow generation and balance-sheet improvement. Truckload and logistics showed particularly strong momentum (notably revenue per truck up mid‑teens YoY and logistics revenue +10% with margins expanding). However, material near-term challenges remain in U.S. LTL—driven by inflated volume from low‑priced 3PL blanket business, short‑term service and cost pressure, and an elevated but non‑recurring claims reserve. Management has concrete remediation actions (pricing software, commercial reorganization, surgical repricing, operational fixes) and remains acquisitive with strong cash and leverage flexibility. On balance, the strength in core profitability, cash flow and truckload momentum outweigh the LTL and claims noise.Company Guidance
EPS Beat and Strong YoY Growth
Adjusted diluted EPS of CAD 1.85 beat guidance (CAD 1.50–1.60) and increased 38% year-over-year, reflecting stronger-than-expected quarterly profitability.
Revenue and Operating Income Expansion
Total revenue before fuel surcharge of CAD 1.9 billion, up 6% year-over-year; consolidated operating income of CAD 220 million, up nearly 30% YoY, producing an operating margin of 11.6% (up >200 basis points vs prior year).
Robust Free Cash Flow and Balance Sheet Improvement
Generated more than CAD 200 million of free cash flow in the quarter; net cash from operating activities rose to CAD 256 million (from CAD 247 million); funded debt-to-EBITDA improved to 2.4 from 2.5.
Truckload Segment Outperformance
Truck revenue before fuel surcharge CAD 761 million, up 7% YoY; revenue per truck per week (ex-fuel) rose 13% YoY with acceleration through the quarter (April 11.1% → May 13.3% → June 14.4%); operating income CAD 106 million, up ~50% YoY; adjusted operating ratio improved to 86.1 (400 bps improvement); brokerage revenue up ~34%.
LTL Segment Profitability and Returns
LTL revenue before fuel surcharge CAD 725 million, up 3% YoY; operating income CAD 86 million, up 17% YoY; adjusted operating ratio 88.5% and return on invested capital ~12%.
Logistics Growth and Margin Expansion
Logistics revenue before fuel surcharge CAD 432 million, up 10% YoY; operating income CAD 50 million, up 32% YoY; operating margin 11.5% (up ~2 percentage points YoY) and ROIC ~13.3%.
Capital Allocation Discipline
Net capital expenditure guidance unchanged at CAD 225–250 million for the year (ex-real estate); returned close to CAD 40 million in quarterly dividends and signaled continued focus on strategic M&A and share/return options given strong cash generation.
Operational Improvements and Technology Adoption
Reduced depreciation expense materially (decline noted ~CAD 12.5 million this quarter), consolidated truckload commercial function (new Chief Commercial Officer), rolling out pricing tools for LTL, and piloting autonomous line‑haul trucks with immediate brokering relationships and potential buy/build next year.
MX:TFIIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed