Headline: TFI International Shares Decline as Q3 Earnings Miss Expectations

TFI International Inc. (NYSE:TFII) reported third-quarter earnings that fell short of analyst expectations, causing the company's shares to decline by 1.26% in after-hours trading. The leading North American transportation and logistics company announced an adjusted earnings per share of $1.60, missing the consensus estimate of $1.78. Revenue came in at $2.19 billion, falling short of the projected $2.27 billion by analysts.

Despite missing earnings expectations, TFI International's Q3 revenue increased by 14.3% from $1.91 billion in the same period last year. The company attributed revenue growth to acquisitions but noted that weak transportation conditions resulted in lower volumes partially offsetting this growth. Operating income rose slightly from $200.6 million in Q3 2023 to $203.3 million. However, net income decreased to $128.0 million from $133.3 million in the same period last year.

Chairman, President, and CEO Alain Bédard commented, "Despite the soft market conditions, TFI International performed well throughout the quarter, with net cash from operations exceeding $350 million and free cash flow surpassing $270 million. These figures represent increases of 26% and 37%, respectively, compared to the same period last year."

The company's board declared a 13% increase in the quarterly dividend, raising it to $0.45 per share.