06:24:53 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



TFI International Inc
Symbol TFII
Shares Issued 84,555,210
Close 2024-04-30 C$ 179.28
Market Cap C$ 15,159,058,049
Recent Sedar Documents

Post/CP say TFI Int'l boss calls out trucking "cancer"

2024-04-30 06:28 ET - In the News

The Financial Post reports in its Tuesday edition that TFI International's first quarter results from its truckload operations were a "disaster," says its chief executive officer, in part because of unfair competition. A Canadian Press dispatch to the Post quotes Alain Bedard telling analysts on a call Friday that the company posted a 7-per-cent year-over-year drop in adjusted earnings per share "because the truckload in Q1 was just a disaster; it's a very, very difficult market right now." The "truckload" segment of the business carries full loads to a client while "less-than-truckload" deliveries make multiple drops of cargo on a single run. Mr. Bedard said rampant undercutting of labour laws has harmed TFI to the point where he is mulling a sale of the truckload operation. Asked by an analyst whether he would dispose of its ailing Canadian truckload division, Mr. Bedard replied that TFI was considering such a move. He said the phenomenon known as Driver Inc. was a "cancer" for legitimate trucking companies as rule-breaking rivals gain a competitive advantage. Driver Inc. refers to the misclassification of workers as self-employed, which means the company does not provide benefits or basic labour protections.

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