Alain Bedard

TFI to close ex-UPS Freight terminals to rein in costs

A TForce Freight truck parked at a former terminal of UPS Freight now owned by TFI International.

TFI International plans to close four former UPS Freight terminals in December as the Canadian company works to bring down costs and optimize its U.S. LTL network, CEO Alain Bédard told financial analysts on Friday.

The terminals don’t handle enough shipments to justify their continued operation, Bédard said. They include one location in Chicago and two in West Virginia, while Bédard didn’t identify the fourth.

The closures account for a small portion of the over 200 facilities TFI acquired as...

https://www.freightwaves.com/news/tfi-to-close-ex-ups-freight-terminals-to-rein-in-costs

TFI has strong Q3, but TForce Freight margins weaken

A tractor-trailer of TFI International's TForce Freight, formerly UPS Freight, seen from the front left.

TFI International reported record third-quarter financial results on Thursday even as the performance of its U.S. LTL operation, formerly known as UPS Freight, took a slight dip.

The Montreal-based company beat analysts’ estimates by seven cents with an adjusted net income of $138.9 million or $1.46 per diluted share, according to Seeking Alpha. Revenue came in at just under $2.1 billion, in line with estimates. 

TFI’s (NYSE:TFII) U.S. LTL operation, rebranded as TForce Freight, didn’t quite live...

https://www.freightwaves.com/news/tfi-has-strong-q3-but-tforce-freight-margins-weaken

TFI needs drivers at leaner, meaner UPS Freight successor

A parked TForce Freight truck with a UPS Freight in the background.

TFI International bought UPS Freight with plans to make the LTL carrier “lean and mean,” a turn of phrase CEO Alain Bédard likes to use. While the company is implementing that strategy, including recent cuts to salespeople, one thing it needs more of is truck drivers. 

As of late July, Montreal-based TFI (NYSE:TFII) was employing 5% fewer Teamsters members — about 10,540 people — in the rebranded TForce Freight than the 11,100 UPS (NYSE:UPS) had as of Dec. 31, according to a recent SEC filing....

https://www.freightwaves.com/news/tfi-needs-drivers-at-leaner-meaner-ups-freight-successor

TFI confronts unprofitable thorns in UPS Freight turnaround

TFI International’s dramatic improvement to the profitability of the former UPS Freight business came as the Canadian company began confronting the “low-hanging fruit” of the LTL carrier’s unprofitable freight and shippers, CEO Alain Bedard said. 

“We just scratched the surface,” Bedard told financial analysts on Monday evening after TFI delivered a stellar second quarter.  

TFI (NYSE:TFII) had made no secret of plans to tackle unprofitable business when it announced the $800 million deal in...

https://www.freightwaves.com/news/tfi-confronts-unprofitable-thorns-in-ups-freight-turnaround

TFI hints at closer UPS ties beyond their $800M deal

A UPS Freight tractor-trailer. TFI is acquiring UPS Freight from UPS.

The CEO of TFI International (NYSE:TFII) hinted on Wednesday that the Canadian trucking and logistics company may be pursuing closer ties with UPS (NYSE:UPS) beyond the $800 million acquisition of its less-than-truckload division, UPS Freight.

“Don’t forget this discussion that we’re having with our friends in Atlanta,” Alain Bedard told financial analysts. “I think it may be way more than a transaction that we should be closing on soon.”

Bedard made the remarks after TFI posted its first-quarter...

https://www.freightwaves.com/news/tfi-hints-at-closer-ups-ties-beyond-their-800m-deal

TFI to take aim at UPS Freight’s unprofitable business

Two tractor-trailers of UPS Freight. TFI International is acquiring UPS Freight.

TFI International (NYSE: TFII) plans to aggressively improve margins at UPS Freight after its $800 million acquisition closes by reining in unprofitable business. The plan: renegotiate with customers or cut them loose, CEO Alain Bedard told financial analysts on Monday after the Canadian trucking and logistics company reported fourth-quarter financial results.  

“There is some freight there that the company does not make any money on,” Bedard said of UPS (NYSE: UPS). “It’s normal because it was...

https://www.freightwaves.com/news/tfi-to-take-aim-at-ups-freights-unprofitable-business

TFI has strong Q3 as logistics bet pays off

A tractor-trailer viewed from the year of TFI International trucking carrier CFI. TFI reported Q3 financial results on Thursday.

TFI International (NYSE:TFII), Canada’s largest trucking company, reported a more than 30% jump in profits during the third quarter compared to a year ago as logistics operations and government wage subsidies offset softness from its truckload and less-than-truckload businesses. 

Montreal-based TFI brought in C$110 million in net income during the quarter, or an adjusted C$1.25 per share, on C$1.25 billion in revenue. Net income increased by 34% versus a year ago, while revenue fell by 4%. 

The...

https://www.freightwaves.com/news/tfi-has-strong-q3-as-logistics-bet-pays-off

TFI buying US 3PL DLS Worldwide for $225 million

A straight truck of TForce Logistics, a TFI International subsidiary. TFI is acquiring DLS Worldwide in a major expansion of its U.S. logistics business.

TFI International (NYSE:TFII) will buy U.S. third-party logistics provider DLS Worldwide from RR Donnelley & Sons (NYSE:RRD) for $225 million in one of the Canadian company’s largest acquisitions in recent years. 

TFI announced the acquisition Tuesday. It represents a major move by the Montreal-based company to scale its U.S.-based logistics business.

Based in the Chicago suburbs, DLS Worldwide generated $550 million in revenue during a recent 12-month period, according to TFI. Once the...

https://s29755.pcdn.co/news/tfi-buying-us-3pl-dls-worldwide-for-225-million

TFI raises $219 million in share offering

A tractor-trailer from TFI International-owned carrier CFI travels on a road. TFI raised nearly $219 million in a share offering, which could allow it to make additional acquisitions.

TFI International (NYSE:TFII) raised nearly $219 million in its newly closed share offering, positioning the transportation and logistics company to aggressively pursue acquisitions in the United States and Canada.  

TFI announced the closing of the share offering on Monday, saying it issued over 5 million shares of common stock. It included more than 600,000 shares to offering’s underwriters, who fully exercised their purchase option.

The Montreal-based company said it will use the proceeds it...

https://s29755.pcdn.co/news/tfi-raises-219-million-in-share-offering

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