Canadian companies

Titanium roars in Q3 on US brokerage performance

A tractor-trailer of Titanium Transportation Group.

Canadian cross-border trucking and logistics firm Titanium Transportation Group (TSX-V:TTR) returned to its old ways of delivering explosive growth as its U.S. brokerage business helped lift revenue by over 20% during the third quarter. 

Ontario-based Titanium reported on Tuesday that it generated C$52.6 million (US$40.4 million) in revenue, a record for the third quarter and 23% higher than a year ago. Net income excluding government wage subsidies quadrupled to C$1.4 million, or 5 cents per...

https://s29755.pcdn.co/news/titanium-roars-in-q3-on-us-brokerage-performance

Shopify CEO envisions fulfillment network on global scale

A warehouse worker with a robot from 6 River Systems. The CEO of Shopify says warehouse automation will play a key role in scaling its fulfillment network.

The future for Shopify’s (NYSE:SHOP) fulfillment business could involve a network of highly automated warehouses that lean on technology including robots, CEO Tobi Lutke told financial analysts on Friday after the Canada-based e-commerce company reported third-quarter financial results.

“We can have tens, hundreds, potentially thousands [with] partners and some homegrown ones around the world and balance the products where they need to be stored,” Lutke said.

Lutke made the comments as Shopify...

https://s29755.pcdn.co/news/shopify-ceo-envisions-fulfillment-network-on-global-scale

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

Walmart triples Tesla Semi order in Canada

A front-facing picture of a Tesla Semi truck. Walmart Canada has ordered 130 of the trucks.

Walmart Canada has more than tripled its order for Tesla Semi trucks in a show of confidence for the all-electric heavy-duty vehicles and the ability of its maker to deliver them.   

The Canadian division of retailer Walmart (NYSE:WMT) said Tuesday it reserved 130 of the trucks. Once in service, Walmart will have one of the biggest electric truck fleets in Canada as part of a companywide goal to achieve zero emissions by 2040. 

“I’m excited to have my drivers drive this truck,” Francis Lalonde,...

https://s29755.pcdn.co/news/walmart-triples-tesla-semi-order-in-canada

Lion’s electric trucks lean on road-tested tech

A Lion8 electric truck with a trailer produced by the Lion Electric Co.

Before Lion Electric Co. decided to make electric trucks, the Canadian company developed a line of battery-powered electric school buses. More than 300 are in service in North America.

Lion Electric president Marc BédardLion Electric president Marc Bédard says the Lion8 is designed to be a workhorse for urban deliveries. (Photo: Nate Tabak/FreightWaves)

The result, according to Lion Electric President Marc Bédard: Its trucks are more mature and better road-tested than those of closest rivals — such as Freightliner’s eM2 and...

https://s29755.pcdn.co/news/lions-electric-trucks-lean-on-road-tested-tech

Kenan Advantage Group acquires Canada’s Beaulac Transport

A tank truck of Kenan Advantage Group, which acquired Canadian firm Beaulac Transport

Kenan Advantage Group (KAG) has acquired Quebec-based tank truck carrier Les Distributions Carl Beaulac (Beaulac Transport), expanding the U.S. company’s footprint in eastern Canada.

The acquisition adds almost 80 tractors, 100 drivers and two facilities to Ohio-based KAG’s existing Canadian subsidiary, Westcan Bulk Transport. Beaulac specializes in transporting petroleum, chemicals, aggregates and hot products.

“Beaulac Transport has built a strong solid reputation in the transportation industry...

https://www.freightwaves.com/news/kenan-advantage-group-acquires-canadas-beaulac-transport

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

Descartes Systems Q2 profit jumps 22%

Containers stacked at a port. Descartes Systems reported a jump in Q2 profits on higher demand for supply chain software products.

Descartes Systems Group (NASDAQ:DSGX) reported a 22% increase in net income in its second-quarter financial results Wednesday as the Canadian supply chain software provider pushed its profits higher on steady revenue growth.

Descartes had net income of $10.5 million, or 12 cents per share, on $84 million in revenue. The company’s revenue increased by 4% compared to a year earlier. The results were in line with analysts’ expectations, according to Yahoo Finance. 

The results suggest demand for...

https://s29755.pcdn.co/news/descartes-systems-q2-profit-jumps-22

TFI International acquires CCC Transportation from Comcar

A tractor-trailer of CCC Transportation drives on a road. TFI International has acquired CCC from Comcar Industries.

TFI International (NYSE:TFII) has acquired CCC Transportation in the Canadian trucking and logistics firm’s third purchase from bankrupt Comcar Industries. 

TFI announced the deal Wednesday, saying it paid $6.8 million for Florida-based CCC. Details of the acquisition emerged last week in court filings from Comcar’s Chapter 11 bankruptcy. 

Bulk carrier CCC marks TFI’s third acquisition from Comcar. It purchased CT Transportation and MCT Transportation earlier this summer.

CCC has a fleet of nearly...

https://www.freightwaves.com/news/tfi-international-acquires-ccc-transportation-from-comcar

Mullen Group acquires cross-border carrier Pacific Coast Express

Three parked trucks from Pacific Coast Express, a Canadian less-than-truckload carrier recently acquired by Mullen Group.

Canadian trucking and logistics firm Mullen Group (TSX:MTL) has acquired Pacific Coast Express Limited, a cross-border less-than-truckload (LTL) carrier based near Vancouver, British Columbia.

Alberta-based Mullen purchased the outstanding 60% of shares in Pacific Coast Express (PCX) in a transaction that closed on Monday. Mullen bought a minority stake in PCX in 2018.

The acquisition of PCX adds CA$25 million (US$19 million) in annual revenue to Mullen Group and strengthens the company’s...

https://s29755.pcdn.co/news/mullen-group-acquires-cross-border-carrier-pacific-coast-express

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