UPS Freight

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

Teamsters fight TForce Freight truck slowdowns

TForce Freight trucks sit parked at a company facility.

The Teamsters union is fighting a move by TFI International’s TForce Freight to cut the maximum speed of trucks from 68 to 65 mph.  

The union’s national negotiating committee for TForce quietly filed a charge with the National Labor Relations Board on July 12. It alleges that TForce, formerly UPS Freight, violated federal law by modifying the speed limiters without consulting the union and refusing to negotiate after the fact.

“Changing the speed governors directly impacts employee earning...

https://www.freightwaves.com/news/teamsters-fight-tforce-freight-truck-slowdowns

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 reports remarkable turnaround of UPS Freight in Q2

A white tractor-trailer TFI International carrier TForce Freight seen from the front travels on a highway as the sun sets behind it.

TFI International (NYSE:TFII) handily beat analysts’ expectations in the second quarter as the Canada-based trucking and logistics company’s U.S. LTL division — formerly UPS Freight — achieved a remarkable level of performance. 

TFI reported adjusted net income of $137.2 million, or $1.44 per diluted share, on $1.83 billion in revenue. Analysts expected the company to earn $1.05 per share on $1.54 billion in revenue.  

The strong performance came from across TFI’s businesses. But the biggest...

https://www.freightwaves.com/news/tfi-reports-remarkable-turnaround-of-ups-freight-in-q2

TFI says turnaround of UPS Freight successor running ahead of schedule

A white tractor trailer of UPS Freight, which was acquired by TFI International.

TFI International’s turnaround of UPS Freight is running ahead of schedule, the company said Tuesday as it announced that it expects the LTL business, now called TForce Freight, to post an adjusted operating ratio below 95% for the second quarter. 

TFI (NYSE:TFII) provided no details in what marks an unusual preannouncement ahead of the release of its second-quarter financial results on July 26. But the improvement in margins for the division “is consistent with companywide strong performance...

https://www.freightwaves.com/news/tfi-says-turnaround-of-ups-freight-successor-running-ahead-of-schedule

TFI M&A engine keeps purring, acquires Procam

A commercial truck seen from behind travels on a highway with the logo of TFI International layered on top of the image.

TFI International (NYSE:TFII) has once again proven it has a seemingly insatiable appetite for trucking and logistics companies, buying a small Canadian carrier, Procam International, as it works to integrate UPS Freight into its expansive portfolio. 

TFI acquired Procam in early June to expand its network, company spokesperson Julie Coutu told FreightWaves in an email. Based in the Montreal suburb of Laval, the 33-year-old Procam is a less-than-truckload, specialized truckload, third-party...

https://www.freightwaves.com/news/tfi-ma-engine-keeps-purring-acquires-procam

Done deal: TFI completes UPS Freight acquisition

Two tractor-trailers from UPS Freight on the highway. TFI has closed its acquisition of UPS Freight.

TFI International (NYSE:TFII) has completed its $800 million acquisition of UPS Freight (NYSE:UPS), the Canadian trucking and logistics firm said Friday as it ushered in a new era as one of the largest less-than-truckload carriers in North America. 

It came three months after TFI and UPS announced the deal in January. It allows UPS to jettison the largely unprofitable LTL and dedicated truckload operation while giving TFI its most ambitious turnaround projects to date. 

TFI did not offer any new...

https://s29755.pcdn.co/news/done-deal-tfi-completes-ups-freight-acquisition

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