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tfi international宣布2024年第三季度业绩

2024年10月21日，加拿大魁北克省蒙特利尔－ tfi international（纽交所和tsx代码：TFII）是北美交通和物流行业的领导者，今天宣布截至2024年9月30日的第三季度业绩。所有金额均以美元显示。

尽管市场条件疲弱，tfi international在本季表现出色，在营运活动上产生了35000万美元以上的净现金流，自由现金流超过27000万美元，分别较上一年同期增长26%和37%，主席、总裁兼首席执行官Alain Bédard表示。美国LTL业务的营商条件虽具挑战性，但我们的物流部门表现卓越，而卡车货物运输和加拿大LTL业务均保持稳健。我们在本季还成功减债，降低了杠杆比率。在当前的货运环境中，我们优秀的团队一直专注于提升运营效率，挖掘最近收购的潜力，同时，我们对自由现金流的全面关注使我们能够在低回期间以投机方式投资，并向股东返还可观的资金，同时保持良好的资产负债表。

第三季度业绩

21.8亿美元的营业收入比上年同期的19.1亿美元增加，燃油附加费前营业收入从19.1亿美元增加到16.3亿美元。增加的原因是收购所做出的贡献，部分抵销因交通环境持续疲弱而导致体积减少和燃油附加费收入减少。

20330万的营运收入较上一年同期的20060万增加。营运收入的增加来自业务收购，部分抵销了较低的交易量，以及资产出售的1530万减少获利净额。

净利润为12800万美元，较去年同期的13330万美元下降，每股稀释净利润为1.50美元，较去年同期的1.54美元下降。净利润包括与戴塞克收购有关的利息费用增加2160万美元。调整后的净利润，一项非IFRS衡量指标，为13660万美元，每股稀释净利润为1.60美元，较去年同期的13600万美元每股稀释净利润1.57美元上升。

卡车整车部门的总营业收入较去年同期增加了74％，主要来自对戴塞克的收购，物流部门增加了2％，而组合货物部门减少了9％。与上一年相比，卡车整车部门的营运收入增加了44％，物流部门增加了19％，而组合货物部门则减少了24％。

九个月成果

63.2亿元的总营业收入增加自上年同期的55.5亿元，营业收入未计燃油附加费的54.8亿元增加自47.4亿元。增加主要是由于收购所做出的贡献，而部分抵销了由于持续疲软的交通环境和燃油附加费收入减少而导致的运量下降。

56300万美元的营业收入增加自前一年的55940万美元。营业收入的增加来自业务收购，部分抵销了低容量和与戴塞克收购相关的1,970万美元的重组费用，以及去年同期资产出售所获得的较高收益净额，扣除减损2140万美元的部分。

净利润为33860万美元，较上一年同期的37350万美元低，每股稀释盈利为3.97美元，较上一年同期的4.28美元低。 净利润中包括利息费用增加5610万美元，主要与戴塞克收购的融资有关。调整后的净利润为38770万美元，或每股稀释盈利为4.55美元，较上一年同期每股稀释盈利的39140万美元，或4.48美元低，这是一个非IFRS衡量标准。

总营业收入相对于前一年同期增加，货运收入增加了48%，主要来自戴塞克的收购，物流收入增加了17%，Less-Than-Truckload收入减少了4%。与前一年相比，第三季度货运业务净收入增加了6%，物流业务增加了32%，Less-Than-Truckload业务则减少了9%。

CASH FLOW

Net cash flow from operating activities was $351.1 million during Q3, an increase from $278.7 million the prior year. This increase was due primarily to an increase in depreciation and amortization of $39.6 million and an increase in non-cash working capital of $35.1 million.

Net cash from investing activities increased by $470.0 million as a result of a decrease in spending on business acquisitions of $472.6 million.

The Company returned $33.9 million to shareholders during the quarter through dividends and repaid $130.2 million of debt during the quarter.

DIVIDEND AND SHARE REPURCHASE

On September 16, 2024, the Board of Directors of TFI International declared a quarterly dividend of $0.40 per outstanding common share paid on October 15, 2024, representing a 14% increase over the $0.35 quarterly dividend declared in Q3 2023. The annualized dividend represents 16.8% of the trailing twelve month free cash flow1.

On October 21, 2024, the Board of Directors approved a quarterly dividend of $0.45 per outstanding common share of the Company’s capital, for an expected aggregate payment of $38.1 million to be paid on January 15, 2025, to shareholders of record at the close of business on December 31, 2024.

The Board of Directors today approved the renewal of TFI International’s normal course issuer bid (“NCIB”). Under the renewed NCIB, the Company may purchase for cancellation a maximum of 7,918,103 common shares from November 2, 2024 to November 1, 2025. The renewed NCIB is subject to approval of the Toronto Stock Exchange.

WEBCAST DETAILS

TFI International will host a webcast on Tuesday October 22, 2024 at 8:30 a.m. Eastern Time to discuss these results. Interested parties can join the webcast or access the replay of the webcast via the link accessible on the TFI website under the Presentations and Reports section.

ABOUT TFI INTERNATIONAL

TFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States, Canada and Mexico through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:

TFI International Inc. is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under symbol TFII. For more information, visit www.tfiintl.com.

FORWARD-LOOKING STATEMENTS

The Company may make statements in this report that reflect its current expectations regarding future results of operations, performance and achievements. These are “forward-looking” statements and reflect management’s current beliefs. They are based on information currently available to management. Words such as “may”, “might”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, “to its knowledge”, “could”, “design”, “forecast”, “goal”, “hope”, “intend”, “likely”, “predict”, “project”, “seek”, “should”, “target”, “will”, “would” or “continue” and words and expressions of similar import are intended to identify these forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and those presently anticipated or projected.

The Company wishes to caution readers not to place undue reliance on any forward-looking statements which reference issues only as of the date made. The following important factors could cause the Company’s actual financial performance to differ materially from that expressed in any forward-looking statement: the highly competitive market conditions, the Company’s ability to recruit, train and retain qualified drivers, fuel price variations and the Company’s ability to recover these costs from its customers, foreign currency fluctuations, the impact of environmental standards and regulations, changes in governmental regulations applicable to the Company’s operations, adverse weather conditions, accidents, the market for used equipment, changes in interest rates, cost of liability insurance coverage, downturns in general economic conditions affecting the Company and its customers, credit market liquidity, and the Company’s ability to identify, negotiate, consummate, and successfully integrate acquisitions. In addition, any material weaknesses in internal control over financial reporting that are identified, and the cost of remediation of any such material weakness and any other control deficiencies, may have adverse effects on the Company and impact future results.

The foregoing list should not be construed as exhaustive, and the Company disclaims any subsequent obligation to revise or update any previously made forward-looking statements unless required to do so by applicable securities laws. Unanticipated events are likely to occur. Readers should also refer to the section “Risks and Uncertainties” at the end of the 2024 Q3 MD&A for additional information on risk factors and other events that are not within the Company’s control. The Company’s future financial and operating results may fluctuate as a result of these and other risk factors.

NON-IFRS FINANCIAL MEASURES

This press release includes references to certain non-IFRS financial measures as described below. These non-IFRS measures do not have any standardized meanings prescribed by International Financial Reporting Standards as issued by the international Accounting Standards Board (IASB) and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, they should not be considered in isolation, in addition to, nor as a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. The terms and definitions of the non-IFRS measures used in this press release and a reconciliation of each non-IFRS measure to the most directly comparable IFRS measure are provided in the exhibits.

Adjusted EBITDA:

Adjusted EBITDA is calculated as net income before finance income and costs, income tax expense, depreciation, amortization, impairment of intangible assets, bargain purchase gain, restructuring from business acquisitions, and gain or loss on sale of land and buildings, assets held for sale, sale of business, and gain or loss on disposal of intangible assets. Management believes adjusted EBITDA to be a useful supplemental measure. Adjusted EBITDA is provided to assist in determining the ability of the Company to assess its performance.

Adjusted net income and adjusted earnings per share (adjusted “EPS”), basic or diluted

Adjusted net income is calculated as net income excluding amortization of intangible assets related to business acquisitions, net change in the fair value and accretion expense of contingent considerations, net change in the fair value of derivatives, net foreign exchange gain or loss, impairment of intangible assets, bargain purchase gain, restructuring from business acquisitions, gain or loss on sale of land and buildings and assets held for sale, impairment on assets held for sale, gain or loss on the sale of business and directly attributable expenses due to the disposal of the business. Adjusted earnings per share, basic or diluted, is calculated as adjusted net income divided by the weighted average number of common shares, basic or diluted. The Company uses adjusted net income and adjusted earnings per share to measure its performance from one period to the next, without the variation caused by the impact of the items described above. The Company excludes these items because they affect the comparability of its financial results and could potentially distort the analysis of trends in its business performance. Excluding these items does not imply they are necessarily non-recurring.

Free cash flow:

Net cash from operating activities less additions to property and equipment plus proceeds from sale of property and equipment and assets held for sale. Management believes that this measure provides a benchmark to evaluate the performance of the Company in regard to its ability to meet capital requirements.

Note to readers: Unaudited condensed consolidated interim financial statements and Management’s Discussion & Analysis are
available on TFI International’s website at www.tfiintl.com.

For further information:

Alain Bédard

Chairman, President and CEO

TFI International Inc.

647-729-4079

abedard@tfiintl.com