TFI International Inc T.TFII

Alternate Symbol(s): TFII

TFI International Inc. is a transportation and logistics company, operating across the United States and Canada through its subsidiaries. The Company's segments include Package and Courier, Less-Than-Truckload, Less-Than-Truckload, and Logistics. The Package and Courier segment is engaged in pickup, transport, and delivery of items across North America. The Less-Than-Truckload segment is engaged in pickup, consolidation, transport, and delivery of smaller loads. The Truckload segment is a provider of conventional and specialized truckload services, including flatbed, tanks, dumps, and oversized. It offers specialized trailers, and a million-plus square feet of industrial warehousing space. The Logistics segment provides asset-light logistics services, including brokerage, freight forwarding and transportation management, as well as small package parcel delivery. The Company also specializes in hauling compostable and recyclable materials and in residential waste management.

TSX:TFII - Post by User

TFI International Inc

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Comment by MrEvilxon Feb 28, 2019 2:23pm

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Post# 29424409

RE:TD

hey retiredcf,
everything looked good to me last night when I read it. I was expecting a really good response from market. What could have happened ? Any pointers ? anything you could suggest ?

GLTA Longs

retiredcf wrote: This is a flash report so it's possible that they may raise their current target of $57.00 in the next couple of days. GLTA

TFI International Inc.

(TFII-T) C$40.97

Q4/18 First Look Event

TFI reported Q4/18 revenue (including fuel) of $1,321.4mm (up 11% y/y), slightly above our estimate of $1,296.2mm and consensus of $1,280.6mm.

EBITDA for the quarter was $180.7mm (up 38% y/y), also above our estimate of $166.8mm and consensus of $166.4mm. F2018 EBITDA of $686.3mm came in ahead of management's guidance of $665-675mm.

8:30 a.m. ET conference call (1-877-223-4471).

Impact: POSITIVE

Results in the quarter came in ahead of our expectations, with EBITDA exceeding our forecast in three of four segments. Revenue (excl. fuel) and EBITDA margins improved y/y across all four segments. This marks the fourth consecutive quarterly EBITDA beat relative to consensus, with an average beat during F2018 of ~12%.

Package and Courier - EBITDA of $36.5mm was slightly ahead of our forecast of $36.5mm as a result of revenue (excl. fuel) 6% ahead of our forecast. The Canada Post strike helped drive a 6% y/y increase in shipments in Q4/18. EBITDA margin of 20.6% (up 130bps y/y) was relatively in line with our forecast of 21.0% and consistent with recent quarters.

Less-Than-Truckload - EBITDA of $32.2mm was ahead of our forecast of $26.0mm, with slightly lower than anticipated revenue (2% below our forecast) more than offset by margin improvement. Revenue increased by 3% organically, while EBITDA margins were 13.9% (up 300bps y/y) versus our estimate of 11.0% as TFI continues to make good strides in the segment from its rationalization of operations and focus on higher margin volumes.

Truckload - EBITDA of $99.4mm was ahead of our forecast of $88.4mm on stronger than expected revenue (5% beat) and margins (18.8% versus our 17.5% forecast; up 450bps y/y). The strong pricing environment again benefited results, with revenue per total mile in conventional TL up 4% y/y in the U.S. and 12% y/ y in Canada in Q4/18.

Logistics and Last Mile - EBITDA of $21.6mm was slightly below our estimate of $22.3mm (revenue in line; margins 40bps below our forecast).

We will look to the conference call for management's outlook for F2019 and we would note that TFI generally provides EBITDA guidance on its conference call.