TSX:TFII - Post Discussion
Post by
retiredcf on Jul 19, 2022 8:59am
RBC 4
Connecting The Dots: TFII flash read-through – Marten reports record Q2 results
NYSE: TFII | USD 84.93 | Outperform | Price Target USD 100.00
Sentiment: Positive
Our view. Marten Transport (US-based trucking company; not covered) today reported record Q2 results, which we view as a positive read-through for TFII. Of interest to TFII shareholders is that TL pricing came in up +22% y/y, as measured by TL revenue, net of fuel surcharges. Our view is that the record results and solid pricing increases suggest upside to Q2 consensus estimates at TFII. However, we continue to expect focus to remain on the outlook, and will be looking for further color as North American transportation companies report results over the coming weeks. Key is that if demand remains strong and pricing elevated, TFII shares represent an attractive opportunity in our view at today’s prices (see our Q2 preview note here).
What happened? Marten Transport today reported Q2 results. Marten reported a +50% improvement y/y in EPS to $0.39 for Q2/22, up from $0.26 for Q2/21. Excluding fuel surcharges, operating revenue improved +32% for Q2/22.
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