TSX:TFII - Post Discussion
Post by
retiredcf on Jun 05, 2024 9:03am
RBC
June 4, 2024
TFI International Inc.
Connecting The Dots: TFII flash read-through – SAIA provides Q2 update
NYSE: TFII | USD 131.44 | Outperform | Price Target USD 162.00
Sentiment: Positive
Our view. SAIA (not rated) today provided a Q2 QTD operating update, which we view as a positive read-through for TFII. SAIA pointed to solid demand QTD with LTL Shipments per workday and LTL Tonnage per workday coming in above consensus expectations (the decline in LTL Weight per shipment was in line with consensus). While the update reflects company specific factors, we nevertheless view it as pointing to a solid demand environment, which we believe positions TFII well to drive further density at TForce Freight (and subsequent margin improvement).
What happened? SAIA today provided a Q2 QTD operating update. In April 2024, LTL shipments per workday increased 18.0%, LTL tonnage per workday increased 7.6% and LTL weight per shipment declined 8.8% to 1,332 pounds. In May 2024, LTL shipments per workday increased 18.6%, LTL tonnage per workday increased 9.8% and LTL weight per shipment declined 7.4% to 1,345 pounds.
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