TFI International Inc TFII reported better-than-expected earnings for the second quarter on Monday.
The company posted quarterly earnings of $1.34 per share which beat the analyst consensus estimate of $1.25 per share. The company reported quarterly sales of $2.04 billion which missed the analyst consensus estimate of $2.07 billion.
“We delivered strong margin performance across all business segments which drove another quarter of solid free cash flow for TFI International,” said Alain Bédard, Chairman, President and Chief Executive Officer. “New segment leadership has sharpened our teams’ focus on our fundamental principles, including quality of revenue and operational efficiencies, enabling us to perform despite still-subdued market conditions. Combined with our strong balance sheet, this quarter’s results demonstrate we are well positioned to capitalize on future demand while continuing to make strategic investments to drive long-term profitability. I am pleased that during the quarter we were able to again return significant capital to shareholders through our consistent dividend and by actively repurchasing our shares, underscoring our dedication to delivering long-term shareholder value.”
TFI International shares gained 3.5% to trade at $93.35 on Tuesday.
These analysts made changes to their price targets on TFI International following earnings announcement.
- Stifel analyst J. Bruce Chan maintained TFI International with a Hold and raised the price target from $91 to $96.
- UBS analyst Thomas Wadewitz maintained the stock with a Neutral and raised the price target from $88 to $90.
- JP Morgan analyst Brian Ossenbeck maintained TFI International with an Overweight rating and raised the price target from $101 to $116.
Considering buying TFII stock? Here’s what analysts think:
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