TFI International Operating Income Rises 29% in Second Quarter
The transportation and logistics provider reported a second quarter net income of $136.2 million, a 39% increase over the prior year period
TFI International Inc. (TFII), a North American leader in the transportation and logistics industry, reported second quarter operating income of $220.4 million, up 29% from $170.2 million in the same period last year. Total revenue for the three months ended June 30, 2026, was $2.29 billion, compared with $2.04 billion in the prior year quarter.
Growth was distributed across all three business segments. The Truckload segment saw operating income rise 50% to $105.8 million from $70.6 million. The Less-Than-Truckload (LTL) segment reported operating income of $85.8 million, up from $73.6 million, while the Logistics segment's operating income rose to $49.7 million from $37.7 million.
Fuel surcharges contributed significantly to the top line, totaling $389.9 million in the second quarter of 2026, compared with $243.6 million in the second quarter of 2025.
Operating expenses shifted during the period. Materials and services expenses rose to $1.19 billion from $997.3 million. Personnel expenses remained relatively stable, totaling $626.9 million compared with $617.9 million in the prior year quarter.
Net income for the quarter was $136.2 million, a 39% increase from $98.2 million. Diluted earnings per share rose 41% to $1.65 from $1.17. Adjusted net income increased 36% to $152.5 million from $112.0 million.
Cash flow from operating activities for the three months ended June 30, 2026, was $255.6 million, a 4% increase from $246.7 million. Free cash flow rose 11% to $202.1 million from $182.3 million. The company used $74.6 million for additions to property and equipment during the quarter.
As of June 30, 2026, the company held $205.4 million in cash and cash equivalents. Total assets were $7.49 billion, while total liabilities were $4.76 billion.
The Board of Directors approved a quarterly dividend of $0.47, which represents a 4% increase over the prior year period.