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Why is Tfi International Inc (TFII) Stock down?
Shares of TFI Internatiomal (TFII) dropped by 8.49% from $116.67 to $106.76 in the trading on Tuesday, October 24, 2023. The reason why TFII stock down is due to the company's worse-than-expected earnings results. In Q3 2023, TFII reported revenue of $1.91 billion, down 14.8% YoY, and an EPS of $1.57, compared to $2.01 the previous year. Both revenue and EPS missed estimates.
Key metrics also underperformed analyst expectations:
- Adjusted Operating Ratios were higher than estimated.
- Canadian LTL metrics were close to expectations.
- Revenue figures missed expectations across various segments, with fuel surcharge down significantly. These results have raised concerns about TFII's performance, impacting its stock price. Future performance depends on management's response.
Montreal-based trucking company TFI International Inc. has reported a net income of US$111.9 million for the first quarter of 2023, which is a decline of over 24% compared to the US$147.7 million it earned during the same period last year. This news has caused the company's stock to drop. TFI International also revealed that its total revenue for the quarter was US$1.
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