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TFI International Inc. (NYSE: TFII, TSX: TFII) is a leading Canadian transportation and logistics company headquartered in Saint-Laurent, Quebec, a borough of Montreal. The company operates across North America, including Canada, the United States, and Mexico, through four main business segments: less-than-truckload, package and courier, logistics, and truckload.
TFI International's package and courier segment focuses on the pickup, transport, and delivery of packages throughout North America. This service is critical for businesses and individuals who need reliable and timely deliveries. The less-than-truckload segment specializes in transporting smaller loads that might not require a full truck, offering a cost-effective solution for clients with smaller shipments.
The truckload segment is responsible for transporting goods using flatbed trucks, containers, and other specialized services, ensuring the efficient movement of larger and more complex cargo. Finally, the logistics segment provides comprehensive logistics services, including supply chain management, warehousing, and distribution, catering to diverse client needs.
TFI International has recently achieved significant milestones. Most notably, the company has signed a memorandum of understanding (MOU) with First Phosphate Corp. through its division, Craler Inc. This agreement aims to enhance First Phosphate's global freight logistical competencies, particularly in the Saguenay-Lac-St-Jean region of Quebec, further solidifying TFI's footprint in North American logistics. According to CEO John Passalacqua, smart logistics can lead to cost-savings, a reduction in carbon footprint, and better client satisfaction in the automobile and stationary energy storage industries.
The company's financial condition remains robust, with consistent revenue generated primarily from its operations in Canada and the United States. TFI International continues to expand its market presence through strategic partnerships and acquisitions, such as the acquisition of Craler Inc. in 2019, which has since become a key part of its logistics operations.
TFI International is committed to advancing its service offerings and maintaining a strong market position. With a focus on innovation and efficiency, the company aims to provide unparalleled transport and logistics solutions, ensuring the seamless delivery of goods across the continent.
Murphy USA Inc. (NYSE: MUSA) has appointed David L. Goebel and Rosemary Turner as independent directors. Goebel, with a strong background in restaurant management, has served in executive roles at Applebee's and is currently Non-Executive Chairman at Jack in the Box. Turner brings a wealth of experience from her 40-year career at UPS, where she held leadership positions in transportation and logistics. The board's expansion aims to leverage their expertise to enhance shareholder value and execute the company’s growth strategy.
Loadsmart, a digital freight technology firm, has successfully completed a $90 million Series C funding round led by BlackRock. Key investors include TFI International (NYSE: TFII) and Maersk. Loadsmart's unique, fiscally conservative growth strategy has resulted in a 250% revenue increase since January 2020, while sustaining operational expenses and enhancing service quality. This funding aims to further develop their technology and expand logistics services, solidifying their position in the digital freight market.
TFI International Inc. (NYSE: TFII) announced the appointment of William T. England to its Board of Directors effective October 22, 2020. With 40 years of experience at PricewaterhouseCoopers, England brings a wealth of knowledge in consumer products and SEC compliance, having held senior roles, including Vice Chairman - Client Service. His strategic insights are expected to enhance TFI's growth initiatives as highlighted by Chairman Alain Bédard. TFI operates in the transportation and logistics sector across North America, focusing on acquisitions and efficient subsidiary management.
On September 15, 2020, TFI International declared a quarterly dividend of CAD $0.26 per share, payable on October 15, 2020, to shareholders of record by September 30, 2020. This dividend qualifies as an eligible dividend under Canadian tax regulations. TFI International is a leading North American transportation and logistics company, providing value through strategic acquisitions and a robust network of subsidiaries across various segments including Package and Courier, Less-Than-Truckload, Truckload, and Logistics.
TFI International announced a strategic acquisition of APPS Transport Group, enhancing its position in the transportation and logistics sector across Canada. APPS, established in 1985, generated approximately CAD $100 million in annual revenue and specializes in Less-Than-Truckload and intermodal services. This acquisition aims to optimize operations, enhance customer service, and drive synergies within TFI's network. The strategic fit of APPS with TFI's regions is expected to facilitate revenue growth and improve service quality. The transaction is pending regulatory approval.
On August 27, 2020, TFI International (NYSE: TFII) announced the appointment of Rosemary Turner to its Board of Directors. With over 40 years of experience in the logistics industry, Turner has a strong background in business development and operational management, having formerly served as president of various UPS districts. She brings valuable insights with her extensive director experience across more than 20 organizations. TFI's Chairman, Alain Bédard, expressed enthusiasm for Turner’s deep industry knowledge and commitment to community service, anticipating her impact on TFI's strategic initiatives.
On August 17, 2020, TFI International (NYSE: TFII) announced the completion of a marketed offering of 5,060,000 common shares, raising approximately US $218.8 million. The shares were priced at US $43.25 each, which translates to approximately CAD $290 million. The company plans to utilize the net proceeds for working capital and to reduce outstanding amounts under its credit facilities to enhance availability for future corporate needs, including acquisitions.
TFI International (NYSE: TFII) announced a marketed offering of 4,400,000 common shares priced at US $43.25 each, totaling approximately US $190.3 million. The offering, scheduled to close on August 17, 2020, aims to enhance working capital and reduce debt under a credit facility. The company has also granted underwriters an option to purchase an additional 660,000 shares to cover over-allocation. This move is seen as a strategy to strengthen financial flexibility for future acquisitions and corporate purposes.
TFI International Inc. (NYSE and TSX: TFII) has announced a marketed offering of 4,000,000 common shares in the U.S. and Canada, managed by a syndicate of underwriters led by Morgan Stanley and others. The pricing and size will be confirmed upon entering an underwriting agreement. Proceeds will be used for working capital and to reduce debt. The underwriters have an option for an additional 600,000 shares for over-allocation. An amended base shelf prospectus has been filed, allowing securities distribution until November 2020. Completion is subject to customary conditions.
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