TFI International reports income, revenue down in first quarter of 2023

TFI International says its net income for the first quarter of 2023 was US$111.9 million, down more than 24 per cent from US$147.7 million a year earlier.

The Montreal-based trucking company says total revenue was US$1.85 billion, down more than 15 per cent from US$2.19 billion a year earlier. 

Earnings per diluted share for the quarter ended were US$1.27, down from US$1.57 a year earlier. 

Chairman, president and CEO Alain Bédard said in a press release that intensifying macro headwinds drove reduced volumes over the past year.