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TFI International Is Not Just An LTL Story — Here’s Why Truckload Productivity Matters!

TFI International reported first-quarter 2026 adjusted diluted earnings per share (EPS) of $0.69, supported by a stable revenue base of $1.7 billion before fuel surcharges, consistent with the prior year’s quarter. Consolidated operating earnings stood at $97 million, reflecting a 5.7% margin, while net cash from operating activities was $122 million. The company maintained a solid financial position, generating $124 million in free cash flow during the quarter and ending March with a funded debt-to-EBITDA ratio of 2.6. Dividend payments totaled $38 million. Segment-wise, Less-than-Truckload (LTL) represented 38% of revenue before fuel surcharges with $656 million reported, marking a 3% decline year-over-year but showing sequential improvement from the previous quarter’s 10% decline. The LTL segment posted an adjusted operating ratio (OR) of 95.3% and $31 million in operating income, down from $47 million the prior year, yielding a return on invested capital (ROIC) of 11.6%.