TFI International Inc. Financial Update: Mixed Signals Amidst Q2 Results

Toronto-based TFI International Inc., a prominent player in the ground transportation sector, has recently been the subject of varied analyst opinions following its second-quarter earnings announcement. The company, which operates across the United States, Canada, and Mexico, reported mixed financial results, prompting analysts to adjust their forecasts and price targets.

Q2 Earnings Overview

TFI International announced its second-quarter results on July 28, 2025, revealing a decline in both operating and net income compared to the same period in the previous year. The company reported a second-quarter operating income of $170.2 million, down from $206.0 million in Q2 2024. Net income fell to $98.2 million from $115.7 million, while adjusted net income decreased to $112.0 million from $145.6 million. Diluted earnings per share (EPS) were reported at $1.17.

Despite the decline in earnings, TFI International’s non-GAAP EPS of $1.34 exceeded expectations by $0.11, although revenue of $2.04 billion fell short by $20 million. Analysts had anticipated a revenue of $2.06 billion for the quarter.

Analyst Reactions and Price Target Adjustments

In response to the Q2 earnings, analysts have adjusted their forecasts and price targets for TFI International. Stifel raised its price target to $96 from $91, citing an upbeat outlook following the earnings report. Conversely, TD Cowen lowered its price target to $107, reflecting concerns about the company’s 2025 outlook.

Benzinga reported that analysts have increased their forecasts for TFI International, buoyed by the positive aspects of the Q2 earnings. This optimism is further supported by the company’s guidance for Q3 2025, where TFI International signals an EPS range of $1.10 to $1.25, focusing on cost control and small and medium business (SMB) growth.

Market Performance and Outlook

As of July 17, 2025, TFI International’s close price was $121.12 CAD, with a 52-week high of $219.48 on December 10, 2024, and a low of $102.57 on April 3, 2025. The company’s market capitalization stands at 10.08 billion CAD, with a price-to-earnings ratio of 19.65.

The mixed signals from the Q2 results and subsequent analyst adjustments highlight the challenges and opportunities facing TFI International. While the company has shown resilience in managing its operations across North America, the varied analyst opinions underscore the importance of strategic focus on cost control and SMB growth as it navigates the remainder of 2025.

For more detailed information on TFI International’s activities and financial performance, stakeholders can visit the company’s website at www.tfiintl.com or follow its trading on the Toronto Stock Exchange.