Key Highlights

  • TFI International shares fell 17.08% on October 30, 2026.
  • Adjusted Earnings of $1.67 per share missed the $1.75 consensus.
  • LTL Operating Income fell 43% to $44.4 million.
  • A contract worth $30.4 million of quarterly Revenue will not be renewed.

TFI International (NYSE:TFII) fell 17.08% on Friday after the transportation and logistics company reported third-quarter results that missed adjusted profit expectations, showed a steep drop in income from its less-than-truckload Business and disclosed that a sizable contract will not be renewed. Results were released after the close on Thursday, October 29.

The Numbers

Total revenue rose 13% to $2.23 billion from $1.97 billion, in line with expectations. Net Income climbed to $105.7 million, or $1.28 per diluted share, from $84.7 million, or $1.02. Adjusted earnings were $1.67 per share, up from $1.20 a year earlier but short of the $1.75 consensus, so the shortfall was in profitability rather than sales.

Segments Diverged

Truckload operating income nearly doubled to $100.2 million, and logistics earned $49.4 million. The less-than-truckload business fell 43% to $44.4 million, including a $14.4 million non-cash Impairment on an office building. Free Cash Flow dropped to $116.4 million from $199.4 million. The company also disclosed that a contract contributing $30.4 million of third-quarter revenue will not be renewed after January 31, 2027.

Guidance Added Caution

TFI guided fourth-quarter adjusted earnings to $1.30 to $1.40 per share, below the $1.67 just reported, and expects flat to slightly worse LTL performance. The board raised the quarterly Dividend to $0.47 from $0.45, and chief executive Alain Bédard said the company's financial foundation would let it "remain highly strategic going forward regardless of the cycle."

Peers Rallied, TFI Did Not

Several transport peers, including Universal Logistics (NASDAQ:ULH), Covenant Logistics Group (NASDAQ:CVLG) and FedEx Freight Holding (NYSE:FDXF), rallied on their own results the same day, so TFI's fall was driven by its own report. The S&P 500 fell 140.32 points, or 1.8%, to 7,580.07 and the Nasdaq Composite dropped 747.73 points, or 2.9%, to 25,437.00, as Intel (NASDAQ:INTC)'s weak outlook triggered a chip rout and Amazon (NASDAQ:AMZN)'s results revived worries about AI spending.

LTL Recovery Is the Question

Investors will watch whether TFI hits its fourth-quarter guidance, whether LTL shows signs of recovery and how freight Demand and fuel costs evolve.