PR: TFI International announces Q1 '21 results

PRESS RELEASE

– First quarter total revenue of $1.15 billion increased from $0.92 billion in Q1 2020

– First quarter operating income from continuing operations of $101.7 million increased from $87.3 million in Q1 2020

– First quarter diluted EPS from continuing operations of $0.70 up from $0.65 in Q1 2020, while adjusted diluted EPS1 of $0.77 increased from $0.61

– First quarter net cash from continuing operating activities of $155.2 million increased from $137.2 million in Q1 2020

Montreal, Quebec, April 27, 2021 – TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced its results for the first quarter ended March 31, 2021. All amounts are shown in U.S. dollars. “During a quarter that marked the one-year anniversary of both our listing on the New York Stock exchange and the pandemic outbreak across North America, TFI International produced strong year-over-year results, including a 17% increase in operating income and a 26% increase in adjusted diluted EPS,” said Alain Bédard, Chairman, President and Chief Executive Officer.

“Our growth across these measures along with our expansion of cash flow, is all the more remarkable considering DSU and transactional expenses incurred, reflecting the tireless efforts of our team and our strategic moves to preserve growth opportunities during an unprecedented year. As we gain perspective on the events of 2020, it is increasingly clear that TFI International has emerged even stronger, through our relentless focus on the fundamentals, now combined with our transformative upcoming acquisition of UPS Freight. As a company, we are exceptionally well positioned to capitalize on the ongoing economic recovery to generate strong cash flow that we can put toward strategically expanding our business in our quest to create further shareholder value.”

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