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Company EarningsLess than Truckload (LTL)NewsTop StoriesTrucking

‘We’re too fat’: TFI International CEO targets costs at US LTL operations

OR up from a year ago; Bedard also sees issues with total shipments and shipment weights

John Kingston
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Costs are an issue at TFI International, according to its CEO. (Photo: Jim Allen/FreightWaves)

With revenue at TFI International ever more dependent upon its activities in the less-than-truckload sector, it is no surprise that was CEO Alain Bedard’s main focus for much of the company’s earnings call with analysts.

The call was entirely Bedard; no other TFI (NYSE: TFII) executives joined in, unusual in any industry.

TFI’s U.S. LTL operations sported a second-quarter operating ratio above 90%, and LTL accounted for 42% of company revenue, so it drew most of Bedard’s attention – and critique.

OR at TFI’s U.S. LTL operations was 90.8%, an improvement from the  91.5% of a year earlier. Asked by an analyst if TFI could get that down to meet an annual target of 88% by the end of the year, Bedard was characteristically blunt.

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    John Kingston

    John has an almost 40-year career covering commodities, most of the time at S&P Global Platts. He created the Dated Brent benchmark, now the world’s most important crude oil marker. He was Director of Oil, Director of News, the editor in chief of Platts Oilgram News and the “talking head” for Platts on numerous media outlets, including CNBC, Fox Business and Canada’s BNN. He covered metals before joining Platts and then spent a year running Platts’ metals business as well. He was awarded the International Association of Energy Economics Award for Excellence in Written Journalism in 2015. In 2010, he won two Corporate Achievement Awards from McGraw-Hill, an extremely rare accomplishment, one for steering coverage of the BP Deepwater Horizon disaster and the other for the launch of a public affairs television show, Platts Energy Week.