Business
TransForce Announces 2013 Second Quarter Results
Total revenue of $792.3 million , compared with $812.0 million last year EBIT inc...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\nTotal revenue of $792.3 million, compared with $812.0 million last year\n\n\nEBIT increased in the Package and Courier and LTL segments, but\n decreased on a consolidated basis\n\n\nAdjusted EPS of $0.39 per share, up from $0.38 per share a year ago\n\n\nStrong free cash flow of $91.1 million used to reimburse debt and\n repurchase common shares\n\n\nAgreement to acquire Texas-based E.L. Farmer\n\n\n\n\n\nMONTREAL, July 29, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a\n North American leader in the transportation and logistics industry,\n today announced its results for the second quarter ended June 30, 2013.\n\n\n\"Profit improvements in Package and Courier and Less-Than-Truckload\n (\"LTL\") activities were overshadowed by continued weakness in rig\n moving activities of the energy sector, resulting in lower\n year-over-year revenue and EBIT for TransForce in the second quarter,\"\n said Alain Bédard, Chairman, President and Chief Executive Officer of\n TransForce. \"More importantly, relentless efforts to optimize asset\n utilization, including disposing of excess assets, resulted in a solid\n free cash flow generation of $91.1 million, which was used to reimburse\n debt and repurchase common shares.\"\n\n\n\n\n \n\n\n\n\nFinancial highlights\n\n\nQuarters ended June 30,\n\n\nSix months ended June 30,\n\n\n\n\n(in millions of dollars, except per share data)\n\n\n2013\n\n\n2012\n\n\n 2013\n\n\n2012 \n\n\n\n\nTotal revenue\n\n\n792.3\n\n\n812.0\n\n\n1,542.0\n\n\n1,600.2\n\n\n\n\nRevenue excluding fuel surcharge\n\n\n709.9\n\n\n725.4\n\n\n1,380.9\n\n\n1,432.9\n\n\n\n\nIncome from operating activities (EBIT1)\n\n\n62.3\n\n\n68.6\n\n\n106.8\n\n\n116.1\n\n\n\n\nFree cash flow2\n\n\n91.1\n\n\n58.0\n\n\n111.7\n\n\n96.3\n\n\n\n\nAdjusted net income3\n\n\n37.4\n\n\n37.8\n\n\n61.8\n\n\n62.5\n\n\n\n\n \n\n\nPer share - diluted ($)\n\n\n0.39\n\n\n0.38\n\n\n0.65\n\n\n0.63\n\n\n\n\nNet income\n\n\n26.6\n\n\n34.1\n\n\n45.4\n\n\n64.2\n\n\n\n\n \n\n\nPer share - diluted ($)\n\n\n0.28\n\n\n0.34\n\n\n0.48\n\n\n0.65\n\n\n\n\nWeighted average shares outstanding ('000s)\n\n\n92,561\n\n\n95,642\n\n\n92,702\n\n\n95,616\n\n\n\n\n\n\n1\n\n\nEarnings before finance income and costs and income taxes.\n\n\n\n\n2\n\n\nNet cash from operating activities less additions to property and\n equipment plus proceeds from ...