Business
TransForce Announces 2013 Third Quarter Results
Total revenue of $775.1 million , up from $761.7 million last year Further EBIT i...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\nTotal revenue of $775.1 million, up from $761.7 million last year\n\n\nFurther EBIT increases in the Package and Courier and LTL segments;\n lower rig moving activity in the energy sector reduced consolidated\n EBIT\n\n\nAdjusted net income of $36.7 million, or $0.38 per share \n\n\nFree cash flow of $53.0 million, or $0.58 per share\n\n\nQuarterly dividend increased 11.5% to $0.145 per share from $0.13\n previously\n\n\n\n\n\nMONTREAL, Oct. 30, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI)\n (OTCQX: TFIFF), a North American leader in the transportation and\n logistics industry, today announced its results for the third quarter\n ended September 30, 2013.\n\n\n\"The profitability of the Package and Courier (\"P&C\") and\n Less-Than-Truckload (\"LTL\") segments further improved, as we reap\n benefits from our constant initiatives to optimize asset utilisation\n and maximize efficiency. In P&C, margins from existing operations\n improved significantly, while we are aggressively proceeding with\n operational changes at Velocity which still generated a loss during the\n quarter. Meanwhile, successful asset rationalization in the LTL segment\n yielded another year-over-year EBIT margin improvement, before gains on\n asset disposal. The Truckload segment experienced a small decline,\n while our Energy sector experienced a major decrease in EBIT affected\n mostly by rig moving operations. The acquisition of E.L. Farmer,\n completed in August, provides revenue diversification and a solid\n platform to leverage going forward in pipe storage and hauling services\n for the oilfield industry. This acquisition, as well as that of Total\n Delivery Systems in September, was financed through a solid free cash\n flow generation of $53.0 million during the quarter,\" said Alain\n Bédard, Chairman, President and Chief Executive Officer of TransForce.\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nFinancial highlights\n\n\nQuarters ended Sept. 30,\n\n\n \n\n\nNine months ended Sept. 30,\n\n\n\n\n(in millions of dollars, except per share data)\n\n\n2013\n\n\n2012\n\n\n \n\n\n2013\n\n\n2012\n\n\n\n\nTotal revenue\n\n\n775.1\n\n\n761.7\n\n\n \n\n\n2,317.1\n\n\n2,361.9\n\n\n\n\nRevenue excluding fuel surcharge\n\n\n694.4\n\n\n683.0\n\n\n \n\n\n2,075.4\n\n\n2,115.9\n\n\n\n\n...