TFI International Inc. (TFII) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. Welcome to TFI International's third quarter 2025 earnings call. At this time, all participant lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Callers will be limited to one question and one follow-up. Again, that's one question and one follow-up so that we can get to as many callers as possible. Further instructions for entering the queue will be provided at that time. Please be advised that this conference call may contain statements that are forward-looking in nature and subject to a number of risks and uncertainties that could cause actual results to differ materially. I would also like to remind everyone that this conference call is being recorded on October 31, 2025. Joining us on the call today are Alain Bédard, Chairman, President, and Chief Executive Officer, and David Saperstein, Chief Financial Officer. I would now like to turn the call over to Alain Bédard. Please go ahead, sir. Well, thank you for the introduction, operator, and welcome everyone to this morning's call. Last evening, we reported our quarterly results that shows additional progress with operating margins, especially for our US LTL. In fact, across our entire company, the men and women of TFI International double down on our core operating principle, which is setting us up nicely for the eventual rebound in freight volumes. I'm also pleased with our free cash flow performance, as this is always one of our top priorities. At more than $570 million year-to-date, this was slightly above the nine-month results from 2024. We use our strong free cash flow to strategically invest in the long term and, whenever possible, return the excess to shareholders. Speaking of which, as you may have s...