The transportation sector continues to weather a protracted freight recession, with persistent margin compression and volume headwinds challenging even the most established operators. Within the confines of this difficult backdrop, TFI International NYSE: TFII delivered first-quarter results that suggest a cyclical bottom is forming for best-in-class logistics companies.
TFI International is one of North America's largest transportation and logistics businesses operating across Canada, the US, and Mexico through 3 main segments: less-than-truckload, truckload, and logistics. The business generates more than 70% of its revenue from the United States, which gives it exposure to the largest freight market on the continent. The latest developments confirm two things: business conditions remain soft, but management is still pulling the right levers.
TFI International (TFII) faces persistent industry headwinds, including weak demand, overcapacity, and policy risks, warranting only a 'hold' rating. Recent financials show revenue and net income declines, with 2025 guidance indicating further contraction in earnings and cash flows. AI-driven efficiency tools and regulatory changes threaten to exacerbate supply-demand imbalances and driver shortages in the trucking sector.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TMB Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 16,739 | $783,887.37 | $762,210.36 | -$21,677.01 | -2.77% |
| CE Curtis Ellergodt Rothschild Investment LLC | 169 | $7,760.94 | $7,695.41 | -$65.53 | -0.84% |
| BS Barrett Schultz Ashton Thomas Securities LLC | 87,766 | $4M | $4M | -$1,911.05 | -0.05% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 57,829 | $2.66M | $2.63M | -$26,802.58 | -1.01% |
| JS Jason Skolnick FIRST NATIONAL Corp. /MA/ /ADV | 44,291 | $2.06M | $2.02M | -$38,823.53 | -1.89% |
| ARCA Exchange | US Country |
The fund referenced is designed for investors seeking to invest in the U.S. tax-exempt bond market. It commits at least 80% of its total assets in securities that are part of or possess economic characteristics similar to those in its benchmark index. This approach ensures that the fund closely tracks the performance of the U.S. fully tax-exempt bond market, providing investors with a targeted investment strategy that focuses on tax-exempt bonds. The management of the fund relies on the expertise of a Sub-Adviser to select securities that not only are part of the index but also those that, while not included, share similar economic traits. This strategic selection is critical in mirroring the index's performance and offering investors potential tax-exempt income.
The fund focuses on offering investment services that align with its primary objective of tracking the U.S. fully tax-exempt bond market. These investment services include: