# TFI International Truckload Income Nearly Doubles as US LTL Profit Falls $33 Million

> TFI International's truckload operating income nearly doubled to $100 million in Q3, while US LTL income fell $33 million to $44.4 million on weak density.

- Published: 2026-11-06T15:45:09+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-06/tfi-international-truckload-income-ltl-drop
- Source: [Trucking Dive](https://www.truckingdive.com/news/tfi-international-truckload-profits-eclipse-hit-to-ltl/873630/)

## Key takeaways

- TFI International's truckload operating income nearly doubled to $100 million in Q3 2026.
- US LTL operating income fell $33 million to $44.4 million, the company reported on October 29.
- Average LTL weight per shipment was 1,480 pounds, down 3.6% year over year.
- CEO Alain Bédard said the US LTL business should improve in 2027 despite soft volume.

TFI International's truckload operating income nearly doubled to $100 million in the third quarter, while US less-than-truckload income fell $33 million to $44.4 million, the company said in its October 29 earnings announcement. [Trucking Dive](https://www.truckingdive.com/news/tfi-international-truckload-profits-eclipse-hit-to-ltl/873630/) reported the figures from the transportation conglomerate's results.

## TFI's Truckload Gain and TForce Freight Shortfall

TFI International is a Canadian transport and logistics company that has grown through acquisitions since the 1990s, including UPS Freight in 2021. That business now operates as TForce Freight.

CEO and President Alain Bédard said higher fuel costs and poor LTL density in the US drove the LTL decline, along with constraints in the unionized operations TFI took on with the UPS Freight acquisition. "When you look at our Q3 numbers, we did fantastic everywhere except our U.S. LTL," Bédard said on the earnings call.

As UPS Freight, the business carried retail freight, but TForce Freight has shifted its freight mix entirely to industrial, Bédard said. He said TForce Freight needs to piggyback on the strength of the truckload business. "This is something that's ongoing to try to improve, the weight per shipment, at the same time as the revenue per shipment," he said.

Average weight per shipment in the LTL segment was 1,480 pounds in Q3, a 3.6% decrease from a year earlier, according to the earnings report. Revenue per hundredweight, excluding fuel, declined 0.9% over the same period. TFI is bringing in new talent from outside the UPS world to integrate into TForce Freight, with Bédard saying the issue centers on management rather than drivers or dock workers. He said TFI wants to remain in the US LTL market.

## TFI's Board Addition Before the Quarterly Report

TFI added financial executive Steve Mayer to its board of directors, effective October 29, Trucking Dive reported in September. Mayer brings more than 30 years in investment banking, including roles at Goldman Sachs, Morgan Stanley and Scotia Capital, and will be part of the April board election slate.

Ahead of the results, TFI set Q3 2026 guidance of $1.70 to $1.80 in earnings per share, [Markets Daily](https://finance.yahoo.com/markets/stocks/articles/why-universal-truckload-ulh-might-162002277.html) reported. The company had reported Q2 earnings per share of $1.85, beating estimates.

## How Old Dominion and Saia Compared

Old Dominion Freight Line said it expects Q4 tonnage and revenue to be above seasonality, though rising wages, diesel prices and inflation could create headwinds, [Trucking Dive](https://www.truckingdive.com/news/old-dominion-expects-year-end-performance-to-be-above-seasonality/873107/) reported on November 4. From Q3 2025 to Q3 2026, Old Dominion's average LTL weight per shipment rose 1.9% and LTL revenue per hundredweight excluding fuel surcharges rose 5.1%, according to its earnings announcement.

At Saia, average LTL weight per shipment rose 8.1% over the same period, while LTL revenue per hundredweight excluding fuel surcharges dropped 2.2%, according to an earnings report.

## TFI's 2027 Outlook for US LTL

Bédard said US LTL volume has been soft for years and is expected to continue that way in 2027, though pricing is holding and the US LTL business should improve in 2027. LTL shipments have stabilized this year after a challenging nine months, and the company said service levels must not falter.

## Companies in this story

- TFI International · website: https://tfiintl.com

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