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Profit at TFI International fell 39.6% in Q1 2025 because of continued freight market weakness and an industrywide decline in truckload volume due to Trump administration tariffs.

TFI International reversed its decision to move its legal headquarters to the U.S., saying it was backing down after shareholders expressed opposition to the idea.

During TFI’s Q4 2024 earnings call with analysts Feb. 20, the company’s top executive said he did not expect any major acquisitions in 2025, after previously promising substantial ones.

Canadian trucking and logistics company TFI International Inc. said it will move its headquarters to the U.S., earning criticism from one of its largest shareholders.

The Montreal-based carrier saw its truckload unit revenue jump 64% to $693.2 million, but revenue at the LTL and Logistics divisions fell by 13% and 14%, respectively.

The three carriers bought a total of seven former Yellow terminals in private deals from the bankrupt LTL carrier’s administrators as each sought to bolster its LTL operations.

A portfolio of 41 Mickey Truck Bodies property tracts in High Point, N.C., has been flipped for $35.52 million to TFI Chassis Portfolio.

TFI International bought truckload and less-than-truckload carrier Keystone Western for an undisclosed sum, the company said in a LinkedIn post.

The Montreal-based transportation and logistics company posted net income of $128 million, or $1.50 a diluted share, for the three months ending Sept. 30.

TFI International’s ongoing acquisition spree is set to accelerate in 2025, with substantial truckload and less-than-truckload deals on the horizon, according to CEO Alain Bédard.