TFI International Inc. is a major player in the North American transportation and logistics industry, operating a vast network that spans the United States, Canada, and Mexico. The company's business model is built on an "Asset-Right" strategy, balancing heavy asset ownership with asset-light logistics services to optimize efficiency and capital allocation. TFI operates through three primary reportable segments: Less-Than-Truckload (LTL), Truckload (TL), and Logistics. The LTL segment, which includes package and courier services, handles the pickup, consolidation, and delivery of smaller freight loads. The Truckload segment provides expedited, flatbed, tank, and dedicated services for full loads. The Logistics segment offers asset-light solutions such as freight brokerage, transportation management, and freight forwarding.
In 2024, TFI International generated approximately $8.4 billion in total revenue. The revenue breakdown by segment was 44% from Less-Than-Truckload, 35% from Truckload, and 22% from Logistics. The company has grown significantly through a disciplined acquisition strategy, completing numerous bolt-on and large-scale acquisitions, such as the purchase of UPS Freight (now TForce Freight) in 2021 and Daseke in 2024. TFI's competitive position is strengthened by its significant scale, diversified service offerings, and ability to serve a wide array of industries, including retail, manufacturing, and e-commerce.
