TFI CEO Vows Manager Purge Amidst U.S. LTL Woes

TFI International's CEO Alain Bédard has signaled a significant shake-up within its U.S. less-than-truckload (LTL) operations, citing disappointing third-quarter 2026 results. Bédard directly criticized the management of the U.S. LTL division, operating under the TForce Freight brand, describing its performance as a "broken record."

The U.S. LTL segment's operating ratio deteriorated to 91.3 in Q3 2026, a decline from 88.8 in the prior year. Bédard highlighted that the U.S. operations are closer to a 97 operating ratio, while the Canadian segment performs much better at sub-75.

In response, TFI plans to recruit managers from rival trucking companies to fill key roles within its U.S. LTL operations. Additionally, the company is focusing on expanding its nonunion fleet, a move intended to bolster efficiency and address density issues.

The company acquired UPS Freight in 2021 for $800 million, rebranding it as TForce Freight. Despite a strong performance in TFI's truckload division, revenue for the LTL segment dipped 1.4% to $677.7 million in Q3, with operating income falling 42.9% to $44.4 million.

Bédard also noted that TForce Freight's legacy contract with UPS, set to conclude in January 2027, presents an opportunity for future improvement once resolved.