By Connor Hart
TFI International plans to move its legal registration to the U.S. from Canada.
The Montreal transportation and logistics company said Wednesday that it has operated in the U.S. since 2011, and has traded on the New York Stock Exchange since 2020.
"Today, approximately 70% of TFI's operations are based in the U.S., and a plurality of its shareholders are U.S.-based," it said.
It didn't share a timeline for its intended re-domiciliation.
The announcement came as TFI posted a profit of $88.1 million, or $1.03 a share, in the fourth quarter, compared with $131.4 million, or $1.53 a share, a year earlier.
Adjusted per-share earnings came in at $1.19 a share, missing the $1.58 that analysts surveyed by FactSet expected.
Revenue rose to $2.08 billion from $1.97 billion. Analysts were looking for $2.19 billion, according to FactSet.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 19, 2025 17:14 ET (22:14 GMT)
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