05:50 PM EST, 02/17/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

TFI's Q4 EPS beat consensus at CAD1.09 vs. CAD0.85, though revenues missed at CAD1.91B (down 7.8% Y/Y) vs. CAD1.92B due to reduced volumes across all three operating segments. Operating income fell 20.6% to CAD127.2M as operating margin compressed 120 bps to 7.6%, reflecting lower volumes and fixed cost absorption challenges. While TFI demonstrated operational resilience through strong free cash flow performance (up 24.8% to CAD258.9M in Q4, full year up 8.3% to CAD832.3M), demand growth remains elusive across segments. Q1 2026 adjusted EPS guidance of CAD0.50-CAD0.60 missed estimates by about CAD0.20, signaling continued industry headwinds. The company returned over CAD200M through share repurchases during the year and increased its dividend 4% to CAD0.47 per share. We remain cautious as the U.S. LTL operating ratio (OR) improved 200 bps to 95.3%, but other sub-segment ORs deteriorated, making the overall demand recovery picture mixed, in our view.