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During the first half of 2022, revenue grew 125% for Less-Than-Truckload……
TFI International Announces 2022 Second Quarter Results
During the first half of 2022, revenue grew 125% for Less-Than-Truckload……
TForce Freight’s operating ratio, which was at 90% a little more than a year ago, hit 88% at the end of the second quarter. The objective is to drive the ratio down to around 80%, but it will likely take two to three years, Bèdard said.
That is what Bedard is thinking as the contract negotiations come closer day by day.There is still plenty of fat to cut.
Beg to disagree. The same UPS mentality managers are still calling the shots. For the most part the drivers and front-line workers do the best they can with what is available. There is still a bloated lower-mid level group of supervisors that do little up to nothing. Bedard says in his conference call the 2 biggest issues are distance between stops on the city end, and line haul inefficiency. Ask any driver and they will tell of countless times they passed up a stop and had to backtrack or passed another going to where they just came from. Same with line-haul. He also mentioned multiple shipments from every stop, makes perfect sense. Ask any city driver that when they call dispatch and tell of another shipment they are told, "they didn't call it in, get it tomorrow". He admitted our service is poor and needs to be improved, and we are working with IT tech that is 30 years old. IMHO until the purge of UPS minded management is done not much will change."
There are still customers that supposedly locked in long term contracts because of UPS deep deep discounting freight rates for increase in small packages.
Those contracts will be sporadically ending and they will face price increases."
These no longer exist, not a single one exists at this time. UPS never ever negotiated LTL freight rates. That has always been done at the freight level. Virtually all LTL contracts can be opted out with advance notice of 30-60 days by either the customer or TForce. The divorce is complete all for the back door IT functions that UPS does for TForce. Folks need to stop pretending that UPS is still running TForce, it isn't.
It could be different at other barns but we have a bunch of customers with locked in contracts at my barn. I’ve even heard some National accounts as well. They are nervous and know they will lose those rates when their contract expires. As those contracts end and we raise their rates to true LTL competitive rates, they either stay or move on."
There are still customers that supposedly locked in long term contracts because of UPS deep deep discounting freight rates for increase in small packages.
Those contracts will be sporadically ending and they will face price increases."
These no longer exist, not a single one exists at this time. UPS never ever negotiated LTL freight rates. That has always been done at the freight level. Virtually all LTL contracts can be opted out with advance notice of 30-60 days by either the customer or TForce. The divorce is complete all for the back door IT functions that UPS does for TForce. Folks need to stop pretending that UPS is still running TForce, it isn't.
Bedard reiterated in the conference call that doing more with less DID NOT mean that they wanted to shortchange wage packages. He wants to increase the base pay in high cost areas as a way to attract talent. In the current employee shortage, I believe that this first contract with TFI will be pretty lucrative. He does want to acquire more tonnage at our current pickups and reduce miles between stops. Could mean a shift away from daily rural deliveries.That is what Bedard is thinking as the contract negotiations come closer day by day.
Wrong!"
There are still customers that supposedly locked in long term contracts because of UPS deep deep discounting freight rates for increase in small packages.
Those contracts will be sporadically ending and they will face price increases."
These no longer exist, not a single one exists at this time. UPS never ever negotiated LTL freight rates. That has always been done at the freight level. Virtually all LTL contracts can be opted out with advance notice of 30-60 days by either the customer or TForce. The divorce is complete all for the back door IT functions that UPS does for TForce. Folks need to stop pretending that UPS is still running TForce, it isn't.
That ought to cut claims by 50% alone.Wrong!
Rouge fitness, , sun setter, and lake shore all had or have existing contracts.
Almost all have just expired.
We aren't getting near as or hardly any of rogue, or sun setter, and Lakeshore is now having to pay sort and seg rates
Ya really want to shake the tree... Demand regional supplements...I think we need to hold fast for equal pay and benefits across the board no matter where you live.