Terminal Managers to have more authority!
Sounds like B.S
Current On layoff in Erie Pa
-Looking to get OR to 87 or below by the end of the fourth quarter. Bedard said his ultimate goal is an 80 or below OR for LTL. That only happens with organic growth, new mergers and acquisitions and continuing to gut the fat.
-Transition costs going away after transitioning from UPS back office accounting software. TFI’s software will give better visibility to the company and each terminal to remain profitable and grow, as well as cutting costs in real time like the Canadian model instead of being flat footed like the American model.
-Looking to organically grow freight to around 24,000 to 25,000 shipments (potentially up to 30,000 shipments) per day after cutting out the freight that doesn’t fit. TForce Freight cut 19% of the unprofitable freight out of the system.
-Looking for additional tuck in acquisitions over the next two to three years while continually pursuing that ‘big whale’ acquisition.
The biggest surprise that Bedard let slip was TFII’s 4% share position in ArcBest. It sounded from the call (and Bedard was vague) that he was looking to pursue talks with ArcBest to potentially partner or more in the future. TForce Freight has a lot of real estate that Bedard would like to see put to good use, whether that is through expansion, leasing or selling off some of the real estate within the TForce Freight network.
Good luck everyone. My final thought. Bedard wants to buy ArcBest and merge it with TForce Freight. Time will tell. My guesstimate is within 2 years if it happens.