TForce | Earnings Report Conference Call Today

[FreightDriver]

Details of conference call:

• Date: Monday, February 6,
  2023
• Time: 5 p.m. Eastern Time
• Call-in number: 1-855-327-6837 or 1-631-891-4304

A recording of the call will be available until Monday, February 20, 2023 at 11:59 PM Eastern Time, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 10020905.

 

[Razforce8120]

Any Comments?

Terminal Managers to have more authority!

Sounds like B.S

Current On layoff in Erie Pa

 

[Toliet Paper]

Did anyone else read the call transcript? ABF is mentioned more than once with TFI owning roughly 4% of ABF stock.

 

[Stimpy]

Any Comments?

Terminal Managers to have more authority!

Sounds like B.S

Current On layoff in Erie Pa

Well Roger is gone.... is his replacement bad?

I had Roger for a tm at CF... he was ok there.

 

[BIG R GUY]

TFI may be interested in talking to ArcBest about operational collaboration, TFI chief says

TFI posted in-line fourth-quarter EPS. Revenue was down in a tough operating environment.

www.freightwaves.com

 

[Razforce8120]

Well Roger is gone.... is his replacement bad?

I had Roger for a tm at CF... he was ok there.

Roger left in 2019 I believe.

His replacement went to run the Philly barn and now out new TM came from YRC.

Us bottom 2 guys got laid off after only working dock because it got so slow. Our bids were taken from us when other bids got cut from guys higher on the board. Only 7 routes going out in the city and sometimes it’s 5 if some get cut for the day.

We’re hoping it picks back up in Q3 to Q4 and some guys retiring will help.

 

[Razforce8120]

And No.

Our new TM in Erie is not that bad.

He just has no damn control over anything. I received my layoff notice in the form of an email from Richmond on 11/30/22. He can’t bring in any extra drivers unless to do so.

 

[Stimpy]

My brother worked there and I have a few friends that still do and 1 that retired....

 

[No port]

Nothing changes in this business. This fact has remained the same for 80 years . You drive to a location, load the trailer, bring it back to the terminal and it gets loaded on another trailer, sent to another location, unloaded, loaded again and delivered. Rinse and repeat.

 

[Razforce8120]

All of the Drivers are cool.

Chris Sutton trained me. He is a really good driver.
All of the drivers have been cool to me.

 

[FreightDriver]

Any Comments?

Terminal Managers to have more authority!

Sounds like B.S

Current On layoff in Erie Pa

My takeaway:

-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.

 

[No port]

My takeaway:

-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.

CEOs always talk a big game. Nothing new there. I haven't seen anything more than rebranding and crap freight gone . The new trucks are absolute garbage. To many bells and whistles, they will cause nothing but problems in the near term. We had one that you couldn't stop the horn from honking because it gave off a false alarm about a door being opened, ridiculous. They also read speed limit signs and slow the truck, problem is the sign was the service road and not the highway, again ridiculous.

 

[flybynite]

CEOs always talk a big game. Nothing new there. I haven't seen anything more than rebranding and crap freight gone . The new trucks are absolute garbage. To many bells and whistles, they will cause nothing but problems in the near term. We had one that you couldn't stop the horn from honking because it gave off a false alarm about a door being opened, ridiculous. They also read speed limit signs and slow the truck, problem is the sign was the service road and not the highway, again ridiculous.

Exactly, had that problem with my tractor. I’d be coming to a overpass doing 67 mph and the damn brakes would lock up with the collision alarm going off. Cameras are crap.

 

[ltltrkr]

Exactly, had that problem with my tractor. I’d be coming to a overpass doing 67 mph and the damn brakes would lock up with the collision alarm going off. Cameras are crap.

You cant buy new trucks without all that stuff now and the guberment wants more safety stuff on them. We had problems but our shop has tools that reset the angles on them so the bridge thing wont happen.