TFI International announced its plans to move company headquarters from Canada to the United States this week.
TFI reported on Wednesday, February 19th that fourth-quarter profits dropped by a third year–over-year.
According to BNN Bloomberg, Chairman and CEO Alain Bédard described the quarter as a “disaster” and said that the outlook for the first half of 2025 is “foggy.” Bédard attributes part of the downturn to inefficient operations at two different companies it acquired in the last few years, and also cites a weaker freight market overall.
Bédard says that the company plans to relocate its legal headquarters from Montreal, Canada to somewhere in the United States. A location for TFI’s new US headquarters has not been released.
Office and management teams will not be physically relocated.