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Business & Economics

TFI acknowledges US LTL ‘disaster’ and difficult Daseke integration in Q4

FreightWaves
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TFI International's U.S. less-than-truckload operations are struggling years after the acquisition of UPS Freight CEO Alain Bedard .

Bedard also turned his attention to how things are going at another high-profile acquisition: Daseke.

TFI bought the flatbed operator in April .

Bank of America Merrill Lynch cut its rating on TFI to underperform from neutral.

Merrill Lynch cited declining market share in profitable small to medium business, a rise in missed pickups and a claims rate of 0.9% .

TFI said it was going to “re-domicile” in the U.S. in its earnings announcement Wednesday .