TFI International’s truckload operations could be merged with a competitor to divide the Montreal-based company into two publicly traded entities, likely in 2025, its CEO said Feb. 9.

Profits at TFI International in the fourth quarter fell 14.4% compared with the same period a year earlier, as acquisitions softened the impact of a weak freight environment.

TFI International Inc., a Canadian carrier that has been growing through acquisitions, announced plans to purchase flatbed specialist Daseke Inc. for $1.1 billion, including debt.

TFI International profits in the third quarter slumped 45.6% year-over-year, with the Canadian company primarily citing weaker market conditions, especially in the truckload market.

TFI International Inc. acquired tank transport specialist Vedder Transportation Group, the company said, in what was its ninth acquisition so far in 2023.

TFI International is set to acquire Class 6 to Class 8 truck manufacturer transportation provider JHT Holdings Inc., it said Aug. 7.

Profits at TFI International Inc. more than halved in the second quarter of 2023 to $128.2 million from $276.8 million in the year-ago period, the company said.

TFI International profits slid year-over-year in the three months ending March 31, with its top executive saying April 26 that conditions in the quarter were tougher than expected.

TFI International more than doubled its first-quarter profit as it capitalized on solid freight demand and the integration of the UPS Freight operations it acquired last year.

TFI International reported gains in fourth-quarter and annual net income and revenue, helped by its acquisition of the UPS Freight operation.