TFI International Anticipates $75 Million in Tax Savings

TFI International announced during its July 28 earnings call that it expects to save $75 million thanks to the U.S. One Big Beautiful Bill Act tax package. This forecast is dependent on the recent tax law, according to CFO David Saperstein.

The anticipated savings stem from a cash tax benefit related to capital expenditures over a five-year span, with $40 million expected to be realized within the first two years. Executives believe that the tax plan, along with the administration’s budget, could enable the trucking industry to recover from roughly three years of freight recession.

Saperstein noted that the expected tax savings could positively impact other businesses that are making capital investments, many of which are TFI’s customers. CEO Alain Bédard highlighted that investments in various sectors, including industry, housing, and education, may also contribute to economic growth.

“We feel much more optimistic about emerging from the freight recession,” said Bédard, while acknowledging that market demand has continued to falter. Recent truck orders have been inconsistent, and some companies like Knight-Swift Transportation Holdings and Werner Enterprises have revised their forecasts downwards.

Schneider National, on the other hand, reported on July 31 that it would maintain its capital expenditure plan, diverging from the downward trend seen among some competitors. Nonetheless, Bédard mentioned that uncertainties around tariffs are still affecting demand in the industrial market, with many customers hesitant to move forward without clearer economic indications.

TFI has seen a decline in its profitable U.S.-Canada LTL segment, with operating income down to $73.6 million in Q2, reflecting a 33% decrease from last year. Despite lagging industrial sentiment lately, TFI acquired Daseke over a year ago, hoping for an upturn in the sector, with Bédard admitting they might have acted a bit prematurely.

The company is focused on integrating Daseke’s operations and aims to improve its truckload operating ratio, with significant potential gains projected for early 2026. If market conditions improve, these results could come even sooner, Bédard noted, expressing confidence that resolving tariff issues between the U.S., Canada, and Mexico will restore freight volumes.