TFI International estimates that the recent U.S. tax law, the One Big Beautiful Bill Act, will generate approximately US $75 million in savings over the next five years.
The announcement was made on July 28 during the company’s quarterly earnings call.
According to Chief Financial Officer David Saperstein, the amount stems from a cash tax benefit related to capital expenditures, with US $40 million expected to be realized in the first two years. He noted that these savings would not have been possible without the adoption of the new legislation.
TFI executives are also optimistic about the broader effects of the tax plan and the U.S. administration’s budget, which they believe could help revive industrial demand and pull the trucking industry out of a freight recession that has lasted nearly three years.
Trade Tariff Uncertainty
Truck orders in the United States remain inconsistent, with some large carriers—including Knight-Swift Transportation Holdings and Werner Enterprises—lowering their forecasts. Schneider National, however, stated on July 30 that its capital expenditure plan remains unchanged.
TFI CEO Alain Bédard pointed out that uncertainty surrounding trade tariffs continues to dampen industrial demand. “Many customers are staying on the sidelines,” he said, waiting for greater clarity on the direction of the economy.
Cross-Border Segment in Decline
TFI also reported a decline in its profitable cross-border freight volumes between Canada and the United States in its less-than-truckload (LTL) segment. For the second quarter, operating income for the entire sector came in at $73.6 million, down 33% from last year.
Despite a less favorable industrial climate than anticipated, TFI acquired Daseke more than a year ago, betting on a sector recovery.
“We may have been a year too early,” Bédard reportedly acknowledged. The integration of Daseke’s operations and improvements to the operating ratio in the truckload segment could yield results as early as 2026, or sooner if market conditions improve.
The CEO remains confident, saying that while the company is down, TFI is still performing well. He added that resolving trade disputes between the United States, Canada, and Mexico should help restore transport volumes.
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