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研究快訊:TFII 第一季業績:零擔貨運市場強勁,推動第二季業績指引強勁,但零擔貨運仍步履蹣跚。

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下: 儘管面臨挑戰,第一季每股收益仍達到0.69美元,超過了0.50美元至0.60美元的內部目標區間。總營收為19.5億美元,基本持平,營業收入下降15.7%至9,660萬美元。受貨運量壓力和新增670萬美元事故費用的影響,營業利益率下降100個基點至5.7%。各業務板塊業績差異顯著,整車運輸業務營業收入成長14.3%至5,580萬美元,物流業務成長10.3%至3,440萬美元,零擔運輸業務則表現不佳,營業收入下降35.0%至3,060萬美元,利潤率下降220個基點至4.7%。管理層預計第二季調整後每股收益為1.50美元至1.60美元,顯示貨運市場動態將顯著改善。該公司將季度股息提高4.4%至每股0.47美元,並產生1.237億美元的自由現金流。我們仍擔憂零擔運輸業務持續疲軟,因為受工業需求疲軟的影響,該業務的營業比率惡化220個基點至95.3%,削弱了此前強勁的第二季度業績指引所帶來的樂觀情緒。

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