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“We’re most affected by the [tariff] instability in our industrial truckload base in the U.S.,” TFI CEO Alain Bédard said during a July 28 conference call with investors.

The Phoenix-based truckload motor carrier posted net income of $34.2 million, or 21 cents a diluted share, for the three months ending June 30. That was 68.7% higher than last year.

Carriers across the various segments of the trucking industry navigated difficult business conditions in 2024 as freight market conditions remained unfavorable.

The Mondovi, Wis.-based company's results took a hammering from both the freight recession and uncertainty precipitated by the Trump administration’s tariff regime, it said April 16.

Trucking is emerging from a difficult period, and the headwinds that have plagued the industry are beginning to weaken as freight volumes improve and capacity leaves the market.

The Lowell, Ark.-based carrier ended the year slightly behind where it was during the prior fourth quarter amid efforts to reinvest and improve operations, the company reported Jan. 16.

FTR expects contract truckload rates to increase 2.2% on a full-year basis in 2025, adding that by the end of 2025, contract rates will be rising 5% year on year.

The trucking industry continued to bounce along the bottom of the freight cycle with third-quarter earnings being generally weak, according to analysts.

The outlook for truckload freight markets and rates is less cloudy after a dismal first quarter, according to carriers and analysts.

Freight forwarding and longhaul trucking for truckload experienced the highest business booms for revenue during the pandemic, a new U.S. Census Bureau transportation analysis shows.