$TFII

Brookfield, TFI in Focus Futures tracking Canada's blue-chip stocks were muted on Tuesday, as investors assessed corporate earnings and monitored developments in the Middle East conflict. The TSX finished Monday with a flourish, gaining 199.04 points to 35,568.14. September futures were flat early Tuesday. The Canadian dollar poked ahead 0.1 cents to 70.9 cents U.S.

Canada’s TSX rose 181.56 points to 35,749.70 on Tuesday, led by tech and telecom. Celestica and TFI beat adjusted Q2 estimates, while miners and energy firms including First Quantum and Cardinal Energy are set to report after the bell. Brookfield raised about $2 billion for a Middle East-focused private equity fund. TSX Venture fell 2.3%.

Canada’s TSX rose by noon EDT, up 98.15 points to 35,266.29, led by tech and consumer stocks. Celestica and TFI International beat Q2 adjusted earnings, with shares up 6.6% and 4.5%. First Quantum and Cardinal Energy were set to report after the bell. Brookfield raised about $2 billion for a Middle East-focused private equity fund. Sherwin-Williams jumped 8% after Q2 results.

TFI International (NYSE:TFII) reported Q2 earnings of $1.34 per share, below the $1.60 consensus, and sales of $1.654 billion, below the $2.216 billion consensus. The company forecast Q3 adjusted EPS of $1.70-$1.80. Shares rose 4.4% to $152.29, and analysts revised price targets after the results.

Canadian stock index futures were little changed Tuesday as investors digested corporate earnings and Middle East developments. Celestica and TFI International beat Q2 adjusted estimates. First Quantum and Cardinal Energy were set to report after the bell. Brookfield raised about $2 billion from strategic anchors, including Saudi Arabia’s sovereign wealth fund, for a Middle East-focused private equity fund.

TFI International (TFII) reported Q2 diluted EPS of $1.65, up 41% year over year, and EBITDA up more than 11%. Profitability gains came mainly from Truckload and Logistics, with LTL margins lagging. Truckload EBITDA margin rose to 24.1% from 19.5% in Q1; LTL margin was 18%. CEO cited supply-driven Truckload pricing, LTL volume costs, and Daseke-related depreciation easing. 2026 OR improvement guidance: Truckload +500 to 600 bps, Logistics +250 to 350 bps, LTL comparable.

Analyst actions roundup following TFI International’s Q2 beat. TFI reported revenue of US$2.29B (+12% YoY) and adjusted EPS of US$1.85 (+38%), above estimates. National Bank Financial raised its target to US$161. Citi, RBC, Desjardins and BofA also adjusted targets and ratings. Separate notes cover Pet Valu and K-Bro Linen.

Toronto’s TSX fell 76.05 points to 35,340.15, with the Canadian dollar at 71.18 U.S. cents. Cogeco Communications missed Q3 revenue estimates, with shares down 3.9% to $122.71. BlackBerry slid 14.2% to $12.84. TFI International rose 7.3% after a Scotiabank rating upgrade. U.S. stocks declined as tech sold off; TSX Venture also dropped.

By noon EDT, Canada’s TSX rose 16.66 points to 35,432.86, helped by a weaker drag from gold and a firmer Canadian dollar at 71.25 U.S. cents. Cogeco Communications fell after missing Q3 revenue estimates. TFI International gained after a Scotiabank rating upgrade. TSX Venture fell. U.S. S&P 500 was little changed; Dow rose on strong UnitedHealth results.

A roundup of analyst actions in Canada’s telecom and transportation sectors. Raymond James initiated coverage of the telecom industry and set BCE at “market perform” with a C$37 target, Quebecor at “market perform” C$72, Rogers at “outperform” C$68, and Telus at “market perform” C$18.50. TD Cowen downgraded Rockpoint Gas Storage to “hold” (C$32). National Bank raised NFI Group to C$29. Scotiabank upgraded TFI International to “sector outperform” with a C$260 target.