We did a TFII flash report last year. An updated reported is due before the end of June. We are trying to get investors to focus on the long term. A report on every 'miss' would only encourage short term thinking and reaction. In addition, we get plenty of questions on every 'miss' and a report would be largely redundant to comments posted here. It is important to note that a miss may be related to a company positioning itself for the long term. A stock can decline without a miss, or still go up with a miss. Investors should not be convinced to transact just because a stock is volatile. This is pretty much the recipe for poor performance. Companies will miss numbers. Even those that never do can still see stock volatility, as investors simply price in high expectations which at times will not be met. TFII's chart over the past 10 years looks like a staircase, with some decent dips. It has missed five of the past eight quarters and we count 15 'misses' in the past decade. But even so, during this time the stock has risen 641% (from May 2014). Since the 2008 financial crisis, it has only seen three calendar years where the stock declined (2015, 2017, 2022). Essentially, then, any shareholder with a decent timeframe who sold on a 'miss' would have lost out on gains. In its entire history, other than in the financial crisis, the stock has never had two consecutive down years. Timeframe can be crucial.
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