What caused TFII's significant earnings miss in Q4?

TFII's significant earnings miss in Q4 can be attributed to a combination of factors:

1. **Loss of Small and Medium Business Customers**: TFI International Inc. reported losing small and medium business customers, which resulted in a decline in TForce revenue. This indicates a strategic or operational issue in retaining or expanding its customer base, particularly in the small and medium segments.
2. **Struggling to Manage Costs**: The company mentioned difficulties in managing costs, which could lead to increased expenses and negatively impact net income. This suggests inefficiencies or challenges in managing operational costs, which could be due to factors such as increased fuel costs, labor expenses, or other overheads.
3. **Declining Profitability**: The profitability of its largest business segment was declining, as a result of the aforementioned factors. This indicates a systemic issue within the company's core business units, which is affecting its overall financial performance.

In summary, TFII's significant earnings miss in Q4 is likely a result of a combination of losing small and medium business customers, struggling to manage costs, and declining profitability. These factors collectively paint a picture of operational and strategic challenges that the company is facing.