Earnings ·
Covenant Logistics reports Q3 EPS of $0.40 on revenue growth to $353.9M
CVLGCovenant Logistics Group, Inc.
Covenant Logistics Group reported third-quarter earnings per diluted share of $0.40, up from $0.35 in the prior-year period, with adjusted EPS at $0.50 versus $0.44. Total revenue increased 19.2% to $353.9 million, driven by a 68.4% surge in Managed Freight revenue and strong pricing in Truckload operations. Net income rose to $10.7 million from $9.1 million year ago. The company highlighted margin improvements in its brokerage segment following the acquisition of assets late last year, while noting that cost inflation continues to pressure asset-based fleets. Covenant Logistics Group operates a portfolio of transportation and logistics services including truckload capacity, freight brokerage, and warehousing.