Covenant Logistics Group Q2 2023 Earnings Report

Covenant Logistics Group EPS Results

• Actual EPS: $0.54
• Consensus EPS: $0.43
• Beat/Miss: Beat by +$0.11
• One Year Ago EPS: N/A

Covenant Logistics Group Revenue Results

• Actual Revenue: $274.02 million
• Expected Revenue: N/A
• Beat/Miss: N/A
• YoY Revenue Growth: N/A

Covenant Logistics Group Announcement Details

• Quarter: Q2 2023
• Date: 7/26/2023
• Time: N/A

Covenant Logistics Group (NASDAQ:CVLG), together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows. Its Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length using equipment either owned or leased by the company. The Managed Freight segment offers brokerage services, including logistics capacity by outsourcing the carriage of customers' freight to third parties; and transport management services, such as logistics services on a contractual basis to customers who prefer to outsource their logistics needs. Its Warehousing segment provides day-to-day warehouse management services to customers, as well as shuttle and switching services related to shuttling containers and trailers. The company also engages in used equipment sales and leasing business. It serves transportation companies, such as parcel freight forwarders, less-than-truckload carriers, and third-party logistics providers; and traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. The company was formerly known as Covenant Transportation Group, Inc. and changed its name to Covenant Logistics Group, Inc. in July 2020. Covenant Logistics Group, Inc. was founded in 1986 and is based in Chattanooga, Tennessee.