Covenant Logistics Group Inc

Covenant Logistics Group, Inc. is a holding company, which engages in the provision of freight and logistics services. It operates through the following segments: Highway Services and Dedicated Contract Services. The Highway Services Segment includes two separate service offerings: Expedited Services (Expedited) and Over-the-Road Services (OTR), both of which transport one-way freight over non-routine routes. The Dedicated Contract Services Segment provides similar transportation services, but does so pursuant to agreements whereby equipment available to a specific customer for shipments over particular routes at specified times. The company was founded by David Ray Parker in 1986 and is headquartered in Chattanooga, TN.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Covenant Logistics Group reports record earnings but anticipates challenges ahead

Covenant Logistics Group's strong performance in 2022 was marked by record earnings and revenue, despite some challenges.
Management's focus on cost improvements, customer value, and market navigation positions the company for long-term success.
While facing headwinds in 2023, the company remains optimistic about growth opportunities and maintaining customer relationships.
Anticipated margin compression in Managed Freight highlights the need for strategic adjustments to drive future profitability.

Covenant Logistics Group reports Q1 revenue decline, eyes growth opportunities

Covenant Logistics Group faced revenue and income declines in Q1 2023, with challenges in certain segments offsetting strengths like cost reductions and strategic acquisitions. Despite market softness, the company is eyeing future growth through capital allocation strategies and potential M&A opportunities.

Covenant Logistics reports Q2 revenue decline, eyes operational efficiency

Covenant Logistics Group navigated challenges in Q2 2023 with declines in revenue and profitability but showcased resilience and strategic acquisitions.
Effective cost management and sequential profitability improvements highlight the company's ability to adapt to market conditions and enhance operational efficiency.
While facing increased indebtedness and lower returns, Covenant Logistics remains optimistic about future growth opportunities and operational enhancements.

Covenant Logistics Group reports Q3 decline, eyes long-term growth

Covenant Logistics Group (CVLG) faced a decline in Q3 2023 financial performance, with revenue and income metrics down. Despite challenges, the company demonstrated strengths in strategic planning, successful acquisitions, and operational improvements. Looking ahead, CVLG aims to navigate challenges, capitalize on opportunities, and drive growth through long-term strategies.

Covenant Logistics Group reports Q4 resilience amidst freight challenges

Covenant Logistics Group navigated challenges in the freight environment, with a focus on improving financial performance and operational efficiency across segments.
Strategic acquisitions and operational improvements are driving growth opportunities, positioning the company for enhanced performance in 2024.
Despite facing revenue and profit declines in certain segments, Covenant Logistics Group aims to leverage strengths and opportunities to drive margin improvement and financial growth.

Covenant Logistics Group (CVLG) reports growth amidst market challenges

Covenant Logistics Group (CVLG) demonstrated resilience and growth in Q1 2024, with positive revenue and operational improvements.
While facing challenges such as market softness and declining returns, the company remains optimistic about future growth opportunities.
Strategic investments in equipment and operational efficiencies underscore a focus on sustainable expansion and financial stability.
Adaptation to market conditions and continued focus on growth drivers position Covenant Logistics Group for long-term success.

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CHATTANOOGA, Tenn., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) (“Covenant” or the “Company”) announced today the adoption of a $30 million stock repurchase program and an acquisition.

Covenant Logistics Group Announces Stock Repurchase Program and Acquisition

Covenant Logistics Group management expects earnings in the first half of 2022 to be the same or higher as the first half of 2021 but anticipates slower earnings growth the rest of the year. The Chattanooga, Tennessee-based carrier reported adjusted earnings per share of $1.07 for the fourth quarter after the market closed Wednesday.

Covenant expects strong freight market for 1st half of 2022

Covenant Logistics Group, Inc. (CVLG) CEO David Parker on Q4 2021 Results - Earnings Call Transcript

Covenant Logistics Group reported Wednesday after the market close fourth-quarter earnings of $1.07 per share on total revenue of $294.2 million, a 31% increase compared to the same period in 2020. Covenant beat analysts' expectations for earnings per share of $1.04 and revenue of $282 million in Q4 2021.

Covenant beats expectations, delivers upbeat forecast

Covenant Logistics (CVLG) delivered earnings and revenue surprises of 2.88% and 4.34%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Covenant Logistics (CVLG) Surpasses Q4 Earnings and Revenue Estimates

CHATTANOOGA, Tenn., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) (“Covenant” or the “Company”) announced today financial and operating results for the fourth quarter ended December 31, 2021. Additionally, the Company announced that it will initiate a quarterly cash dividend of $0.0625 per share in the first quarter of 2022. The Company's live conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, January 27, 2022.

Covenant Logistics Group Announces Fourth Quarter Financial and Operating Results and Initiates Quarterly Cash Dividend

Nikola

Covenant Logistics Group Inc (NASDAQ: CVLG) has signed a collaboration agreement with Nikola Corp (NASDAQ: NKLA) to add 50 zero-emission vehicles to its fleet. The agreement includes a Letter of Intent (LOI) for 10 Nikola Tre battery-electric vehicles (BEVs) and 40 Nikola Tre fuel cell electric vehicles (FCEVs).

Covenant Logistics Inks Letter Of Intent For 50 Nikola Zero-Emission Vehicles

PHOENIX, Jan. 11, 2022 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, and Covenant Logistics Group, Inc. (Nasdaq: CVLG), a premier total logistics provider based in Chattanooga, Tenn., announced today a collaboration that will further Covenant's sustainability objectives by adding 50 zero-emission vehicles to their fleet.

Covenant Logistics Group, Inc. Signs Letter of Intent for 50 Nikola Tre BEVs and FCEVs

Covenant Logistics Group has an interesting operating history, with generally positive cash flow figures. This year is looking particularly good for the enterprise as it recovers nicely from the worst of the pandemic.

Covenant Logistics Group: Upside Is Impaired Some By Volatility

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Wolfe Research analyst Scott Group downgraded the trucking sector to Underweight from Market Weight and adjusted the ratings for several related stocks. Group says while supply chains remain under "significant stress with few signs of improvement," inventory levels are finally starting to improve.

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Covenant Logistics (CVLG) closed at $24.08 in the latest trading session, marking a +1.47% move from the prior day.

Covenant Logistics (CVLG) Outpaces Stock Market Gains: What You Should Know

Here is how Covenant Logistics (CVLG) and Norfolk Southern (NSC) have performed compared to their sector so far this year.

Has Covenant Logistics (CVLG) Outpaced Other Transportation Stocks This Year?

Covenant Logistics (CVLG) closed at $23.73 in the latest trading session, marking a +0.89% move from the prior day.

Covenant Logistics (CVLG) Gains But Lags Market: What You Should Know

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In the latest trading session, Covenant Logistics (CVLG) closed at $23.75, marking a -0.5% move from the previous day.

Covenant Logistics (CVLG) Stock Moves -0.5%: What You Should Know

In the latest trading session, Covenant Logistics (CVLG) closed at $24.51, marking a -0.53% move from the previous day.

Covenant Logistics (CVLG) Stock Sinks As Market Gains: What You Should Know

Is Covenant Logistics (CVLG) Stock Outpacing Its Transportation Peers This Year?

The average of price targets set by Wall Street analysts indicates a potential upside of 25.4% in Covenant Logistics (CVLG). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Does Covenant Logistics (CVLG) Have the Potential to Rally 25% as Wall Street Analysts Expect?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy Covenant Logistics (CVLG) Stock?

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We have screened bargain stocks TA, ASO, ASX, UVE and CVLG based on EV-to-EBITDA ratio that offers a clearer picture of valuation and earnings potential.

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Covenant Logistics (CVLG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

All You Need to Know About Covenant Logistics (CVLG) Rating Upgrade to Strong Buy

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Is Covenant Logistics (CVLG) Stock Undervalued Right Now?

Covenant Logistics Group, Inc. (CVLG) CEO David Parker on Q3 2021 Results - Earnings Call Transcript

Labor, rising fuel and insurance costs, and the “frothy freight market” were key talking points on Covenant Logistics Group's third-quarter earnings call Thursday with analysts.  Covenant beat analysts' earnings-per-share and total revenue estimates for Q3, owing in large part to strength in its managed and expedited divisions.

News for Covenant Logistics Group Inc Stock (CVLG)