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Covenant Logistics: Q2 Earnings Snapshot

$15.4 million, after reporting a loss in the same period a year earlier. The 91 cents per share. Earnings, adjusted for non-recurring costs, came to 96 cents per share. $256.3 million in the period. Covenant Logistics shares have climbed 31% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.41, an increase of 10% in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News 05:28p

Covenant Logistics Group Announces First Quarter Financial

Combined Truckload Revenue Mr. Parker commented on truckload operations, “For the quarter, total revenue in our truckload operations decreased 8.3%, to $154 million, compared to 2020, consistent with our plan to refocus our asset-based fleet around Dedicated and Expedited operations while downsizing solo-driver refrigerated and reducing one-way irregular routes and other less profitable operations. The revenue decrease consisted of $13.0 million lower freight revenue and $1.0 million lower fuel surcharge revenue. The decrease in freight revenue primarily related to a 15.6% average operating fleet reduction, offset by an 8.0% increase in freight revenue per tractor. In the first quarter, we experienced a 4.1% increase in average freight revenue per total mile from $1.84 in 2020 to $1.91 in 2021. Average miles per tractor increased by 3.8% over the prior year period. In addition, the unseated truck percentage increased to 5.3% compared to 3.1% in the prior year period.”

Covenant Logistics Group, Inc (CVLG) Q1 2021 Earnings Call Transcript

Covenant Logistics Group, Inc. (CVLG) Q1 2021 Earnings Call Transcript Motley Fool Transcribing © The Motley Fool Logo of jester cap with thought bubble. Covenant Logistics Group, Inc. (NASDAQ: CVLG) Q1 2021 Earnings Call Joey Hogan Co-President and Chief Administrative Officer Thank you. Now welcome to Covenant Logistics Group s first-quarter conference call. As a reminder for everyone, this call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Please review our disclosures and filings with the SEC, including, without limitation, the Risk Factors section and our most recent Form 10-K and our current year Form 10-Qs. We undertake no obligation to publicly update or revise any forward-looking statements to re

Covenant Logistics Group, Inc (CVLG) Q1 2021 Earnings Call Transcript

Covenant Logistics Group, Inc (CVLG) Q1 2021 Earnings Call Transcript
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