Covenant Logistics is the latest truckload carrier reporting a key performance record in its first-quarter earnings report, and the company did it while driving fewer trucks.
Earnings of $1.35 per share on a non-GAAP basis were a record for any quarter, Chairman and CEO David Parker stated in Covenant’s earnings release.
Combined truckload revenue — both expedited and dedicated — rose 22.4%, climbing to $187.74 million.
But the company’s performance was not driven just by more revenue on the...