Covenant Logistics had one of the later earnings releases among truckload carriers. But some of the comments from President Joey Hogan on its earnings call Thursday summarized the market conditions facing carriers following a bountiful first three months of the year.
It was Hogan’s overview of the cost side of the ledger that could be applied to other truckload carriers as well.
Hogan noted that Covenant (NASDAQ: CVLG) raised wages several times last year “in a market where we had to move.”...