In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well.
Covenant’s adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago. According to SeekingAlpha, that figure beat the consensus forecast by 4 cents per share. But adjusted operating income, the most basic profitability measure, rose to $14.8...