Covenant

Covenant beats expectations, delivers upbeat forecast

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. It was the second consecutive quarter the company topped estimates for earnings and revenue.

Covenant’s (NASDAQ: CVLG) total freight revenue excluding fuel surcharges increased 27%...

https://www.freightwaves.com/news/covenant-beats-expectations-delivers-upbeat-forecast

Covenant gets Q3 boost from managed, expedited divisions

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. But Chairman and CEO David Parker said inflation is affecting the entire trucking industry and could wreak havoc on smaller carriers over the next year or so.

“There is a...

https://www.freightwaves.com/news/covenant-gets-q3-boost-from-managed-expedited-divisions

Covenant beats analysts’ expectations with $274M in revenue

Covenant Logistics Group reported Wednesday after the market close third-quarter earnings of $1.02 per share on total revenue of $274.5 million, a 30% increase compared to the same year-ago period.

Covenant beat analysts’ expectations for earnings per share of $1 and revenue of $234 million.

David R. Parker, Covenant’s chairman and CEO, said the $1.02 per share earnings was the highest earnings for any quarter in the company’s history. 

“In the third quarter we experienced the continuation of an...

https://www.freightwaves.com/news/covenant-beats-analysts-expectations-with-274m-in-revenue

Investors, Wall Street research firm like Covenant’s bullish forecast

The bullish forecast by Covenant Logistics for its third-quarter operating ratio and freight revenue has sent the company’s stock soaring on the day after its disclosure.

At approximately 1:45 p.m. EDT Thursday, the stock of Covenant was up about 10% to $17.73, a gain of $1.62 on a day when the market overall as measured by S&P 500 was up about 1.2%. 

Other truckload stocks appeared to be getting a boost from the Covenant news, though their gains were not that much more than the broader market....

https://www.freightwaves.com/news/investors-wall-street-research-firm-like-covenants-bullish-forecast

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