CHATTANOOGA, Tenn., July 23, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE: CVLG) (“Covenant” or the “Company”) announced today financial and operating results for the second quarter ended June 30, 2025. The Company’s conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday, July 24, 2025. Chairman and Chief Executive Officer, David R. Parker, commented: “We are pleased to report second quarter earnings of $0.36 per diluted share or $0.45 per diluted share o ...

CHATTANOOGA, Tenn., July 01, 2025 (GLOBE NEWSWIRE) -- Covenant Logistics Group, Inc. (NYSE: CVLG) announced its plans to release its second quarter earnings after 4:00 p.m. Eastern time on Wednesday, July 23, 2025. Covenant Logistics Group, Inc. will hold a live conference call to discuss its second quarter earnings release on Thursday, July 24, 2025, at 10:00 a.m. Eastern time. Individuals with questions may dial in at 877-550-1505 (U.S./Canada) and 0800-524-4760 (International). An audio replay will be av ...

Core Insights - Covenant Logistics Group reported a decrease in adjusted earnings per share to $0.32 for Q1 2025, down from $0.42 in Q1 2024, primarily due to lower equipment utilization caused by adverse weather and avian influenza outbreaks [2][3] - The company remains optimistic about its strategy and market position, with expectations of revenue growth in its Dedicated, Managed Freight, and Warehousing divisions compared to Q2 2024 [2][3] - A new $50 million stock repurchase program was announced, reflecting the company's confidence in its future [2][15] Financial Performance - Total revenue for Q1 2025 was $269.4 million, a decrease of 3.4% from $278.8 million in Q1 2024 [3][21] - Freight revenue, excluding fuel surcharge, was $243.2 million, down 1.8% from $247.7 million in the prior year [3][21] - Net income increased to $6.6 million in Q1 2025 from $4.0 million in Q1 2024, with diluted earnings per share rising to $0.24 from $0.14 [3][22] Segment Performance - Truckload operations saw total revenue decrease by 0.9% to $188.3 million, with freight revenue growing by 2.0% [5][6] - The Expedited segment's freight revenue decreased by 7.3% to $80.2 million, while the Dedicated segment's freight revenue increased by 13.1% to $82.1 million [5][6] - Managed Freight's revenue fell by 9.6% to $56.9 million, but operating income improved by 35.9% [9][10] - Warehousing segment revenue decreased by 6.0% to $24.0 million, with operating income dropping to $1.0 million [10] Operating Metrics - Operating income for Q1 2025 was $7.6 million, compared to $4.3 million in Q1 2024, with an operating ratio of 97.2% [3][21] - The average freight revenue per tractor per week decreased to $5,416 from $5,651, while average miles per tractor per period fell to 27,521 from 31,201 [4][22] - The company reported a weighted average of 2,331 tractors for the period, an increase from 2,167 in the prior year [4][22] Capitalization and Liquidity - Total indebtedness increased by $5.8 million to approximately $225.4 million as of March 31, 2025 [11][12] - The net indebtedness to total capitalization ratio rose to 33.7% from 33.4% at the end of 2024 [11][12] - Cash and cash equivalents totaled $11.2 million, with available borrowing capacity of $90.1 million under its ABL credit facility [13] Outlook - The company anticipates a gradual improvement in the general freight market, although uncertainties regarding global trade policies may pose challenges [16] - Plans for net capital equipment expenditures for 2025 are projected to be between $55 million and $65 million, subject to change based on growth opportunities [14]