secwatch.observer — SEC 8-K summary
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Issuer:     COVENANT LOGISTICS GROUP, INC. (CVLG)
CIK:        0000928658
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001008886-23-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Covenant Logistics Q4 EPS $0.81 includes $10M equipment charge; record FY EPS $7.00
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- Q4 GAAP EPS $0.81 vs $1.05; adjusted EPS $1.37 vs $1.07. Revenue $296M, freight revenue $255M.
- Q4 operating income $10.9M; adjusted $22.0M. Includes $7.5M lease abandonment and $2.5M excess equipment expense.
- Full year EPS $7.00 (record); adjusted $5.84. Freight revenue over $1B; ROIC 15.3%.
- Expedited segment revenue +25.9% (FEMA/AAT). Dedicated -4.7% (exited unprofitable). Managed Freight -29.6%. Warehousing +31%.
- Net debt $46.4M (10.9% cap). 2023 net capex guided $75-85M; management expects difficult H1 freight market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928658/000100888623000004/0001008886-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928658/000100888623000004/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001008886-23-000004

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