---
schema_version: "secwatch.filing_event.v1"
accession: "0001008886-23-000057"
form_type: "8-K"
ticker: "CVLG"
cik: "0000928658"
company_name: "COVENANT LOGISTICS GROUP, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T11:01:37.297384+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Covenant Logistics reports Q1 EPS $1.20; acquires Lew Thompson & Son for ~$100M

## Summary
- Q1 diluted EPS $1.20; adjusted EPS $0.93. Revenue $266.9M, down 8.4% YoY.
- Operating income $17.6M; adjusted operating income $12.6M. Operating ratio 93.4%.
- Acquired Lew Thompson & Son for ~$100M enterprise value plus earnout up to $30M.
- Deal funded by $45M cash and $55M ABL borrowings; pro-forma net debt ~$165M.
- Acquisition expected to be immediately accretive to diluted EPS.

## SEC filing metadata
- accession: 0001008886-23-000057
- form_type: 8-K
- ticker: CVLG
- cik: 0000928658
- company_name: COVENANT LOGISTICS GROUP, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/928658/000100888623000057/0001008886-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/928658/000100888623000057/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001008886-23-000057
- JSON: https://secwatch.observer/filing/0001008886-23-000057.json
- Plain text: https://secwatch.observer/filing/0001008886-23-000057.txt

## Key facts
- Earnings Releases
  COVENANT LOGISTICS GROUP, INC. reported first quarter ended March 31, 2023 results: revenue $ 266,851, net income $ 16,635, EPS $ 1.20.
  - Period: first quarter ended March 31, 2023
  - Revenue: $ 266,851
  - Net income: $ 16,635
  - EPS: $ 1.20
  - Result: reported results
  source text: the amount of $0.9 million.” A summary of our first quarter financial performance: Three Months Ended March 31, ($000s, except per share information) 2023 2022 Total Revenue $ 266,851 $ 291,585 Freight Revenue, Excludes Fuel Surcharge $ 233,422 $ 257,614 Operating Income $ 17,632 $ 23,847 Adjusted Operating Income (1) $ 12,625 $ 24,435 Operating Ratio 93.4 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/928658/000100888623000057/0001008886-23-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.