secwatch.observer — SEC 8-K summary
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Issuer:     COVENANT LOGISTICS GROUP, INC. (CVLG)
CIK:        0000928658
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001008886-23-000217
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Covenant Logistics Q3 EPS $0.99 (adj. $1.13); revenue down 7.4%; warns Q4 hit by cyber attack, UAW strike
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- Q3 GAAP EPS $0.99 diluted, adjusted EPS $1.13; operating income $15.1M vs $59.1M YoY.
- Total revenue $288.7M (-7.4% YoY); freight revenue ex-fuel $253.4M vs $266.6M.
- Expedited freight revenue flat; Dedicated down 10.5%; Managed Freight down 11.1%; Warehousing up 14.8%.
- Net debt $183.4M (31.8% leverage) vs $46.3M at Dec 2022; $118M acquisitions, $25.3M share repurchases.
- Outlook: Q4 revenue/earnings to decline due to cyber attack on major Expedited customer and UAW strike.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928658/000100888623000217/0001008886-23-000217-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928658/000100888623000217/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001008886-23-000217

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