Covenant Logistics Q1 adjusted EPS $0.84; GAAP EPS $0.29 on $8.1M earnout charge

COVENANT LOGISTICS GROUP, INC.

2024-Q1 EPS reported $0.29 revenue$278,763,000

Total revenue $278.8M, freight rev ex-fuel $247.7M; adjusted operating income $14.8M (+17% YoY).
GAAP EPS $0.29 (incl. $8.1M acquisition contingent charge); adjusted EPS $0.84 vs $0.93 last year.
Combined Truckload operating income $87K vs $16.4M; Dedicated segment adjusted operating income $4.7M vs $3.7M.
Net debt $252.1M (38.2% capitalization); $10M post-acquisition earnout paid; capex outlook $60-70M.
TEL equity method income $3.7M pre-tax vs $5.9M due to lower used equipment gains.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COVENANT LOGISTICS GROUP, INC. reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 24, 2024, Covenant Logistics Group, Inc., a Nevada corporation (the "Company"), issued a press release announcing its financial and operating results for the quarter ended March 31, 2024.

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COVENANT LOGISTICS GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001008886-24-000136

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