secwatch.observer — SEC 8-K summary
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Issuer:     COVENANT LOGISTICS GROUP, INC. (CVLG)
CIK:        0000928658
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001008886-24-000136
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928658/000100888624000136/0001008886-24-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928658/000100888624000136/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001008886-24-000136

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer