Covenant Logistics Q2 EPS $0.88 GAAP, $1.04 adjusted; freight revenue up 5.3% YoY

COVENANT LOGISTICS GROUP, INC.

2024-Q2 EPS reported $1.17 revenue$566,260,000

Q2 total revenue $287.5M, freight revenue $256.5M (+5.3% YoY); net income $12.2M ($0.88 diluted EPS) vs $12.3M ($0.91) a year ago.
Adjusted EPS $1.04; adjusted operating income $18.7M (+15.0% YoY); adjusted operating ratio improved to 92.7% from 93.3%.
Combined truckload revenue up 8.7% to $201.5M; weighted average tractors increased 9.1% to 2,294; freight revenue per tractor per week $5,726.
Managed Freight operating income improved 71.2% to $3.3M on 4.6% lower freight revenue; Warehousing operating income $2.0M vs $0.8M.
Net indebtedness $273.3M (39.4% of capitalization); net capex guide $30-40M for H2 2024; TEL contributed $4.1M pre-tax (down from $5.4M).

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.