secwatch.observer — SEC 8-K summary
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Issuer:     COVENANT LOGISTICS GROUP, INC. (CVLG)
CIK:        0000928658
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0001008886-24-000261
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928658/000100888624000261/0001008886-24-000261-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928658/000100888624000261/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001008886-24-000261

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