Covenant Logistics Group Announces Third Quarter 2026 Financial and Operating Results
Covenant Logistics reported Q3 2026 total revenue of $353.9 million, up 19.2% year-over-year, with GAAP diluted EPS of $0.40 and adjusted EPS of $0.50 versus $0.44 a year ago. Management highlighted that this was the first quarter since Q2 2022 with adjusted EPS up both sequentially and year-over-year, driven by Managed Freight revenue growth of 68.4% and a stronger TEL equity investment contribution of $5.7 million pre-tax. Roughly 80% of fleet assets are now under long-term contracts, and the company guided to a modest sequential EPS increase in Q4 as repositioning costs moderate.
Key figures
- Eps
- 0.4
- Revenue
- 353894000
- Guidance
- Q4 2026: modest sequential EPS increase; net capex $35.0M-$40.0M for balance of 2026
- Revenue Yoy
- 19.2%
- Net income
- 10704000
- Adjusted eps
- 0.5
- Operating ratio
- 96.5%
- Net indebtedness
- 283927000
- Operating income
- 12494000
- Tel pre tax income
- 5700000
- Adjusted net income
- 13197000
- Tel eps contribution
- 0.16
- Adjusted eps prior year
- 0.44
- Freight revenue ex fuel
- 315050000
- Adjusted operating ratio
- 95.0%
- Managed freight revenue growth
- 68.4%
- Net indebtedness to capitalization
- 40.2%
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