COVENANT LOGISTICS GROUP, INC. (CVLG) Form 10-Q — Nov 6, 2026
Covenant Logistics delivered a strong Q3 2026, with total revenue up 19.2% year over year to $353.9 million and diluted EPS of $0.40 versus $0.35 a year ago. Operating income rose to $12.5 million from $7.9 million, ending three consecutive quarters of margin compression as rate increases took hold and spot purchased-transportation costs eased. Growth was driven by Managed Freight (freight revenue +$49.4M, aided by the 2025 Star brokerage acquisition), Dedicated (+$3.8M), and Warehousing (+$1.9M), partially offset by a deliberate $9.6M revenue decline in Expedited as the company re-allocated assets to committed contracts.
Key figures
- Eps
- 0.4
- Revenue
- 353894000
- Guidance
- For Q4 2026, expects a modest sequential increase in EPS, with anticipated operating margin improvement from asset-based operations partially offset by lower income from TEL.
- Net Income
- 10704000
- Revenue Yoy
- 19.2%
- Total Assets
- 1023637000
- Cash Position
- 3736000
- Shares Outstanding
- 20,699,778 Class A and 4,700,000 Class B
- Operating Income
- $12.5M vs $7.9M in Q3 2025
- Dividend Per Share
- $0.07 quarterly
- Net Debt After Cash
- $283.9M, down $12.4M since year-end 2025
- Nine Month Revenue
- 993928000
- Tangible Book Value
- $244.6M
- Gaap Operating Ratio
- 96.5% vs 97.3%
- Nine Month Net Income
- 23659000
- Adjusted Operating Ratio
- 95.0% vs 94.4%
- Credit Facility Available Capacity
- $75.2M
AI analysis
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