Covenant Logistics 3Q 2026: Revenue $353.89M, EPS $0.4 — 10-Q Summary
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Covenant Logistics’ third-quarter revenue and earnings increased year over year, as higher Managed Freight revenue and operating income, customer rate increases, and easing spot capacity costs offset lower Expedited revenue and disruption and costs from repositioning assets for committed contracts.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $353.89M | $296.89M | 19.2% |
| Net income² | $10.7M | $9.09M | 17.7% |
| Diluted EPS³ | $0.4 | $0.35 | 14.3% |
¹ Reported as “Total revenue”. ² Reported as “Net income”. ³ Reported as “Net income per share”.
Business Highlights
- Managed Freight: Revenue rose to $121.6M from $72.2M; operating income increased to $7.4M from $3.0M.
- Dedicated: Revenue increased to $115.1M from $105.0M; operating income rose to $6.4M from $4.1M.
- Expedited: Revenue declined to $89.5M from $94.6M as average total tractors fell 21.5%; operating income increased to $7.8M from $5.1M.
- Committed capacity: About 80% of fleet assets were under long-term contracts exiting the quarter; management cited inbound customer demand for additional committed capacity.
- Outlook: The company expects a modest sequential increase in fourth-quarter 2026 earnings per share, with asset-based margin improvement partly offset by lower TEL income.
Original SEC Filing: COVENANT LOGISTICS GROUP, INC. [ CVLG ] - 10-Q - Nov. 06, 2026
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.