Covenant Logistics Group, Inc. has announced its financial and operating results for the third quarter of 2023. Despite a challenging freight market, the company reported earnings of $0.99 per diluted share. The asset-based segments contributed more to revenue and income compared to the asset-light segments. The Expedited segment saw comparable freight revenue with fewer tractors but lower margins. The Dedicated segment experienced reduced freight revenue with fewer tractors but improved margins. Covenant's equity investment with Transport Enterprise Leasing contributed pre-tax net income. Overall, the company experienced a decrease in total truckload revenue.
Frequently Asked Questions
Q: What did Covenant Logistics Group announce regarding their financial and operating results?
A: Covenant Logistics Group announced their third-quarter financial and operating results. [Source]
Q: When did Covenant Logistics Group announce their third-quarter results?
A: Covenant Logistics Group announced their third-quarter results on September 30, 2023. [Source]
Q: Did Covenant Logistics Group experience any changes in management during the third quarter?
A: Yes, Covenant Logistics Group announced planned changes to their management during the third quarter. [Source]
Q: What was the revenue for Covenant Logistics Group in the third quarter compared to the previous year?
A: Covenant Logistics Group's third-quarter revenue declined 7% year over year to $288.7 million. [Source]