The earnings call revealed a mixed performance with record-breaking revenue and significant growth in the dedicated fleet and Managed Freight segment. However, these were balanced by challenges in margin compression, increased debt levels, and underperformance in certain segments, such as Warehouse and Expedited.

Company Guidance

During the Covenant Logistics Group's Q2 2025 earnings call, the company reported a record high revenue of $276.5 million, marking a 7.8% increase or approximately $20 million over the previous year. Despite the revenue growth, the consolidated adjusted operating income decreased by 19.6% to $15 million due to rising costs in the Truckload segment. The company's share repurchase program led to the buyback of 1.6 million shares at an average price of $22.69, costing $35.2 million, with $13.8 million remaining in their $50 million share repurchase authorization. The net indebtedness increased by $49 million to $268.7 million, resulting in an adjusted leverage ratio of approximately 2x and a debt-to-capital ratio of 39.2%. The Expedited segment reported a 93.9% adjusted operating ratio, slightly improved from the previous year, while the Dedicated segment saw a fleet growth of 162 tractors, increasing freight revenue by $8.3 million or 10.2% year-over-year. Managed Freight exceeded revenue and profitability expectations, although it was noted that this segment is subject to volatility. The Warehouse segment's adjusted operating profit fell by 45% despite flat freight revenue, attributed to increased facility-related costs and inefficiencies in new business start-ups. The company's minority investment in TEL contributed $4.3 million in pretax net income. Looking forward, Covenant Logistics anticipates a slowly improving general freight market, with potential for better results in the latter half of the year due to seasonality and strategic shifts towards specialized segments.

Record-Breaking Revenue

Revenue rebounded to a new record high in Q2 2025, reaching $276.5 million, a 7.8% increase year-over-year, driven by growth in the dedicated fleet and strong new business in Managed Freight.

Share Repurchase Program

Covenant Logistics repurchased approximately 1.6 million shares, reducing the average diluted shares outstanding by 5.7% for a total cost of $35.2 million.

Managed Freight Segment Exceeds Expectations

Managed Freight exceeded both revenue and profitability expectations, benefiting from nonrecurring business and handling overflow freight from Expedited.

Growth in Dedicated Fleet

The dedicated fleet grew by 162 tractors year-over-year, a 11.7% increase, and freight revenue grew by $8.3 million or 10.2%.

TEL Investment Performance

TEL's revenue increased by 34% compared to the prior year, contributing $4.3 million of pretax net income in the quarter.

Covenant Logistics Group (CVLG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CVLG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	0.48 / -	0.545	―	―	―
Jul 23, 2025	2025 (Q2)	0.42 / 0.45	0.52	-13.46% (-0.07)	―
Apr 23, 2025	2025 (Q1)	0.33 / 0.32	0.42	-23.81% (-0.10)	―
Jan 23, 2025	2024 (Q4)	0.49 / 0.49	0.535	-8.41% (-0.05)	―
Oct 23, 2024	2024 (Q3)	0.53 / 0.55	0.565	-3.54% (-0.02)	―
Jul 24, 2024	2024 (Q2)	0.49 / 0.52	0.535	-2.80% (-0.02)	―
Apr 24, 2024	2024 (Q1)	0.40 / 0.42	0.465	-9.68% (-0.05)	―
Jan 23, 2024	2023 (Q4)	0.51 / 0.54	0.685	-21.90% (-0.15)	―
Oct 25, 2023	2023 (Q3)	0.56 / 0.56	0.76	-25.66% (-0.20)	―
Jul 26, 2023	2023 (Q2)	0.48 / 0.54	0.815	-34.36% (-0.28)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CVLG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$24.28	$25.19	+3.75%
Apr 23, 2025	$18.74	$20.70	+10.46%
Jan 23, 2025	$28.78	$27.95	-2.88%
Oct 23, 2024	$25.57	$25.48	-0.35%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Covenant Logistics Group, Inc. (CVLG) report earnings?

Covenant Logistics Group, Inc. (CVLG) is schdueled to report earning on Oct 16, 2025, After Close (Confirmed).

What is Covenant Logistics Group, Inc. (CVLG) earnings time?

Covenant Logistics Group, Inc. (CVLG) earnings time is at Oct 16, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CVLG EPS forecast?

CVLG EPS forecast for the fiscal quarter 2025 (Q3) is 0.48.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing