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Covenant Logistics Group, Inc. (CVLG)
:CVLG
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.49Last Year’s EPS
0.54Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2018
|% Change Since: 7.35%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with notable achievements in revenue growth, particularly in the Dedicated and Warehouse segments, and successful debt reduction. However, there were significant challenges in the Expedited and Managed Freight segments, coupled with continued market uncertainty and a decline in TEL investment returns.Company Guidance
During the Covenant Logistics Group third-quarter 2024 earnings call, the executives provided detailed guidance using several key metrics. Consolidated freight revenue increased by $5.2 million, or 2.1%, reaching $258.6 million, while adjusted operating income rose by $1.5 million, or 8.3%, to $19.3 million. The asset-based truckload operations, consisting of Expedited and Dedicated segments, saw significant growth with an average tractor count increase of 169 units, or 7.9%, and freight revenue growth of $11.4 million, or 7.2%. Despite challenges in the Managed Freight and Expedited segments, the Dedicated segment excelled, with freight revenue up by $15.7 million, or 23.5%, and adjusted operating income up by $3.2 million, or 73.9%. The company's net indebtedness as of September 30th decreased by $36.6 million to $236.7 million, leading to an adjusted leverage ratio of approximately 1.6x. Looking forward, the executives remain cautiously optimistic about improving freight market conditions and potential rate increases, although they anticipate challenges to persist in the near term.Overall Revenue and Operating Income Growth
Consolidated freight revenue increased by $5.2 million, or 2.1%, to $258.6 million, and adjusted operating income increased by $1.5 million, or 8.3%, to $19.3 million year-over-year.
Dedicated Segment Success
Freight revenue grew $15.7 million, or 23.5%, and adjusted operating income grew $3.2 million, or 73.9% in the Dedicated segment.
Asset-Based Truckload Operations Growth
Average tractor count grew by 169 units, or 7.9%, freight revenue increased by $11.4 million, or 7.2%, and adjusted operating income improved by $1.6 million, or 12.6%.
Improved Warehouse Segment Performance
Warehouse segment saw a 0.5% increase in freight revenue and an 85.1% increase in adjusted operating profit.
Debt Reduction
Net indebtedness declined sequentially by $36.6 million to $236.7 million, achieving an adjusted leverage ratio of approximately 1.6x and a debt-to-capital ratio of 35.4%.
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CVLG Earnings History
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
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CVLG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $25.72 | $25.63 | -0.35% |
| Jul 24, 2024 | $25.28 | $27.36 | +8.23% |
| Apr 24, 2024 | $21.94 | $22.21 | +1.23% |
| Jan 23, 2024 | $24.24 | $24.71 | +1.94% |
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.
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FAQ
When does Covenant Logistics Group, Inc. (CVLG) report earnings?
Covenant Logistics Group, Inc. (CVLG) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Covenant Logistics Group, Inc. (CVLG) earnings time?
Covenant Logistics Group, Inc. (CVLG) earnings time is at Jan 23, 2025, TBA Not 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 2024 (Q4) is 0.49.
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