Covenant Transportation Group, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 23, 2019 at 09:00 pm
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Covenant Transportation Group, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced total revenue was USD 272.268 million compared to USD 203.306 million a year ago. Operating income was USD 22.315 million compared to USD 14.842 million a year ago. Net income was USD 16.501 million compared to USD 49.298 million a year ago. Basic earnings per share was USD 0.9 compared to USD 2.7 a year ago. Diluted earnings per share was USD 0.89 compared to USD 2.68 a year ago. For the full year, total revenue was USD 885.455 million compared to USD 705.007 million a year ago. Operating income was USD 58.986 million compared to USD 28.155 million a year ago. Net income was USD 42.503 million compared to USD 55.439 million a year ago. Basic earnings per share was USD 2.32 compared to USD 3.03 a year ago. Diluted earnings per share was USD 2.3 compared to USD 3.02 a year ago.
Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. The Companyâs primary services include asset-based expedited and dedicated truckload capacity, as well as asset-light warehousing, transportation management and freight brokerage capability. Its asset-based transportation services include two segments: Expedited and Dedicated. The Expedited segment primarily provides truckload services to customers. The Dedicated segment provides customers with committed truckload capacity over contracted periods. The Managed Freight segment includes its brokerage services and transportation management services (TMS). The Warehousing segment provides day-to-day warehouse management services for customers who have chosen to outsource this function. It also provides shuttle and switching services related to shuttling containers and trailers in or around freight yards and to/from warehouses.
COVENANT LOGISTICS GROUP, INC. 
