Page 5 - Managed Freight News Today

(1) Represents non-GAAP measures. For the quarter, Warehousings freight revenue increased 33.0% versus the prior year quarter. The increase in revenue was primarily driven by the year over year impact of new customer business that began operations in the third quarter of 2020. Operating income for the Warehousing segment was $1.0 million and adjusted operating income was $1.4 million, compared with $0.7 million and $1.3 million, respectively, in the second quarter of 2020. Opera...

Combined Truckload Revenue Mr. Parker commented on truckload operations, “For the quarter, total revenue in our truckload operations decreased 8.3%, to $154 million, compared to 2020, consistent with our plan to refocus our asset-based fleet around Dedicated and Expedited operations while downsizing solo-driver refrigerated and reducing one-way irregular routes and other less profitable operations. The revenue decrease consisted of $13.0 million lower freight revenue and $1.0 million lower fu...

Price action over last quarter: Up 28.31% Company Description Covenant Logistics Group Inc, formerly Covenant Transportation Group Inc, together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The companys reportable segments include Highway Services, Dedicated Contract Services, Managed Freight, and Factoring. Highway Services are further divided into Expedited and OTR while Managed Freight...

Combined Truckload Revenue Mr. Parker commented on truckload operations, “For the quarter, total revenue in our truckload operations decreased 17.2%, to $145.7 million, compared to 2019, consistent with our plan to refocus our asset-based fleet around Dedicated and Expedited operations while downsizing solo-driver refrigerated and reducing one-way irregular routes and other less profitable operations. The revenue decrease consisted of $21.4 million lower freight revenue and $8.9 million lower...

Quarterly Results Earnings per share increased 510.00% year over year to $0.61, which were in line with the estimate of $0.61. Revenue of $225,228,000 decreased by 3.39% year over year, which missed the estimate of $228,070,000. Guidance Covenant Logistics Group hasnt issued any revenue guidance for the time being. Technicals Companys 52-week low was at $13.23 Price action over last quarter: Up 3.63% Company Overview Covenant Logistics Group Inc, formerly Covenant Transportation Group Inc, toge...