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Lawson Products, Inc. (NASDAQ:LAWS) (“Lawson” or the Company ), a distributor of products and services to the MRO marketplace, today announced that Michael DeCata, President and CEO, and Ronald Knutson, Executive Vice President and CFO, will be participating in the G.research Microcap Symposium on Tuesday, May 18
th with a virtual presentation scheduled at 2:00 p.m. ET. Additionally, management will participate in the Barrington Research Spring Investment Conference on Thursday, May 27
th. For both conferences, management will be available for one-on-one meetings.
About Lawson Products, Inc.
Founded in 1952, Lawson Products, Inc., headquartered in Chicago, IL, sells and distributes specialty products to the industrial, commercial, institutional and government maintenance, repair and operations market (MRO). The Company is dedicated to helping customers in the U.S. and Canada lower their total cost of operation by increasing productivity and effici
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 fuel surcharge revenue. The decrease in freight revenue primarily related to a 15.6% average operating fleet reduction, offset by an 8.0% increase in freight revenue per tractor. In the first quarter, we experienced a 4.1% increase in average freight revenue per total mile from $1.84 in 2020 to $1.91 in 2021. Average miles per tractor increased by 3.8% over the prior year period. In addition, the unseated truck percentage increased to 5.3% compared to 3.1% in the prior year period.”
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 company s reportable segments include Highway Services, Dedicated Contract Services, Managed Freight, and Factoring. Highway Services are further divided into Expedited and OTR while Managed Freight is divided into Brokerage, TMS(Transportation management services, and Warehousing. The Highway and the Dedicated segments contribute to the majority of the revenue.
Covenant Logistics Group Announces First Quarter Financial and Operating Results globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
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 fuel surcharge revenue. The decrease in freight revenue primarily related to a 17.8% average operating fleet reduction partially offset by a 4.5% increase in average freight revenue per tractor per week. Average freight revenue per total mile increased slightly by 1.0 cent per mile, or 0.4%, compared to the 2019 quarter, while average miles per tractor increased by 4.1% as a higher team percentage offset an increase in unseated tractor percentage to 6.2% for the fourth quarter of 2020, from 1