Stay updated with breaking news from Excludes Fuel. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
CHATTANOOGA, Tenn., April 27, 2023 -- Covenant Logistics Group, Inc. announced today financial and operating results for the first quarter ended March 31, 2023 and the acquisition of Lew Thompson... | April 27, 2023
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...
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 operat...