Covenant Transportation Group, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 24, 2020 at 02:31 am IST
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Covenant Transportation Group, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced total revenue was USD 233.135 million compared to USD 272.268 million a year ago. Operating income was USD 3.695 million compared to USD 22.315 million a year ago. Net income was USD 1.162 million compared to USD 16.501 million a year ago. Basic earnings per share was USD 0.06 compared to USD 0.9 a year ago. Diluted earnings per share was USD 0.06 compared to USD 0.89 a year ago. For the full year, total revenue was USD 894.528 million compared to USD 885.455 million a year ago. Operating income was USD 16.034 million compared to USD 58.986 million a year ago. Net income was USD 8.477 million compared to USD 42.503 million a year ago. Basic earnings per share was USD 0.46 compared to USD 2.32 a year ago. Diluted earnings per share was USD 0.45 compared to USD 2.3 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. 
