Welcome to our dedicated page for Covenant Logistics Group news (Ticker: CVLG), a resource for investors and traders seeking the latest updates and insights on Covenant Logistics Group stock.
Covenant Logistics Group, Inc. provides transportation and logistics services through subsidiaries serving customers across the United States. Its recurring news includes financial and operating results for asset-based expedited and dedicated truckload capacity, along with asset-light warehousing, transportation management, and freight brokerage operations.
Company updates also cover freight volumes and rates, fuel and equipment-cost pressures, fleet utilization, customer capacity demand, quarterly cash dividends on Class A and Class B common stock, and logistics platform activity such as the Star Logistics Solutions brokerage business. Covenant’s Class A common stock trades on the New York Stock Exchange under the symbol CVLG.
Covenant Logistics Group (CVLG) reported Q2 2020 financial results, showing a total revenue of $191.7 million, down 11.7% year-over-year. The company experienced a net loss of $22.3 million, with a loss per share of $1.31, compared to net income of $6.1 million in Q2 2019. Operating expenses rose, impacted by restructuring and COVID-19. Freight revenue fell to $179.6 million, down 6.8%. Liquidity improved to $125.4 million, while net indebtedness decreased by $52.4 million, highlighting cash management efforts amid industry challenges.
Covenant Logistics Group (Nasdaq: CVLG) has delayed its second quarter earnings release, which was originally set for July 22, 2020, at 4:00 p.m. Eastern. Consequently, the live conference call to discuss these earnings, planned for July 23, at 11:00 a.m., will also be postponed. Covenant provides a range of transportation and logistics services across the U.S., including expedited and dedicated trucking, warehousing, transportation management, and freight brokerage.
Covenant Logistics Group, Inc. (CVLG) has announced plans to release its second quarter earnings on July 22, 2020, post 4:00 p.m. Eastern time. A live conference call to discuss the earnings will be held on July 23, 2020, at 11:00 a.m. Eastern time. Interested parties can participate by dialing 877-271-1828 for U.S. callers, or 800-756-3333 for international participants, using the access code 47364515. An audio replay will be available for one week after the call. The company provides transportation and logistics services across the U.S.