Welcome to our dedicated page for COVENANT LOGISTICS GROUP SEC filings (Ticker: CVLG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Covenant Logistics Group, Inc. filings document the public-company record for a Nevada-based transportation and logistics operator with Class A common stock listed on the New York Stock Exchange. Its 8-K reports include operating and financial results, dividend declarations, capital-structure disclosures for Class A and Class B common stock, and other material-event notices.
Proxy and governance filings cover shareholder voting matters, board and executive compensation disclosures, equity-award practices, and incentive-plan arrangements for named executive officers. The filing record also reflects ownership-related disclosures, risk and forward-looking-statement language tied to company results, and formal exhibits such as earnings releases and dividend announcements.
Covenant Logistics Group, Inc. updated severance arrangements for senior executives M. Paul Bunn, James “Tripp” Grant, Dustin Koehl, and Joey Ballard. The amended agreements allow retirement or voluntary separation benefits when an executive provides at least 18 months’ prior written notice and satisfies ongoing employment, release, and other customary conditions.
Under the new terms, a qualifying executive would receive 6 months of salary continuation and 6 months of COBRA reimbursement, and would be subject to a non-compete covenant lasting 12 months after separation. Provisions covering benefits tied to a qualifying change-in-control event or other qualifying severance event remain unchanged.
Covenant Logistics Group reported mixed second-quarter 2026 results. Total revenue was $332.9 million, up 9.9% year over year, with freight revenue of $294.7 million, up 6.6%. Despite this growth, operating income declined to $8.8 million from $11.6 million, and net income fell to $8.5 million, or $0.32 per diluted share, versus $9.8 million, or $0.36, a year earlier, reflecting margin pressure. For the first half of 2026, revenue reached $640.0 million while net income declined to $13.0 million.
At June 30, 2026, stockholders’ equity was $412.9 million and tangible book value was $232.7 million. Total indebtedness, including debt and finance leases net of cash, decreased by $6.6 million to $289.7 million, with $59.1 million of borrowing capacity available under a $130.0 million revolving Credit Facility. Operating cash flow for the first half decreased sharply compared with 2025, and capital needs were managed largely through equipment sales and disciplined borrowing.
The equity investment in Transport Enterprise Leasing contributed $5.3 million of pre-tax earnings in the quarter. Contingent consideration liabilities from recent acquisitions were reduced through $13.1 million of payments, leaving a $9.0 million balance. The company paid $1.8 million in cash dividends during the quarter and recorded legal costs and expected insurance recoveries related to a multi-fatality Texas accident, while stating that claims and insurance expense may remain volatile. Management expects modest sequential EPS improvement in the third quarter as more business shifts to dedicated or otherwise committed contracts and cost controls continue.
Covenant Logistics Group reported Q2 2026 total revenue of $332,873 (in thousands), up 9.9% year over year, and freight revenue excluding fuel surcharges of $294,693 (in thousands), up 6.6%. GAAP net income was $8,535 (in thousands) and diluted EPS $0.32, versus $9,840 (in thousands) and $0.36 a year earlier. Adjusted EPS was $0.42, compared with $0.45.
Combined Truckload revenue grew to $205,786 (in thousands) as the company shifted freight to higher-rate, committed contracts, though freight revenue in that segment declined 3.2% on an 8.6% smaller fleet. Expedited freight revenue fell 11.4% as tractors were reduced 17.0%, but revenue per tractor per week rose 6.8%. Dedicated freight revenue increased 4.3%. Managed Freight revenue climbed 28.4%, largely from acquired assets, but margins compressed as capacity costs rose faster than contractual pricing. Equity income from the 49% stake in Transport Enterprise Leasing was $5.3 million, up from $4.3 million.
Net indebtedness decreased by $6.9 million to approximately $289.7 million, reducing the net indebtedness to total capitalization ratio to 41.2%. Management plans $50–$60 million of net capital equipment spending over the rest of 2026 and is moving more asset-based operations into long-term dedicated or other committed contracts. For Q3 2026, it expects a modest sequential EPS increase, but notes that insurance and claims expense may remain volatile, including after the Supreme Court’s Montgomery decision and potential nuclear verdicts.
Covenant Logistics Group executive Joey Ballard reported routine equity compensation activity. On July 1, 2026, Ballard exercised previously granted restricted stock units that converted into a total of 5,006 shares of Class A common stock.
To cover associated tax obligations upon RSU vesting, a total of 1,970 shares of Class A common stock were withheld at $44.83 per share, classified as tax-withholding dispositions rather than market sales. Following these transactions, the filing shows Ballard directly holding 16,185 shares of Class A common stock.
Covenant Logistics Group EVP and COO Dustin Koehl exercised previously granted restricted stock units into 6,073 shares of Class A common stock on July 1, 2026. In connection with the vesting, 1,480 shares were withheld at $44.83 per share to cover tax obligations, with the balance added to his direct holdings.
COVENANT LOGISTICS GROUP, INC. President Paul Bunn reported routine equity compensation activity involving restricted stock units and related tax withholding. He exercised 7,230 and 7,050 RSUs into Class A common stock, each RSU converting into one share. To cover tax obligations upon vesting, 3,206 and 3,126 shares were deemed withheld at a price of $44.83 per share. Following these transactions, he directly owned 202,817 Class A shares, with additional indirect holdings of 41,266 shares through a 401(k) employer stock fund and 5,030 shares held by his spouse.
COVENANT LOGISTICS GROUP, INC. executive Grant James S III, the EVP and CFO, reported routine equity compensation activity. On July 1, 2026, he exercised previously granted restricted stock units into a total of 7,139 shares of Class A common stock. To cover related tax obligations at $44.83 per share, the filing shows 2,810 shares deemed withheld by the company rather than sold in the open market. These transactions increase his direct stock ownership through compensation while using share withholding instead of cash to satisfy taxes.
Covenant Logistics Group, Inc. amended its main credit facility through a Twenty-First Amendment to its Third Amended and Restated Credit Agreement with Bank of America, N.A., as agent and lender, and JPMorgan Chase Bank, N.A., as lender. The amendment increases the maximum revolving credit amount to $130,000,000, extends the facility’s maturity date to June 17, 2031, adds certain acquired subsidiaries as borrowers, and provides the company with additional flexibility to incur unsecured debt. The full amendment document will be included with the company’s Form 10-Q for the quarter ending June 30, 2026.
Covenant Logistics Group EVP Joey Ballard, the company’s Chief People & Safety Officer, sold 4,000 shares of Class A Common Stock in an open-market transaction on June 1, 2026 at a weighted average price of $40.1467 per share. After this sale, Ballard directly owns 13,149 shares. A footnote explains the reported price reflects a weighted average for multiple trades between $40.00 and $40.25 per share.
Covenant Logistics Group EVP and CFO James S. Grant III reported stock option exercises and related tax withholding. On May 28, 2026, he exercised employee stock options covering a total of 35,794 shares of Class A Common Stock at an exercise price of $7.885 per share. In a separate F-code transaction the same day, 10,430 shares were disposed of at $39.55 per share to satisfy tax obligations. Following these transactions, he directly owns 46,279 shares of Class A Common Stock.