La degradación de las ganancias por acción (EPS) se contendrá probablemente entre el 25% y el 30% en esta recesión
Covenant Logistics Group is hopeful this cycle won’t bring a material earnings decline, which was the norm in prior downturns.
Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.
Despite a murky economic outlook, Covenant remains optimistic about the company’s business prospects through 2023.
Covenant Logistics Group’s truckload revenue increased 29% year over year to $218 million, despite unprecedented cost inflation and higher insurance costs.
Covenant Logistics Group adopts a $30 million stock buyback plan and acquires AAT Carriers.
Covenant Logistics Group said revenue for the second half of 2022 could be impacted by wage pressures and higher equipment and over-the-road repair costs.
The Chattanooga, Tennessee-based truckload carrier said the outlook is for continued operational progress during 2022.
Covenant Logistics Group’s managed freight segment revenue grew 89% year-over-year during the third quarter, to $90 million.
Chattanooga-based Covenant benefited from an exceptionally strong freight market resulting from growing economic activity, low inventories and supply chain disruptions.
