Covenant Logistics Group, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 25, 2021 at 04:34 pm
Share
Covenant Logistics Group, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced total revenue was USD 225.228 million compared to USD 230.556 million a year ago. Operating income was USD 9.566 million compared to USD 1.666 million a year ago. Net loss was USD 25.665 million compared to net income of USD 1.162 million a year ago. For the full year, total revenue was USD 838.561 million compared to USD 885.387 million a year ago. Operating loss was USD 14.027 million compared to operating Income of USD 8.769 million a year ago. Net loss was USD 42.718 million compared to net income of USD 8.477 million 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. 
