Covenant Transportation Group, Inc. - 4thQuarter 2019 Financial Statistics
Last year information is either: 1) the average for the fourth quarter or 2) the end of the quarter of December 31, 2018.
Fleet Information
Teams - averaged 829 teams (or 27.5% of total fleet) during the quarter versus 866 (or 27.8% of total fleet) last year
Average age of tractors - 2.0 years versus 2.2 years last year
Average age of trailers - 4.2 years versus 3.9 years last year
Owner operators - Ended the quarter with 300 and averaged 306 - accounted for 12.2% of the miles this quarter versus 12.3% of the miles last year
Open trucks, including wrecks - Averaged 1.5% this quarter versus 3.0% last year
Balance Sheet and Cash Flow Information
Cash flow from operations - $24.2 million versus $23.2 million last year
Capital expenditures, net of proceeds from dispositions - approximately $6.5 million netproceedsduring the quarter
Cash and cash equivalents - $43.6 million versus $23.1 million last year
Average receivable days outstanding - 32.6 days versus 33.6 days last year
Available borrowing capacity under our revolving credit facility - $59.8 million versus $57.7 million at 12/31/18
Total indebtedness on various debt instruments, net of cash - $304.6 million versus $254.5 million at 12/31/18
Total indebtedness, net of cash to total capitalization ratio-46.5% versus 42.6% at 12/31/18
Tangible book value per basic share - $15.07 versus $14.65 at 12/31/18
Other Information
Revenue equipment rental expense - $5.7 million during the quarter compared to $4.9 million last year
Total truck miles decreased 2.3% versus a year ago while total average trucks decreased 3.3% versus a year ago
Deadhead percentage - 9.6% versus 9.5% last year
Average length of haul - 613 miles during the quarter versus 639 miles last year
Selected Operating Subsidiary Information
Average
Avg Truck Change
Length of
4thQuarter 2019 Percent of
Revenue Change
Trucks
Vs. Q4-2018
Haul
Truckload Freight Revenue
Vs. Q4-2018
Covenant Transport
1,293
-5%
980
55%
-16%
SRT
790
-10%
624
22%
-22%
Star Transportation
469
4%
870
9%
3%
Landair
464
7%
184
14%
13%
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Covenant Transportation Group Inc. published this content on 23 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 January 2020 22:54:08 UTC
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. 
