Covenant Logistics Group, Inc. Provides Earnings Guidance for the Third Quarter of Fiscal 2020
September 23, 2020 at 04:05 pm EDT
Share
Covenant Logistics Group, Inc. provided earnings guidance for the third quarter of fiscal 2020. The freight environment in the third quarter has been favorable across all of service offerings, leading to operating results that are exceeding prior expectations. The company expects freight revenue (which excludes fuel surcharge revenue) to range between $190 million and $200 million, average tractor count to be approximately 2,525 and average freight revenue per tractor per week to be approximately $4,025, for the third quarter of 2020.
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. 
