Covenant Logistics Group, Inc. Q3 Profit Drops, Inline With Estimates

Covenant Transport

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(RTTNews) - Covenant Logistics Group, Inc. (CVLG) announced a profit for third quarter that Drops, from the same period last year in line with the Street estimates.

The company's earnings totaled $9.09 million, or $0.35 per share. This compares with $13.03 million, or $0.47 per share, last year.

Excluding items, Covenant Logistics Group, Inc. reported adjusted earnings of $11.52 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.44 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.1% to $296.89 million from $287.89 million last year.

Covenant Logistics Group, Inc. earnings at a glance (GAAP) :

-Earnings: $9.09 Mln. vs. $13.03 Mln. last year. -EPS: $0.35 vs. $0.47 last year. -Revenue: $296.89 Mln vs. $287.89 Mln last year.