Covenant Logistics Q3 results beat estimates on managed freight growth
CVLG•Covenant Logistics reported Q3 revenue of $353.89 million and adjusted EPS of $0.50, beating analyst estimates of $337.50 million and $0.44. Managed Freight growth offset Truckload disruption and added costs.
1. Q3 results
Revenue rose 19% year over year to $353.89 million, above the $337.50 million analyst estimate. Adjusted EPS was $0.50, up year over year and above the $0.44 estimate; net income was $10.70 million.
2. Outlook and drivers
The company expects a modest sequential increase in Q4 2026 EPS, Dedicated fleet growth and a stable Expedited fleet. It attributed results to a higher proportion of its fleet under long-term contracts and Managed Freight growth from integrating acquired assets. Customer rate increases and easing spot transportation costs supported margin improvement.
