Covenant Logistics Misses Profit, Beats Revenue; Dedicated Truckload Shines

Covenant Logistics Groups Q1 2026 earnings missed profit targets but exceeded revenue forecasts. Net income dropped to $4.4 million, or 17 cents per diluted share, from $6.6 million, or 24 cents, last year. Adjusted earnings per share fell to 26 cents from 32 cents prior, but revenue surged 14% to $307.2 million. Harsh winter weather and fuel costs impacted early results, with an operating ratio of 98% up from 97.2%. Dedicated truckload revenue rose 10.9% to $91.1 million, and managed freight surged nearly 60% to $90.7 million. CEO David Parker noted March momentum, including rising freight volumes, new customer wins, and rate hikes with key shippers. Pricing metrics improved, with average freight revenue per total mile up 9.1% to $2.76. The company plans capex of $40-$50 million this year, down from last. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/441c29379fa4017e