First look: Covenant Logistics’ Q3 freight revenue surges 68%

Covenant Logistics Group reported a 19.2% year-over-year increase in third-quarter revenue Thursday, driven by strong growth in its managed freight segment.

The Chattanooga, Tennessee-based carrier (NYSE: CVLG) generated $353.9 million in total revenue for the quarter ended Sept. 30, compared with $296.9 million a year earlier.

Other highlights during the quarter included improved freight pricing, even as the trucking company continued shrinking its tractor fleet and shifting capacity toward long-term contracts.

Net income increased to $10.7 million, or 40 cents per diluted share, compared with $9.1 million, or 35 cents per share, in the third quarter of 2025.

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