Brief: Covenant Transportation Group Reports Q2 Earnings Per Share $0.33

Covenant Logistics

24/07/2019 21:23

July 24 (Reuters) - Covenant Transportation Group Inc
 CVTI.O :
    * COVENANT TRANSPORTATION GROUP ANNOUNCES SECOND QUARTER
FINANCIAL
AND OPERATING RESULTS
    * Q2 EARNINGS PER SHARE $0.33
    * Q2 REVENUE $219.3 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
$224.4 MILLION
    * Q2 EARNINGS PER SHARE ESTIMATE $0.34 -- REFINITIV IBES
DATA
    * Q2 ADJUSTED EARNINGS PER SHARE $0.35
    * QTRLY FREIGHT REVENUE OF $194.9 MILLION (EXCLUDES REVENUE
FROM
FUEL SURCHARGES), AN INCREASE OF 14.2%
    * "EXPECT BUSINESS TO REMAIN CONSISTENT THROUGH END OF YEAR"
    * TRUCKLOAD FREIGHT ENVIRONMENT REMAINED MUTED THROUGH MOST
OF Q2
CONTRARY TO NORMAL SEASONAL TRENDS
    * BELIEVE CAPACITY IS BEGINNING TO CONTRACT AND EXPECT
CAPACITY
REDUCTION TO CONTINUE THROUGHOUT REMAINDER OF 2019
    * COVENANT TRANSPORTATION - FOR SECOND HALF OF YEAR, FOCUS
BE ON
FINDING OPPORTUNITIES TO IMPROVE PERFORMANCE OF ONE-WAY
TRUCKLOAD SERVICE OFFERINGS

Source text for Eikon:  ID:nGNX5rhpFk 
Further company coverage:  CVTI.O 

 ((Reuters.Briefs@thomsonreuters.com;))