Brief: Covenant Transportation Group Reports Q4 Earnings Per Share Of $0.06

Covenant Logistics

23/01/2020 21:26

Jan 23 (Reuters) - Covenant Transportation Group Inc
 CVTI.O :
    * COVENANT TRANSPORTATION GROUP ANNOUNCES FOURTH QUARTER
FINANCIAL
AND OPERATING RESULTS
    * Q4 EARNINGS PER SHARE $0.06
    * Q4 REVENUE FELL 14.4 PERCENT TO $233.1 MILLION
    * Q4 EARNINGS PER SHARE ESTIMATE $0.14 -- REFINITIV IBES
DATA
    * Q4 ADJUSTED EARNINGS PER SHARE $0.10
    * COVENANT TRANSPORTATION - IN Q4 AND 2019, BATTLED A
DIFFICULT
OPERATING ENVIRONMENT, MARKED BY EXCESS INDUSTRY CAPACITY,
LACKLUSTER FREIGHT VOLUMES
    * COVENANT TRANSPORTATION - IN Q4 AND 2019, BATTLED WITH
COMPETITION FROM FREIGHT BROKERAGE COMPETITORS, HIGHER OPERATING
COSTS
    * EXPECT OPERATING CASH FLOWS, AND OUR LEVERAGE RATIO TO
IMPROVE
FOR FISCAL 2020 COMPARED WITH FISCAL 2019
    * EXPECT TO REDUCE NET LEASE-ADJUSTED INDEBTEDNESS OVER
COURSE OF
FISCAL 2020 FROM A BALANCE SHEET PERSPECTIVE
    * QTRLY ADJUSTED EARNINGS PER SHARE $0.10

Source text for Eikon:  ID:nGNX2P2Q4X 
Further company coverage:  CVTI.O 

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