Brief: Covenant Transportation Reports Q3 Loss Per Share $0.17

Covenant Logistics

22/10/2019 21:04

Oct 22 (Reuters) - Covenant Transportation Group Inc
 CVTI.O :
    * COVENANT TRANSPORTATION GROUP ANNOUNCES THIRD QUARTER
FINANCIAL
AND OPERATING RESULTS
    * Q3 LOSS PER SHARE $0.17
    * Q3 REVENUE $222.9 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
$212.7 MILLION
    * Q3 EARNINGS PER SHARE ESTIMATE $0.03 -- REFINITIV IBES
DATA
    * Q3 ADJUSTED LOSS PER SHARE $0.08
    * QTRLY TOTAL REVENUE OF $222.9 MILLION, A DECREASE OF 8.4%
COMPARED WITH Q3 OF 2018
    * EXPECT Q4 PRICING AND VOLUME LEVELS TO REMAIN SUBDUED
COMPARED
WITH LAST SEVERAL HOLIDAY PEAK SEASONS
    * EXPECT Q4 COMBINED INSURANCE AND CAPITAL COSTS TO DECREASE
SEQUENTIALLY AS COMPARED TO Q3 OF 2019
    * ANTICIPATE CONSOLIDATED ADJUSTED NET INCOME TO IMPROVE
SEQUENTIALLY TO A PROFITABLE LEVEL IN Q4 OF 2019

Source text for Eikon:  ID:nGNX3g9cd 
Further company coverage:  CVTI.O 

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