Brief: Covenant Transportation Sees Q2 Adj EPS $0.34-$0.35

Covenant Logistics

17/07/2019 19:20

July 17 (Reuters) - Covenant Transportation Group Inc
 CVTI.O :
    * COVENANT TRANSPORTATION GROUP ANNOUNCES UPDATED
EXPECTATIONS
CONCERNING SECOND QUARTER FINANCIAL RESULTS
    * CONTRARY TO NORMAL SEASONAL PATTERNS, TRUCKLOAD FREIGHT
ENVIRONMENT REMAINED SLUGGISH THROUGH MOST OF Q2
    * EXPECT TO REPORT Q2 EARNINGS PER DILUTED SHARE ("EPS") IN
RANGE
OF $0.32 TO $0.33
    * FOR Q2 OF 2019, CONSOLIDATED FREIGHT REVENUE IS EXPECTED
TO
INCREASE APPROXIMATELY 14% COMPARED WITH Q2 OF 2018
    * SEES Q2 ADJUSTED EARNINGS PER DILUTED SHARE IN RANGE OF
$0.34 TO
$0.35
    * CONTRARY TO NORMAL SEASONAL PATTERNS, TRUCKLOAD FREIGHT
ENVIRONMENT REMAINED SLUGGISH THROUGH MOST OF Q2
    * Q2 EARNINGS PER SHARE VIEW $0.47 -- REFINITIV IBES DATA
    * EXPECT CAPACITY REDUCTION TO CONTINUE THROUGHOUT REMAINDER
OF
2019

Source text for Eikon:  ID:nGNX7b75m4 
Further company coverage:  CVTI.O 

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