Brief: Covenant Transportation Sees Q3 Loss Per Share Of $0.17 To $0.18

Covenant Logistics

17/10/2019 21:32

Oct 17 (Reuters) - Covenant Transportation Group Inc
 CVTI.O :
    * COVENANT TRANSPORTATION GROUP ANNOUNCES UPDATED
EXPECTATIONS
CONCERNING THIRD QUARTER FINANCIAL RESULTS
    * SEES Q3 LOSS PER SHARE OF $0.17 TO $0.18
    * SEES Q3 ADJUSTED LOSS PER SHARE $0.08 TO $0.09
    * Q3 EARNINGS PER SHARE VIEW $0.21 -- REFINITIV IBES DATA
    * FREIGHT MARKET REMAINED RELATIVELY CONSTANT BETWEEN Q2 AND
Q3
    * MAIN INCOME DIFFERENCES BETWEEN Q2 AND Q3 RELATE TO HIGHER
NON-DRIVER WAGE EXPENSE
    * COVENANT TRANSPORTATION GROUP - MAIN INCOME DIFFERENCES
BETWEEN
Q2 AND Q3 RELATE TO UNFAVORABLE CASUALTY, WORKERS' COMPENSATION
    * COVENANT TRANSPORTATION GROUP - MAIN INCOME DIFFERENCES
BETWEEN
Q2 AND Q3 RELATE TO GROUP HEALTH INSURANCE EXPENSE
    * Q3 REFLECTED NEGATIVE ENVIRONMENT IN WHICH AVAILABLE
TRUCKING
CAPACITY CONTINUES TO EXCEED FREIGHT DEMAND

Source text for Eikon:  ID:nGNX32zt8C 
Further company coverage:  CVTI.O 

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