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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Covenant Logistics Group
Covenant Logistics Group (CVLG) investor relations material
Covenant Logistics Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Oct, 2026
Executive summary
Adjusted diluted EPS was $0.50, up sequentially and YoY for the first time since Q2 2022; Q4 adjusted EPS is expected to improve modestly sequentially.
~80% of fleet assets were under long-term contracts at quarter-end, as the strategy shifted toward dedicated and other committed capacity.
Financial highlights
Q3 revenue rose 19.2% to $353.9M; freight revenue excluding fuel surcharge increased 17.2% to $315.1M, mainly from acquired brokerage assets.
Adjusted operating income rose 5.7% to $15.8M; adjusted net income increased 14.6% to $13.2M.
Operating income was $12.5M versus $7.9M, and net income was $10.7M versus $9.1M.
Outlook and guidance
Q4 adjusted EPS is expected to improve modestly, with better asset-based margins partly offset by lower TEL income; TEL Q4 pretax income is expected at $3.7M–$4.0M.
Dedicated fleet growth and a stable Expedited fleet with more committed capacity are expected; Dedicated targets a double-digit adjusted operating margin.
Managed Freight targets organic growth and mid-single-digit margins; Warehousing targets a high-single-digit adjusted operating margin.
FY 2026 net capital equipment expenditures are expected at $35M–$40M; management expects double-digit contract-rate increases in 2027.
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Latest events from Covenant Logistics Group
- Diversified logistics strategy, disciplined capital use, and targeted M&A drive profitable growth.CVLG
17th Annual Midwest IDEAS Conference - Q2 2026 revenue up 9.9%, but higher costs limited margin gains despite contract mix shift.CVLGQ2 2026
- Revenue up 14%, earnings down; Managed Freight and Dedicated segments drive growth amid margin pressure.CVLGQ1 2026
- Independent oversight, performance-based pay, and sustainability drive governance and strategy.CVLGProxy filing
- Plans to raise up to $200 million via shelf registration, maintaining strong management control.CVLGRegistration Filing
- Freight revenue rose, margins compressed, and debt increased amid strategic actions and acquisitions.CVLGQ4 2025
- Diversified logistics strategy and niche acquisitions drive resilience amid a historic freight downturn.CVLG17th Annual Southwest IDEAS Conference
- Freight revenue and operating income rose, with Dedicated segment leading and CapEx set to decline.CVLGQ3 2024
- Asset-light segments and warehousing drove margin gains; 2025 outlook is optimistic.CVLGQ4 2024
Next Covenant Logistics Group earnings date
Q4 202629 Jan, 2027
Covenant Logistics Group
Next Covenant Logistics Group earnings date
Q4 202629 Jan, 2027
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Frequently asked questions
Covenant Logistics Group, Inc. operates as a third party logistics service provider primarily in the United States. It offers regional and freight brokerage services; intermodal, truckload, and dedicated transportation; expedited shipping services; and raw materials handling. The company also provides domestic and international air freight forwarding services through FedEx, DHL Worldwide Express, United Parcel Service, and Emery Worldwide. Covenant Logistics Group, Inc. was founded in 1986.