COVENANT LOGISTICS GROUP INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
CVLG$32.65+3.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
COVENANT Logistics GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2024 and 2023
(In thousands, except share data)
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $35,619 | $2,294 |
| Accounts receivable, net of allowance of $2,360 in 2024 and $2,449 in 2023 | 141,635 | 142,504 |
| Drivers' advances and other receivables, net of allowance of $593 in 2024 and $591 in 2023 | 3,999 | 4,367 |
| Inventory and supplies | 5,648 | 4,848 |
| Prepaid expenses | 19,975 | 17,880 |
| Assets held for sale | 132 | 6,782 |
| Income taxes receivable | 6,499 | 6,739 |
| Other short-term assets | 343 | 531 |
| Total current assets | 213,850 | 185,945 |
| Property and equipment, at cost | 729,404 | 692,532 |
| Less: accumulated depreciation and amortization | (204,595) | (177,877) |
| Net property and equipment | 524,809 | 514,655 |
| Goodwill | 78,941 | 75,747 |
| Other intangibles, net | 90,126 | 99,615 |
| Other assets | 89,633 | 78,067 |
| Noncurrent assets from discontinued operations | 209 | 409 |
| Total assets | $997,568 | $954,438 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $31,939 | $33,155 |
| Accrued expenses | 51,328 | 59,067 |
| Current maturities of long-term debt | 64,210 | 47,651 |
| Current portion of finance lease obligations | 751 | 781 |
| Current portion of operating lease obligations | 10,349 | 11,950 |
| Current portion of insurance and claims accrual | 22,700 | 17,687 |
| Total current liabilities | 181,277 | 170,291 |
| Long-term debt | 187,085 | 196,894 |
| Long-term portion of finance lease obligations | 3,192 | 5,296 |
| Long-term portion of operating lease obligations | 31,302 | 30,892 |
| Insurance and claims accrual | 19,134 | 15,746 |
| Deferred income taxes | 117,650 | 116,095 |
| Other long-term liabilities | 18,753 | 14,169 |
| Other long-term liabilities of discontinued operations | 835 | 1,635 |
| Total liabilities | 559,228 | 551,018 |
| Commitments and contingencies | - | - |
| Stockholders' equity: | ||
| Class A common stock, $.01 par value; 40,000,000 shares authorized; 21,774,350 shares issued and outstanding as of December 31, 2024; and 40,000,000 authorized; 16,125,786 shares issued and 10,721,517 shares outstanding as of December 31, 2023 | 218 | 161 |
| Class B common stock, $.01 par value; 5,000,000 shares authorized; 4,700,000 shares issued and outstanding as of December 31, 2024; 5,000,000 shares authorized; 2,350,000 shares issued and outstanding as of December 31, 2023 | 47 | 24 |
| Additional paid-in-capital | 158,907 | 155,846 |
| Treasury stock at cost; no and 5,404,269 shares as of December 31, 2024 and December 31, 2023, respectively | - | (132,346) |
| Accumulated other comprehensive income | 1,035 | 816 |
| Retained earnings | 278,133 | 378,919 |
| Total stockholders' equity | 438,340 | 403,420 |
| Total liabilities and stockholders' equity | $997,568 | $954,438 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.