COVENANT LOGISTICS GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
CVLG$32.65+3.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
YEARS ENDED DECEMBER 31, **2025, 2024, and 2023
(In thousands, except per share data)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenues | |||
| Freight revenue | $1,059,235 | $1,013,941 | $970,509 |
| Fuel surcharge revenue | 105,237 | 117,535 | 133,064 |
| Total revenue | $1,164,472 | $1,131,476 | $1,103,573 |
| Operating expenses: | |||
| Salaries, wages, and related expenses | 433,238 | 423,319 | 400,491 |
| Fuel expense | 112,292 | 115,981 | 133,291 |
| Operations and maintenance | 69,573 | 61,696 | 63,753 |
| Revenue equipment rentals and purchased transportation | 286,711 | 254,302 | 271,893 |
| Operating taxes and licenses | 13,776 | 11,954 | 13,409 |
| Insurance and claims | 70,125 | 59,845 | 50,099 |
| Communications and utilities | 6,379 | 5,407 | 5,012 |
| General supplies and expenses | 59,185 | 66,053 | 49,444 |
| Depreciation and amortization | 92,726 | 86,529 | 69,943 |
| Write-down of held-for-sale assets | 6,495 | - | - |
| Loss (gain) on disposition of property and equipment, net | 337 | 1,630 | (12,585) |
| Impairment of goodwill | 10,698 | - | - |
| Total operating expenses | 1,161,535 | 1,086,716 | 1,044,750 |
| Operating income | 2,937 | 44,760 | 58,823 |
| Interest expense, net | 12,055 | 13,576 | 7,967 |
| Income from equity method investment | (14,709) | (14,713) | (21,384) |
| Income before income taxes | 5,591 | 45,897 | 72,240 |
| Income tax expense | 1,181 | 10,576 | 17,611 |
| Income from continuing operations | 4,410 | 35,321 | 54,629 |
| Income from discontinued operations, net of tax | 2,829 | 600 | 600 |
| Net income | $7,239 | $35,921 | $55,229 |
| Basic income per share: | |||
| Income from continuing operations | $0.17 | $1.35 | $2.09 |
| Income from discontinued operations | $0.11 | $0.02 | $0.02 |
| Net income per basic share(1) | $0.28 | $1.37 | $2.12 |
| Diluted income per share: | |||
| Income from continuing operations | $0.16 | $1.28 | $1.97 |
| Income from discontinued operations | $0.11 | $0.02 | $0.02 |
| Net income per diluted share | $0.27 | $1.30 | $2.00 |
| Basic weighted average shares outstanding | 25,648 | 26,307 | 26,096 |
| Diluted weighted average shares outstanding | 26,909 | 27,714 | 27,668 |
| (1) | Total may not sum due to rounding. |
The accompanying notes are an integral part of these consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.