Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - COVENANT LOGISTICS GROUP, INC. | form8k.htm |
Exhibit 99.1
Covenant Logistics Group, Inc. Revised Unaudited Segment Financial and Operating Data
|
For the three months ended,
|
For the three months ended,
|
|||||||||||||||||||||||
|
June 30, 2020
|
March 31, 2020
|
|||||||||||||||||||||||
|
Expedited
|
Dedicated
|
Combined Truckload
|
Expedited
|
Dedicated
|
Combined Truckload
|
|||||||||||||||||||
|
Weighted avg tractors per period
|
1,208
|
1,612
|
2,820
|
1,311
|
1,676
|
2,987
|
||||||||||||||||||
|
Miles per tractor per week
|
2,649
|
1,509
|
1,998
|
2,417
|
1,781
|
2,061
|
||||||||||||||||||
|
Average freight revenue per total mile
|
$
|
1.76
|
$
|
1.91
|
$
|
1.83
|
$
|
1.87
|
$
|
1.80
|
$
|
1.84
|
||||||||||||
|
Average freight revenue per tractor per week
|
$
|
4,670
|
$
|
2,881
|
$
|
3,647
|
$
|
4,517
|
$
|
3,207
|
$
|
3,782
|
||||||||||||
| For the three months ended, | For the three months ended, | |||||||||||||||||||||||
|
December 31, 2019
|
September 30, 2019
|
|||||||||||||||||||||||
|
Expedited
|
Dedicated
|
Combined Truckload
|
Expedited
|
Dedicated
|
Combined Truckload
|
|||||||||||||||||||
|
Weighted avg tractors per period
|
1,282
|
1,734
|
3,015
|
1,259
|
1,813
|
3,072
|
||||||||||||||||||
|
Miles per tractor per week
|
2,432
|
1,746
|
2,037
|
2,430
|
1,746
|
2,026
|
||||||||||||||||||
|
Average freight revenue per total mile
|
$
|
1.97
|
$
|
1.82
|
$
|
1.89
|
$
|
1.92
|
$
|
1.80
|
$
|
1.86
|
||||||||||||
|
Average freight revenue per tractor per week
|
$
|
4,787
|
$
|
3,169
|
$
|
3,857
|
$
|
4,669
|
$
|
3,137
|
$
|
3,765
|
||||||||||||
| For the three months ended, | For the three months ended, | |||||||||||||||||||||||
|
June 30, 2019
|
March 31, 2019
|
|||||||||||||||||||||||
|
Expedited
|
Dedicated
|
Combined Truckload
|
Expedited
|
Dedicated
|
Combined Truckload
|
|||||||||||||||||||
|
Weighted avg tractors per period
|
1,324
|
1,763
|
3,087
|
1,391
|
1,729
|
3,120
|
||||||||||||||||||
|
Miles per tractor per week
|
2,425
|
1,760
|
2,045
|
2,214
|
1,743
|
1,953
|
||||||||||||||||||
|
Average freight revenue per total mile
|
$
|
1.89
|
$
|
1.79
|
$
|
1.84
|
$
|
1.94
|
$
|
1.83
|
$
|
1.89
|
||||||||||||
|
Average freight revenue per tractor per week
|
$
|
4,580
|
$
|
3,156
|
$
|
3,767
|
$
|
4,298
|
$
|
3,188
|
$
|
3,683
|
||||||||||||
| For the three months ended, | For the three months ended, | |||||||||||||||||||||||
|
December 31, 2018
|
September 30, 2018
|
|||||||||||||||||||||||
|
Expedited
|
Dedicated
|
Combined Truckload
|
Expedited
|
Dedicated
|
Combined Truckload
|
|||||||||||||||||||
|
Weighted avg tractors per period
|
1,546
|
1,575
|
3,120
|
1,608
|
1,460
|
3,068
|
||||||||||||||||||
|
Miles per tractor per week
|
2,298
|
1,737
|
2,016
|
2,442
|
1,772
|
2,123
|
||||||||||||||||||
|
Average freight revenue per total mile
|
$
|
2.29
|
$
|
1.93
|
$
|
2.14
|
$
|
2.06
|
$
|
1.82
|
$
|
1.97
|
||||||||||||
|
Average freight revenue per tractor per week
|
$
|
5,271
|
$
|
3,352
|
$
|
4,304
|
$
|
5,036
|
$
|
3,227
|
$
|
4,175
|
||||||||||||
1
|
(in thousands)
|
Quarter ended
|
|||||||||||||||||||||||||||||||
|
6/30/2020
|
3/31/2020
|
12/31/2019
|
9/30/2019
|
6/30/2019
|
3/31/2019
|
12/31/2018
|
9/30/2018
|
|||||||||||||||||||||||||
|
Freight Revenues1:
|
||||||||||||||||||||||||||||||||
|
Expedited
|
$
|
73,330
|
$
|
76,977
|
$
|
80,643
|
$
|
77,609
|
$
|
78,830
|
$
|
77,757
|
$
|
102,516
|
$
|
102,233
|
||||||||||||||||
|
Dedicated
|
60,378
|
69,871
|
72,202
|
74,398
|
72,354
|
71,649
|
73,957
|
66,141
|
||||||||||||||||||||||||
|
Managed Freight
|
34,362
|
30,737
|
42,891
|
33,339
|
29,707
|
32,677
|
54,041
|
33,156
|
||||||||||||||||||||||||
|
Warehousing
|
11,493
|
11,996
|
11,575
|
12,031
|
11,768
|
11,831
|
11,870
|
11,709
|
||||||||||||||||||||||||
|
Total freight revenues
|
$
|
179,564
|
$
|
189,581
|
$
|
207,311
|
$
|
197,377
|
$
|
192,659
|
$
|
193,914
|
$
|
242,385
|
$
|
213,239
|
||||||||||||||||
|
Operating (Loss) Income1:
|
||||||||||||||||||||||||||||||||
|
Expedited
|
$
|
(12,835
|
)
|
$
|
(1,832
|
)
|
$
|
605
|
$
|
(2,638
|
)
|
$
|
1,662
|
$
|
(870
|
)
|
$
|
10,394
|
$
|
9,268
|
||||||||||||
|
Dedicated
|
(13,169
|
)
|
(1,250
|
)
|
(1,517
|
)
|
(2,979
|
)
|
3,519
|
2,145
|
5,944
|
2,692
|
||||||||||||||||||||
|
Managed Freight
|
(3,627
|
)
|
653
|
1,302
|
507
|
369
|
1,144
|
3,647
|
1,552
|
|||||||||||||||||||||||
|
Warehousing
|
681
|
975
|
1,275
|
1,239
|
1,480
|
1,527
|
1,149
|
1,724
|
||||||||||||||||||||||||
|
Total operating (loss) income
|
$
|
(28,950
|
)
|
$
|
(1,454
|
)
|
$
|
1,665
|
$
|
(3,871
|
)
|
$
|
7,030
|
$
|
3,946
|
$
|
21,133
|
$
|
15,237
|
|||||||||||||
|
(1)
|
The results of our former factoring segment, Transport Financial Solutions, the assets of which were sold on July 8, 2020, will be
reflected as discontinued operations and are not included herein.
|
2