Covenant Logistics Group Inc
covenantlogistics.comWhat Do They Do?
Transports truckload freight and provides brokerage, transportation management, and warehouse services for freight transportation companies, commercial shippers, and government customers.
10-K for FY2025, filed Feb 27, 2026Our asset based transportation services include two separate reportable segments: (i) Expedited and (ii) Dedicated, both of which transport…View ↗
To complement our asset based transportation services, we also offer non-asset based or asset light logistics services through our Managed…View ↗
Lastly, to further our goal of becoming more critical throughout the supply chain, we offer day-to-day warehouse management services…View ↗
We focus on targeted markets throughout the United States where we believe our service standards can provide a competitive advantage. We…View ↗
How Do They Make Money?
Customers pay a set rate per mile for truckload transportation; brokerage and transportation-management charges build as services are provided, while warehouse management is priced by the week. Customer invoices are generally due after services are performed.
10-K for FY2025, filed Feb 27, 2026In our Expedited and Dedicated reportable segments, we generate revenue by transporting freight for our customers. Generally, we are paid a…View ↗
Revenue, drivers' wages, and other direct operating expenses generated by our Expedited and Dedicated reportable segments are recognized…View ↗
Revenue generated by our Managed Freight reportable segment is recognized proportionally as the services are provided based on the…View ↗
We extend credit to our customers in the normal course of business, which are generally due within 30-45 days of the services performed…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service ↗
$1.2B
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10-K for FY2025, filed Feb 27, 2026
$1.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cargo and Freight
Usage-based
10-K for FY2025, filed Feb 27, 2026 |
91%
FY2022: 86%
|
Cargo and Freight, FY2025
$1.1B Sources
|
Usage-based |
|
Fuel Surcharge
|
9.0%
FY2022: 14%
|
Fuel Surcharge, FY2025
$105.2M Sources
|
Who Are Their Customers?
Freight transportation companies, commercial shippers, and U.S. government customers use its truckload and logistics services. Brokerage is offered directly and can use third-party carriers, while dedicated service is provided under customer agreements.
10-K for FY2025, filed Feb 27, 2026We focus on targeted markets throughout the United States where we believe our service standards can provide a competitive advantage. We…View ↗
Within our Managed Freight reportable segment, we derive revenue from providing Brokerage and TMS services, particularly arranging…View ↗
Dedicated: In our Dedicated business, we operate approximately 1,500 tractors, substantially all of which are driven by a solo driver. The…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$33.9M.
10-K for FY2025, filed Feb 27, 2026
$2.9MView ↗
10-K for FY2025, filed Feb 27, 2026
$7.2MView ↗
10-K for FY2025, filed Feb 27, 2026
−$33.9MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 11% in 4 years, from $1B in FY2021 to $1.2B in FY2025, about 3% a year.
Dedicated service offering
Dedicated trucking now also includes shuttle and switching services, moving containers and trailers around freight yards and to and from warehouses for Dedicated customers; the older description covered committed truckload capacity over contracted periods.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 27, 2026Dedicated: In our Dedicated business, we operate approximately 1,400 tractors, substantially all of which are driven by a solo driver. The…View ↗
Dedicated: In our Dedicated business, we operate approximately 1,500 tractors, substantially all of which are driven by a solo driver. The…View ↗
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