Covenant transportation group inc (CVTI)
Income statement / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Revenue

233,135

222,914

219,298

219,181

272,268

243,303

196,318

173,566

203,306

178,631

164,326

158,744

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Freight revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

148,229

144,436

144,679

191,117

153,522

152,146

143,335

172,455

141,917

137,588

126,244

140,406

134,362

135,991

128,174

138,354

132,961

134,220

121,900

127,496

126,482

133,630

124,418

138,964

141,392

Fuel surcharge revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

16,271

14,396

11,662

16,944

19,990

23,305

23,881

35,333

35,664

35,066

34,713

36,081

36,481

36,497

36,557

39,141

35,466

37,081

35,131

34,457

34,936

39,235

31,973

25,848

27,587

Total revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

164,500

158,832

156,341

208,061

173,512

175,451

167,216

206,788

177,581

173,654

160,957

176,487

170,843

172,488

164,731

177,495

168,427

171,301

157,031

161,953

161,418

172,865

156,391

164,812

168,979

Operating expenses:
Salaries, wages, and related expenses

82,620

84,093

75,781

79,503

92,946

86,249

64,633

60,619

63,144

60,732

58,584

59,324

62,859

57,972

55,940

57,755

67,154

60,241

59,131

58,253

65,110

57,636

56,141

52,874

55,344

53,728

54,800

55,074

58,034

53,488

53,396

52,162

52,496

52,458

54,474

51,741

53,235

54,772

Fuel expense

29,448

28,812

29,215

27,832

31,446

33,428

29,209

27,181

26,828

25,998

24,911

25,402

27,119

26,436

25,720

23,833

27,229

30,526

32,511

31,894

40,981

42,784

41,915

43,176

44,268

46,540

46,559

48,635

49,668

48,601

48,217

48,355

49,397

52,324

56,301

50,671

44,547

44,047

Operations and maintenance

14,691

14,742

14,898

15,174

14,723

16,457

12,595

11,730

11,271

13,046

12,044

12,413

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operations and maintenance

-

-

-

-

-

-

-

-

-

-

-

-

-

11,359

11,707

11,162

10,793

12,728

12,140

10,797

11,753

11,934

11,533

12,031

12,583

13,077

12,522

11,861

12,021

12,151

11,256

10,411

11,351

11,623

10,715

10,173

10,879

10,314

Revenue equipment rentals and purchased transportation

58,388

50,428

47,169

48,670

68,121

47,445

37,388

30,691

51,234

36,361

28,987

25,372

37,165

27,831

27,378

25,098

41,870

27,548

25,957

23,208

32,954

25,871

27,612

25,335

27,286

26,207

26,776

22,685

23,191

22,641

22,000

17,178

18,117

15,800

15,459

13,977

18,228

19,245

Operating taxes and licenses

3,306

3,170

3,365

3,183

3,181

3,377

2,613

2,660

2,682

2,364

2,097

2,735

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating taxes and licenses

-

-

-

-

-

-

-

-

-

-

-

-

-

2,815

2,881

2,708

2,854

2,879

2,622

2,661

2,920

2,733

2,562

2,745

2,754

2,780

2,662

2,773

2,745

2,863

3,037

2,398

3,013

3,019

3,014

3,102

2,996

3,081

Insurance and claims

11,966

14,051

10,472

11,235

12,065

12,675

9,908

8,685

8,842

7,681

7,914

8,718

10,611

8,362

6,726

6,897

10,182

6,682

4,276

10,769

10,365

15,545

7,578

6,106

7,657

6,887

7,450

8,311

8,989

8,155

6,133

9,856

8,202

7,801

11,193

8,690

8,667

8,098

Communications and utilities

1,700

1,791

1,760

1,718

1,844

1,810

1,666

1,741

1,857

1,747

1,706

1,628

1,569

1,546

1,465

1,477

1,615

1,527

1,493

1,527

1,485

1,457

1,427

1,437

1,341

1,363

1,252

1,284

1,234

1,201

1,176

1,198

1,242

1,312

1,248

1,335

1,361

1,407

General supplies and expenses

8,734

7,685

7,284

6,731

6,274

6,391

6,423

4,139

3,865

3,729

3,462

3,727

4,220

3,405

3,680

3,108

4,013

2,060

4,252

3,682

4,662

3,950

4,529

3,809

3,820

3,882

4,393

3,907

4,494

3,976

3,846

3,752

4,205

3,572

3,981

3,869

3,935

4,682

Depreciation and amortization, including gains and losses on disposition of property and equipment

18,587

20,073

20,510

19,709

19,353

19,290

17,818

19,695

18,740

17,932

20,659

19,116

20,224

19,328

16,019

16,885

18,015

14,692

14,295

14,382

11,908

10,085

11,301

13,090

12,557

10,497

9,724

10,916

11,971

10,706

11,181

9,364

12,772

11,724

9,246

12,532

12,792

13,291

Total operating expenses

-

224,845

-

-

-

227,122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,539

-

-

0

-

Total operating expenses

-

-

210,454

213,755

-

-

182,253

167,141

-

169,590

160,364

158,435

178,711

159,054

151,516

148,923

183,725

158,883

156,677

157,173

182,138

171,995

164,598

160,603

167,610

164,961

166,138

165,446

172,347

163,782

160,242

154,674

160,795

171,172

165,631

156,090

156,640

158,937

Operating income

3,695

-1,931

8,844

5,426

22,315

16,181

14,065

6,425

14,843

9,041

3,962

309

12,267

5,446

7,316

7,418

24,336

14,629

18,774

10,043

24,650

5,586

9,056

354

8,877

5,882

6,350

-715

5,148

4,645

11,059

2,357

1,158

-9,754

7,234

301

8,172

10,042

Interest expense, net

2,989

2,992

2,683

2,446

2,347

2,460

1,941

1,960

2,042

2,174

1,961

2,081

2,017

1,959

1,955

2,295

-

-

1,717

2,204

2,686

2,635

2,722

2,751

2,764

2,386

2,617

2,633

-

-3,056

-3,355

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-5

-

-

-

-

28

-

-

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

4

4

-

1

2

-

-

-

-

-

64

-44

-10

22

0

0

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,518

-

-4,102

-3,926

4,096

-4,140

4,290

Other expenses, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,041

-1,717

-2,204

-

-2,634

-2,718

-2,747

-2,764

-2,385

-2,615

-2,633

-19,075

3,052

3,350

-11

-

-

-

-

-

-

Other expenses, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,507

-

-41

-15

4,046

60

4,295

Other expenses, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,061

-3,901

-

-4,200

-5

Income from equity method investment

-531

2,138

2,375

3,035

2,325

2,142

1,775

1,490

825

750

800

1,025

550

450

1,150

850

850

1,000

1,335

1,385

1,200

880

850

800

570

1,150

550

480

650

555

425

245

-

350

125

-

0

0

Income before income taxes

175

-2,785

8,536

6,015

22,293

15,863

13,899

5,955

13,626

7,617

2,801

-747

10,800

3,937

6,511

5,973

22,703

13,588

18,392

9,224

23,155

3,832

7,188

-1,593

6,683

4,647

4,285

-2,868

3,023

2,148

8,134

-905

-

-13,465

3,458

-

3,972

5,747

Loss before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,745

-

-

Income tax expense (benefit)

-987

404

2,465

1,582

5,792

4,249

3,928

1,538

-35,672

2,985

1,253

-708

4,818

1,068

2,879

1,621

9,473

5,961

7,391

-1,003

9,610

1,975

3,408

-219

3,344

2,674

2,394

-909

1,571

1,146

3,883

-265

-442

-2,252

1,803

-1,281

2,088

2,858

Net income

1,162

-3,189

6,071

4,433

16,501

11,614

9,971

4,417

49,298

4,632

1,548

-39

5,982

2,869

3,632

4,352

13,230

7,627

11,001

10,227

13,545

1,857

3,780

-1,374

3,339

1,973

1,891

-1,959

1,452

1,002

4,251

-640

-2,245

-11,213

1,655

-2,464

1,884

2,889

Income per share:
Basic and diluted income per share (in dollars per share)

-

-

0.33

0.24

-

-

0.54

0.24

-

-

0.08

0.00

-

-

0.20

0.24

-

-

-

0.56

-

-

-

-0.09

-

-

-

-0.13

-

-

-

-0.04

-

-0.76

0.11

-

0.13

0.20

Basic income per share (in dollars per share)

-

-0.17

-

-

-

0.63

-

-

-

0.25

-

-

-

0.16

-

-

-

0.42

0.60

-

-

0.12

0.25

-

-

0.13

0.13

-

-

0.07

0.29

-

-

-

-

-

-

-

Diluted income per share (in dollars per share)

-

-0.17

-

-

-

0.63

-

-

-

0.25

-

-

-

0.16

-

-

-

0.42

0.60

-

-

0.12

0.25

-

-

0.13

0.13

-

-

0.07

0.29

-

-0.15

-0.76

0.11

-0.17

-

-

Basic weighted average shares outstanding (in shares)

18,463

18,458

18,438

18,381

18,349

18,343

18,337

18,331

18,291

18,288

18,281

18,256

18,198

18,194

18,189

18,147

18,055

18,119

18,261

18,145

16,196

14,959

14,930

14,915

-

14,864

14,852

-

-

14,757

14,732

-

-

14,719

14,702

-

14,499

14,257

Diluted weighted average shares outstanding (in shares)

18,682

18,719

18,606

18,533

18,532

18,497

18,441

18,406

18,469

18,404

18,359

18,256

18,230

18,287

18,275

18,272

18,204

18,320

18,413

18,307

16,829

15,145

15,179

14,915

-

15,043

15,052

-

-

14,807

14,787

-

14,527

14,719

14,833

14,677

14,609

14,361

Basic and diluted weighted average shares outstanding (in Shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,762

-

-

-

14,722

-

-

-

-

-

-

Cargo and Freight [Member]
Revenue

209,891

199,832

194,917

195,761

244,008

214,623

170,635

150,463

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fuel Surcharge [Member]
Revenue

23,244

23,082

24,381

23,420

28,260

28,680

25,683

23,103

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-