Edition:
India

Covenant Transportation Group Reports Q2 Earnings Per Share $0.33


Thursday, 25 Jul 2019 

July 24 (Reuters) - Covenant Transportation Group Inc ::COVENANT TRANSPORTATION GROUP ANNOUNCES SECOND QUARTER FINANCIAL AND OPERATING RESULTS.Q2 EARNINGS PER SHARE $0.33.Q2 REVENUE $219.3 MILLION VERSUS REFINITIV IBES ESTIMATE OF $224.4 MILLION.Q2 EARNINGS PER SHARE ESTIMATE $0.34 -- REFINITIV IBES DATA.Q2 ADJUSTED EARNINGS PER SHARE $0.35.QTRLY FREIGHT REVENUE OF $194.9 MILLION (EXCLUDES REVENUE FROM FUEL SURCHARGES), AN INCREASE OF 14.2%."EXPECT BUSINESS TO REMAIN CONSISTENT THROUGH END OF YEAR".TRUCKLOAD FREIGHT ENVIRONMENT REMAINED MUTED THROUGH MOST OF Q2 CONTRARY TO NORMAL SEASONAL TRENDS.BELIEVE CAPACITY IS BEGINNING TO CONTRACT AND EXPECT CAPACITY REDUCTION TO CONTINUE THROUGHOUT REMAINDER OF 2019.COVENANT TRANSPORTATION - FOR SECOND HALF OF YEAR, FOCUS BE ON FINDING OPPORTUNITIES TO IMPROVE PERFORMANCE OF ONE-WAY TRUCKLOAD SERVICE OFFERINGS. 

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