Recent Insider Transactions • Jun 02
Executive VP & Director recently sold €431k worth of stock On the 27th of May, Joey Hogan sold around 13k shares on-market at roughly €33.69 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €436k. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. Executive VP & Director Joey Hogan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 25
First quarter dividend of US$0.07 announced Shareholders will receive a dividend of US$0.07. Ex-date: 5th June 2026 Payment date: 26th June 2026 Dividend yield will be 0.8%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is not covered by earnings (312% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% per year over the past 4 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 247% to bring the payout ratio under control. However, EPS has declined by 12% over the last 5 years so the company would need to reverse this trend. Aankondiging • May 16
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on June 26, 2026 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on June 5, 2026, and is expected to be paid on June 26, 2026. Aankondiging • Apr 13
Covenant Logistics Group, Inc., Annual General Meeting, May 13, 2026 Covenant Logistics Group, Inc., Annual General Meeting, May 13, 2026. Location: 400 birmingham highway, tennessee 37419, chattanooga, United States Aankondiging • Apr 02
Covenant Logistics Group, Inc. to Report Q1, 2026 Results on Apr 23, 2026 Covenant Logistics Group, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 23, 2026 Aankondiging • Feb 11
Covenant Logistics Group Announces Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on March 27, 2026 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 6, 2026, and is expected to be paid on March 27, 2026. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company’s board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarter. Aankondiging • Jan 30
Covenant Logistics Group, Inc. Reports Goodwill Impairment Charges for the Fourth Quarter Ended December 31, 2025 Covenant Logistics Group, Inc. reported goodwill impairment charges for the fourth quarter ended December 31, 2025. For the quarter, the company reported impairment of goodwill of $10,698,000. Aankondiging • Jan 06
Covenant Logistics Group, Inc. to Report Q4, 2025 Results on Jan 29, 2026 Covenant Logistics Group, Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Jan 29, 2026 Aankondiging • Nov 22
Covenant Logistics Group, Inc. Declares Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on December 26, 2025 Covenant Logistics Group, Inc. announced on November 21, 2025 that its board of directors has declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on December 5, 2025, and is expected to be paid on December 26, 2025. Aankondiging • Oct 02
Covenant Logistics Group, Inc. to Report Q3, 2025 Results on Oct 22, 2025 Covenant Logistics Group, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 22, 2025 Aankondiging • Jul 02
Covenant Logistics Group, Inc. to Report Q2, 2025 Results on Jul 23, 2025 Covenant Logistics Group, Inc. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Jul 23, 2025 Aankondiging • May 17
Covenant Logistics Group Announces Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on June 27, 2025 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on June 6, 2025, and is expected to be paid on June 27, 2025. Aankondiging • Apr 24
Covenant Logistics Group, Inc. (NYSE:CVLG) announces an Equity Buyback for $50 million worth of its shares. Covenant Logistics Group, Inc. (NYSE:CVLG) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its class A common stock. The repurchase program does not have any time limits. Aankondiging • Apr 03
Covenant Logistics Group, Inc., Annual General Meeting, May 14, 2025 Covenant Logistics Group, Inc., Annual General Meeting, May 14, 2025. Location: 400 birmingham highway, tennessee 37419, chattanooga, United States Aankondiging • Apr 02
Covenant Logistics Group, Inc. to Report Q1, 2025 Results on Apr 23, 2025 Covenant Logistics Group, Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on Apr 23, 2025 Aankondiging • Feb 17
Covenant Logistics Group, Inc. Declares Quarterly Cash Dividend, Payable on March 28, 2025 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 7, 2025, and is expected to be paid on March 28, 2025. Aankondiging • Jan 03
Covenant Logistics Group, Inc. to Report Q4, 2024 Results on Jan 23, 2025 Covenant Logistics Group, Inc. announced that they will report Q4, 2024 results at 4:00 PM, Eastern Standard Time on Jan 23, 2025 Aankondiging • Jan 01
Covenant Logistics Group, Inc. Announces Retirement of Samuel F. Hough as Executive Vice President – Expedited Operations Covenant Logistics Group, Inc. announced that on December 27, 2024, Samuel F. Hough notified the board of directors of his decision to retire from his position as Executive Vice President – Expedited Operations, which won’t be effective until December 31, 2024. Mr. Hough is expected to continue to be employed by the Company in a reduced capacity following his retirement, focusing on customer development and retention. In association with his retirement, the Compensation Committee of the Board changed Mr. Hough’s annualized base to $220,000.00, effective January 1, 2025. Aankondiging • Nov 26
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend, Payable on December 27, 2024 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on December 6, 2024, and is expected to be paid on December 27, 2024. Recent Insider Transactions • Nov 16
Independent Director recently sold €564k worth of stock On the 12th of November, Bradley Moline sold around 10k shares on-market at roughly €56.45 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €56.50, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Transportation industry in Europe. Total returns to shareholders of 117% over the past three years. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$0.98 (vs US$1.03 in 3Q 2023) Third quarter 2024 results: EPS: US$0.98 (down from US$1.03 in 3Q 2023). Revenue: US$287.9m (flat on 3Q 2023). Net income: US$12.9m (down 3.5% from 3Q 2023). Profit margin: 4.5% (down from 4.6% in 3Q 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Aankondiging • Oct 03
Covenant Logistics Group, Inc. to Report Q3, 2024 Results on Oct 23, 2024 Covenant Logistics Group, Inc. announced that they will report Q3, 2024 results After-Market on Oct 23, 2024 Declared Dividend • Aug 26
Second quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 6th September 2024 Payment date: 27th September 2024 Dividend yield will be 0.9%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (14% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 21% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 33% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 20
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend, Payable on September 27, 2024 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on September 6, 2024, and is expected to be paid on September 27, 2024. Aankondiging • Aug 07
Covenant Logistics Group, Inc.(NYSE:CVLG) dropped from NASDAQ Composite Index Covenant Logistics Group, Inc. has been removed from NASDAQ Composite Index . Aankondiging • Aug 06
Covenant Logistics Group, Inc.(NYSE:CVLG) dropped from NASDAQ Transportation Index Covenant Logistics Group, Inc. has been removed from NASDAQ Transportation Index . Recent Insider Transactions • Aug 01
Independent Director recently sold €1.1m worth of stock On the 29th of July, Herbert Schmidt sold around 21k shares on-market at roughly €51.04 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €11m more than they bought in the last 12 months. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$0.92 (vs US$0.94 in 2Q 2023) Second quarter 2024 results: EPS: US$0.92 (down from US$0.94 in 2Q 2023). Revenue: US$287.5m (up 4.9% from 2Q 2023). Net income: US$12.0m (flat on 2Q 2023). Profit margin: 4.2% (down from 4.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 02
Covenant Logistics Group, Inc. to Report Q2, 2024 Results on Jul 24, 2024 Covenant Logistics Group, Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Jul 24, 2024 Declared Dividend • May 22
First quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 7th June 2024 Payment date: 28th June 2024 Dividend yield will be 1.0%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (14% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 33% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 30% over the next year, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • May 19
Independent Director recently sold €161k worth of stock On the 14th of May, David Kramer sold around 4k shares on-market at roughly €43.11 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €5.6m. Insiders have been net sellers, collectively disposing of €10m more than they bought in the last 12 months. Aankondiging • May 18
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend, Payable on June 28, 2024 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on June 7, 2024, and is expected to be paid on June 28, 2024. Aankondiging • Apr 30
Covenant Logistics Group, Inc. Announces Appointment of Dustin Koehl as Chief Operating Officer Covenant Logistics Group, Inc. announced Dustin Koehl has been appointed as the Company’s Chief Operating Officer, effective May 13, 2024. Mr. Koehl has over 17 years of transportation experience, including senior leadership positions in operations and sales. Dustin Koehl, 40, joined the Company as Chief Operating Officer in May 2024. Mr. Koehl previously served as the Head of Commercialization at Waabi, an AI-centered self-driving truck developer, where he was responsible for customer adoption, transportation strategy, and safety. An active member of the transportation industry, Mr. Koehl is a partner with the Massachusetts Institute of Technology’s FreightLab and has served on several industry committees, including positions at the American Trucking Associations and the American Transportation Research Institute. Mr. Koehl has over 17 years of experience in transportation, including 12 years at Total Transportation of Mississippi, including as Vice President – Sales and Operations. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.29 (vs US$1.23 in 1Q 2023) First quarter 2024 results: EPS: US$0.29 (down from US$1.23 in 1Q 2023). Revenue: US$278.8m (up 4.5% from 1Q 2023). Net income: US$3.82m (down 77% from 1Q 2023). Profit margin: 1.4% (down from 6.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 13
Covenant Logistics Group, Inc., Annual General Meeting, May 15, 2024 Covenant Logistics Group, Inc., Annual General Meeting, May 15, 2024, at 10:00 US Eastern Standard Time. Location: Covenant Logistics Group, Inc., 400 Birmingham Highway, Chattanooga Tennessee United States Agenda: To consider and act upon a proposal to elect nine (9) directors; to consider and act upon an advisory and non-binding vote on executive compensation; to ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for 2024; and to consider and act upon such other matters as may properly come before the meeting and any adjournment thereof. Aankondiging • Apr 05
Covenant Logistics Group, Inc. Announces Retirement of Lynn Doster as Executive Vice President, Effective December 31, 2024 On March 31, 2024, Lynn Doster notified the board of directors of Covenant Logistics Group, Inc. of her decision to retire from her position as Executive Vice President – Dedicated and Warehousing Operations, which won’t be effective until December 31, 2024. It is expected that Ms. Doster will provide services to the Company following her retirement to ensure a smooth transition. Aankondiging • Apr 02
Covenant Logistics Group, Inc. to Report Q1, 2024 Results on Apr 24, 2024 Covenant Logistics Group, Inc. announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 24, 2024 Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$4.19 (vs US$7.19 in FY 2022) Full year 2023 results: EPS: US$4.19 (down from US$7.19 in FY 2022). Revenue: US$1.10b (down 9.3% from FY 2022). Net income: US$54.6m (down 49% from FY 2022). Profit margin: 5.0% (down from 8.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. New Risk • Mar 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks High level of debt (60% net debt to equity). Profit margins are more than 30% lower than last year (5.0% net profit margin). Significant insider selling over the past 3 months (€8.9m sold). Declared Dividend • Feb 26
Fourth quarter dividend of US$0.11 announced Shareholders will receive a dividend of US$0.11. Ex-date: 29th February 2024 Payment date: 29th March 2024 Dividend yield will be 0.9%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 33% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Feb 25
Chairman of the Board & CEO recently sold €2.2m worth of stock On the 21st of February, David Parker sold around 45k shares on-market at roughly €48.22 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Recent Insider Transactions • Feb 18
Insider recently sold €179k worth of stock On the 14th of February, Lynn Doster sold around 4k shares on-market at roughly €49.70 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €464k. Insiders have been net sellers, collectively disposing of €942k more than they bought in the last 12 months. Aankondiging • Feb 16
Covenant Logistics Group Announces Quarterly Cash Dividend, Payable on March 29, 2024 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on March 1, 2024, and is expected to be paid on March 29, 2024. The quarterly cash dividend is pursuant to a cash dividend program previously approved by the Company’s board of directors. The actual declaration of future cash dividends, and the establishment of record and payment dates is subject to final determination by the board of directors each quarter. Recent Insider Transactions • Jan 31
Executive VP & Director recently sold €464k worth of stock On the 26th of January, Joey Hogan sold around 10k shares on-market at roughly €46.36 per share. This transaction amounted to 9.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €763k more than they bought in the last 12 months. Reported Earnings • Jan 24
Full year 2023 earnings released: EPS: US$4.19 (vs US$7.19 in FY 2022) Full year 2023 results: EPS: US$4.19 (down from US$7.19 in FY 2022). Revenue: US$1.10b (down 9.3% from FY 2022). Net income: US$54.6m (down 49% from FY 2022). Profit margin: 5.0% (down from 8.9% in FY 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 12
Covenant Logistics Group, Inc. Announces Executive Changes On January 5, 2024, the board of directors of Covenant Logistics Group, Inc. promoted Matisse Long to Chief Accounting Officer. The Board also designated Mr. Long as the company's principal accounting officer. James S. Grant, the company's Executive Vice President and Chief Financial Officer will continue to serve as principal financial officer but will no longer serve as principal accounting officer. Matisse Long, 48, was named Company's Chief Accounting officer on January 5, 2024. Mr. Long previously served as the Company's Corporate Controller since June 2021. Mr. Long was a co-founder and director of Advisory Information Technology, LLC (AdIT"), a division of Mauldin & Jenkins, LLC. At AdIT, Mr. Long oversaw many of the division's advisory, accounting, and informational technology responsibilities. Mr. Long is a Certified Public Accountant with over 23 years of experience in private and public accounting, with extensive experience in transportation. Mr. Long was previously the practice leader of Windham Brannon, PC's advisory services practice. Aankondiging • Nov 17
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend, Payable on December 29, 2023 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on December 1, 2023, and is expected to be paid on December 29, 2023. New Risk • Nov 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks High level of debt (45% net debt to equity). Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$1.03 (vs US$3.47 in 3Q 2022) Third quarter 2023 results: EPS: US$1.03 (down from US$3.47 in 3Q 2022). Revenue: US$288.7m (down 7.4% from 3Q 2022). Net income: US$13.4m (down 73% from 3Q 2022). Profit margin: 4.6% (down from 16% in 3Q 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. New Risk • Oct 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risk High level of debt (48% net debt to equity). Aankondiging • Oct 05
Covenant Logistics Group, Inc. to Report Q3, 2023 Results on Oct 25, 2023 Covenant Logistics Group, Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Oct 25, 2023 Aankondiging • Aug 22
Covenant Logistics Group, Inc. Declares Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on September 29, 2023 Covenant Logistics Group, Inc. declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on September 1, 2023, and is expected to be paid on September 29, 2023. New Risk • Aug 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks High level of debt (48% net debt to equity). Significant insider selling over the past 3 months (€269k sold). Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €50.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Transportation industry in Europe. Total returns to shareholders of 254% over the past three years. Buying Opportunity • Aug 01
Now 22% undervalued Over the last 90 days, the stock is up 32%. The fair value is estimated to be €63.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.1% in a year. Earnings is forecast to decline by 14% in the next year. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$0.94 (vs US$1.58 in 2Q 2022) Second quarter 2023 results: EPS: US$0.94 (down from US$1.58 in 2Q 2022). Revenue: US$274.0m (down 14% from 2Q 2022). Net income: US$12.1m (down 51% from 2Q 2022). Profit margin: 4.4% (down from 7.7% in 2Q 2022). Revenue is forecast to stay flat during the next 2 years compared to a 12% growth forecast for the Transportation industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 04
Covenant Logistics Group, Inc. to Report Q2, 2023 Results on Jul 26, 2023 Covenant Logistics Group, Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Jul 26, 2023 Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive VP & Director Joey Hogan was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 26
Executive VP & Director recently sold €269k worth of stock On the 23rd of May, Joey Hogan sold around 7k shares on-market at roughly €36.66 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.5m more than they bought in the last 12 months. Aankondiging • May 23
Covenant Logistics Group, Inc. Declares Quarterly Cash Dividend on its Class A and Class B Common Stock, Payable on June 30, 2023 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on June 2, 2023 and is expected to be paid on June 30, 2023. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €37.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Transportation industry in Europe. Total returns to shareholders of 383% over the past three years. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: US$1.23 (vs US$1.34 in 1Q 2022) First quarter 2023 results: EPS: US$1.23 (down from US$1.34 in 1Q 2022). Revenue: US$266.9m (down 8.5% from 1Q 2022). Net income: US$16.5m (down 26% from 1Q 2022). Profit margin: 6.2% (down from 7.6% in 1Q 2022). Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Transportation industry in Europe are expected to grow by 9.3%. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: US$7.19 (vs US$3.46 in FY 2021) Full year 2022 results: EPS: US$7.19 (up from US$3.46 in FY 2021). Revenue: US$1.22b (up 16% from FY 2021). Net income: US$107.9m (up 86% from FY 2021). Profit margin: 8.9% (up from 5.6% in FY 2021). Revenue is expected to decline by 6.0% p.a. on average during the next 2 years, while revenues in the Transportation industry in Europe are expected to grow by 9.4%. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 17
Covenant Logistics Group Announces Increase to Quarterly Cash Dividend, Payable on March 31, 2023 Covenant Logistics Group, Inc. announced that, in connection with continued monitoring of the productivity of the Company’s assets and allocation of cash, its board of directors has declared a quarterly cash dividend of $0.11 per share of Class A and Class B common stock, an increase to the $0.08 per share from the most recent quarter. The quarterly cash dividend is payable to stockholders of record on March 3, 2023 and is expected to be paid on March 31, 2023. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €32.40, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Transportation industry in Europe. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €58.42 per share. Reported Earnings • Jan 26
Full year 2022 earnings released: EPS: US$7.19 (vs US$3.46 in FY 2021) Full year 2022 results: EPS: US$7.19 (up from US$3.46 in FY 2021). Revenue: US$1.22b (up 16% from FY 2021). Net income: US$107.9m (up 86% from FY 2021). Profit margin: 8.9% (up from 5.6% in FY 2021). Revenue is expected to decline by 8.1% p.a. on average during the next 2 years, while revenues in the Transportation industry in Europe are expected to grow by 9.2%. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 04
Covenant Logistics Group, Inc. to Report Q4, 2022 Results on Jan 25, 2023 Covenant Logistics Group, Inc. announced that they will report Q4, 2022 results at 4:00 PM, Eastern Standard Time on Jan 25, 2023 Upcoming Dividend • Nov 24
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 01 December 2022. Payment date: 30 December 2022. Payout ratio is a comfortable 2.8% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (5.3%). Aankondiging • Nov 17
Covenant Logistics Group, Inc. Announces Quarterly Cash Dividend, Payable on December 30, 2022 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.08 per share of Class A and Class B common stock. The quarterly cash dividend is payable to stockholders of record on December 2, 2022 and is expected to be paid on December 30, 2022. Recent Insider Transactions • Oct 29
Independent Director recently sold €720k worth of stock On the 26th of October, Bradley Moline sold around 20k shares on-market at roughly €35.99 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €1.1m. Insiders have been net sellers, collectively disposing of €3.2m more than they bought in the last 12 months. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: US$3.47 (vs US$0.98 in 3Q 2021) Third quarter 2022 results: EPS: US$3.47 (up from US$0.98 in 3Q 2021). Revenue: US$311.8m (up 14% from 3Q 2021). Net income: US$50.0m (up 204% from 3Q 2021). Profit margin: 16% (up from 6.0% in 3Q 2021). Revenue is expected to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Transportation industry in Europe are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 04
Covenant Logistics Group, Inc. to Report Q3, 2022 Results on Oct 20, 2022 Covenant Logistics Group, Inc. announced that they will report Q3, 2022 results at 4:00 PM, Eastern Standard Time on Oct 20, 2022 Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €28.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Transportation industry in Europe. Total returns to shareholders of 104% over the past three years. Recent Insider Transactions • Aug 26
Independent Director recently sold €1.1m worth of stock On the 24th of August, Robert Bosworth sold around 33k shares on-market at roughly €32.66 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.4m. Insiders have been net sellers, collectively disposing of €2.5m more than they bought in the last 12 months. Upcoming Dividend • Aug 25
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 2.5% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.2%). Aankondiging • Aug 18
Covenant Logistics Group, Inc. Declares Quarterly Cash Dividend on Class A and Class B Common Stock, Payable on September 30, 2022 Covenant Logistics Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.08 per share of Class A and Class B common stock. The dividend is payable to stockholders of record on September 2, 2022 and is expected to be paid on September 30, 2022. Recent Insider Transactions • Aug 02
Insider recently sold €1.4m worth of stock On the 28th of July, Samuel Hough sold around 43k shares on-market at roughly €32.48 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.4m more than they bought in the last 12 months. Reported Earnings • Jul 26
Second quarter 2022 earnings released: EPS: US$1.58 (vs US$0.92 in 2Q 2021) Second quarter 2022 results: EPS: US$1.58 (up from US$0.92 in 2Q 2021). Revenue: US$317.4m (up 24% from 2Q 2021). Net income: US$24.5m (up 59% from 2Q 2021). Profit margin: 7.7% (up from 6.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 3.1% compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 02
Covenant Logistics Group, Inc. to Report Q2, 2022 Results on Jul 25, 2022 Covenant Logistics Group, Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 25, 2022 Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 18% share price gain to €23.80, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Transportation industry in Europe. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €35.45 per share. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: US$1.34 (vs US$0.51 in 1Q 2021) First quarter 2022 results: EPS: US$1.34 (up from US$0.51 in 1Q 2021). Revenue: US$291.6m (up 32% from 1Q 2021). Net income: US$22.2m (up 158% from 1Q 2021). Profit margin: 7.6% (up from 3.9% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.1% compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 20
Covenant Logistics Group, Inc., Annual General Meeting, May 18, 2022 Covenant Logistics Group, Inc., Annual General Meeting, May 18, 2022, at 10:00 Eastern Daylight. Agenda: To consider and act upon a proposal to elect eight (8) directors; to consider and act upon an advisory and non-binding vote on executive compensation; to ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for 2022; and to consider and act upon such other matters as may properly come before the meeting and any adjournment thereof. Aankondiging • Apr 06
Covenant Logistics Group, Inc. to Report Q1, 2022 Results on Apr 27, 2022 Covenant Logistics Group, Inc. announced that they will report Q1, 2022 results at 4:00 PM, US Eastern Standard Time on Apr 27, 2022 Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$3.46 (up from US$0.81 loss in FY 2020). Revenue: US$1.05b (up 25% from FY 2020). Net income: US$58.2m (up US$72.3m from FY 2020). Profit margin: 5.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 11%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$3.48 (up from US$0.81 loss in FY 2020). Revenue: US$1.05b (up 25% from FY 2020). Net income: US$58.2m (up US$72.3m from FY 2020). Profit margin: 5.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 1.5%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €19.10, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Transportation industry in Europe. Total returns to shareholders of 3.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €21.46 per share. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €24.20, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Transportation industry in Europe. Total returns to shareholders of 7.7% over the past three years.