Covenant Logistics Group, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 6, 2026, reporting third-quarter total revenue of $353.9 million and net income of $10.7 million from continuing operations.

Key Highlights

  • Total revenue of $353.9 million for the three months ended September 30, 2026, compared to $296.9 million in the same period of 2025, according to the filing.
  • Net income of $10.7 million from continuing operations for Q3 2026, up from $6.3 million in Q3 2025, as reported in the condensed consolidated statements of operations.
  • Diluted earnings per share of $0.40 from continuing operations for the three months ended September 30, 2026, versus $0.24 in the prior-year quarter.
  • Nine-month total revenue of $993.9 million for the period ended September 30, 2026, compared to $869.1 million in the same nine-month period of 2025.
  • Total assets of $1.023 billion as of September 30, 2026, with total stockholders' equity of $422.3 million, per the condensed consolidated balance sheet.
  • Revenue equipment rentals and purchased transportation reached $113.4 million in Q3 2026, up from $72.9 million in Q3 2025, the filing disclosed.
  • Class A common stock outstanding: 20,699,778 shares as of November 4, 2026, as indicated on the filing's cover page.

Covenant Logistics Group Q3 2026 Financial Results and Balance Sheet Position

Covenant Logistics Group, Inc. (NYSE:CVLG), based in Chattanooga, Tennessee, reported third-quarter 2026 results in its Form 10-Q covering the period ended September 30, 2026. According to the filing, total revenue for the three months ended September 30, 2026 was $353.9 million, consisting of freight revenue of $315.1 million and fuel surcharge revenue of $38.8 million. This compares to total revenue of $296.9 million in the year-ago quarter, which included freight revenue of $268.8 million and fuel surcharge revenue of $28.0 million.

The filing reported operating income of $12.5 million for Q3 2026, up from $7.9 million in Q3 2025. Income from the company's equity method investment contributed $5.7 million for the quarter, compared to $3.6 million in the prior-year period. After interest expense of $3.9 million and income tax expense of $3.6 million, income from continuing operations was $10.7 million, or $0.40 diluted earnings per share. For the nine months ended September 30, 2026, net income from continuing operations was $23.7 million, with diluted earnings per share of $0.89, the filing stated.

As of September 30, 2026, the company reported total assets of $1.023 billion and total liabilities of $601.4 million, leaving total stockholders' equity of $422.3 million. Net property and equipment stood at $463.4 million. Long-term debt, excluding current maturities, was $216.5 million, and the company held cash and cash equivalents of $3.7 million, according to the condensed consolidated balance sheet. Treasury stock stood at $29.4 million, reflecting 1,156,100 shares held at cost as of September 30, 2026.

What Was Disclosed

Covenant Logistics Group filed its quarterly report covering the three and nine months ended September 30, 2026, disclosing revenue, earnings, balance sheet data, and share counts. The company reported higher revenue and operating income compared to the year-ago quarter, with no income from discontinued operations in 2026.