Covenant Logistics Gr Q2 Adj $1.04 Beats $0.98 Estimate, Sales $287.50M Miss $292.63M Estimate
Portfolio Pulse from Benzinga Newsdesk
Covenant Logistics Group (NASDAQ:CVLG) reported Q2 earnings of $1.04 per share, beating the analyst estimate of $0.98. However, sales of $287.50 million missed the estimate of $292.63 million. Earnings decreased by 2.8% year-over-year, while sales increased by 4.92%.
July 24, 2024 | 8:06 pm
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Covenant Logistics Group reported Q2 earnings of $1.04 per share, beating estimates by 6.12%, but sales of $287.50 million missed estimates by 1.75%. Earnings decreased by 2.8% YoY, while sales increased by 4.92%.
The mixed results, with earnings beating but sales missing estimates, create a neutral short-term impact. The earnings beat is positive, but the sales miss and YoY earnings decline offset this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100