Covenant Logistics Group (CVLG) Increases Dividend and Net Income by 44.76%

By Tamara Parker • Saturday, May 17 10:11 • Permanent Link

Covenant Logistics Group, Inc. (NYSE: CVLG) has announced a quarterly cash dividend of $0.07 per share of Class A and Class B common stock. The dividend is payable to stockholders of record on June 6, 2025, and is expected to be paid on June 27, 2025.

In terms of financial performance, Covenant's net income for the first quarter of 2025 was $15.2 million, up from $10.5 million in the first quarter of 2024. This represents a significant increase of approximately 44.76% year-over-year.

The company's diluted earnings per share for the first quarter of 2025 were $0.79, compared to $0.55 for the first quarter of 2024. This shows an improvement of around 43.64% year-over-year.

Covenant's total operating revenue for the first quarter of 2025 was $1.12 billion, up from $963.2 million for the first quarter of 2024. This reflects a notable increase of approximately 16.39% year-over-year.

Furthermore, the company's operating income for the first quarter of 2025 stood at $34.8 million, compared to $25.3 million for the first quarter of 2024. This indicates a considerable rise of about 37.55% year-over-year.

The market has reacted to these announcements by moving the company's shares -0.64% to a price of $23.23. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.