Covenant Logistics Group, Inc. (NYSE:CVLG) Q2 2025 Earnings Call July 24, 2025 10:00 AM ET
Company Participants
David Ray Parker – Chairman of the Board & CEO
James S. Grant – Executive VP & CFO
M. Paul Bunn – President
Conference Call Participants
Daniel Robert Imbro – Stephens Inc., Research Division
David Floyd – Unidentified Company
Elliot Andrew Alper – TD Cowen, Research Division
Jeffrey Asher Kauffman – Vertical Research Partners, LLC
Scott H. Group – Wolfe Research, LLC
Operator
Welcome to today’s Covenant Logistics Group Q2 2025 Earnings Release and Investor Conference Call. Our host for today’s call is Tripp Grant. [Operator Instructions]
I would now like to turn the call over to your host. Mr. Grant, you may begin.
James S. Grant
Good morning, everyone, and welcome to the Covenant Logistics Group’s Second Quarter 2025 Conference Call. As a reminder, this call will contain forward-looking statements under the Private Securities Litigation Reform Act, which are subject to risks and uncertainties that could cause actual results to differ materially. Please review our SEC filings and most recent risk factors. We undertake no obligation to publicly update or revise any forward-looking statements. Our prepared comments and additional financial information are available on our website at www.covenantlogistics.com/investors.
Joining me today are CEO, David Parker; President, Paul Bunn; and COO, Dustin Koehl. Revenue rebounded during the second quarter to a new record high, thanks to growing our dedicated fleet, strong new business awards in Managed Freight, a small acquisition and receding impacts of weather and avian influenza. However, margins remain compressed, particularly in our Asset- Based Truckload segments due to an inflationary cost environment, persistently high claims expense, a quarter-end jump in fuel prices and continued pressure on volume and yields in our Expedited and legacy Dedicated segments.
During the quarter, we repurchased
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