Filing Flows › Covenant Logistics Group (CVLG) › Q1 2026
Covenant Logistics Group (CVLG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Covenant Logistics Group (CVLG) reported revenue of $307M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +4% from the quarter before. Operating margin was 2.0%, net earnings $4.4M (1.4% of revenue).
Covenant Logistics Group, Q1 2026: revenue $307M (+14% year over year), operating margin 2.0%, net earnings $4.4M, operating cash flow $29.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $307M | +4% | +14% |
| Operating profit | $6.3M | — | -18% |
| Net earnings | $4.4M | — | -33% |
| Operating cash flow | $29.0M | +13% | +17% |
| Free cash flow | $17.6M | — | — |
What changed
Revenue was $307.2M in Q1 2026, up 14% year over year and up 4% from the previous quarter. Cargo and Freight was the largest line at 92% of revenue. Cargo and Freight added $38.7M year over year (up 16%), 102% of the total change. Fuel Surcharge declined 3%.
Operating profit was $6.3M, a 2.0% margin (down 0.8 points year over year). Operating profit fell $1.3M even though revenue rose $37.8M versus Q1 2025, so costs grew faster than sales. Total costs grew 15% against revenue growth of 14%. Net earnings were $4.4M, down 33% year over year. The effective tax rate was 27.3%.
Operating cash flow was $29.0M (up 17% year over year), 655% of net earnings. Non-cash charges added back $24.0M of depreciation and amortization and $934K of share-based compensation. Capital expenditures of $11.4M left free cash flow of $17.6M.
Questions
What was Covenant Logistics Group's revenue in the first quarter 2026?
Covenant Logistics Group (CVLG) reported revenue of $307M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +4% from the quarter before.
Was Covenant Logistics Group profitable in the first quarter 2026?
Operating profit was $6.3M (2.0% of revenue) and net earnings $4.4M.