Filing Flows › Covenant Logistics Group (CVLG) › Q2 2025
Covenant Logistics Group (CVLG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Covenant Logistics Group (CVLG) reported revenue of $303M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +12% from the quarter before. Operating margin was 3.8%, net earnings $9.8M (3.2% of revenue).
Covenant Logistics Group, Q2 2025: revenue $303M (+5% year over year), operating margin 3.8%, net earnings $9.8M, operating cash flow $21.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $303M | +12% | +5% |
| Operating profit | $11.6M | +52% | -26% |
| Net earnings | $9.8M | +50% | -19% |
| Operating cash flow | $21.9M | -12% | -2% |
What changed
Revenue was $302.9M in Q2 2025, up 5% year over year and up 12% from the previous quarter. Cargo and Freight was the largest line at 91% of revenue. Cargo and Freight added $20.0M year over year (up 8%), 130% of the total change. Fuel Surcharge declined 15%.
Operating profit was $11.6M, a 3.8% margin (down 1.6 points year over year). Operating profit fell $4.0M even though revenue rose $15.4M versus a year earlier, so costs grew faster than sales. Total costs grew 7% against revenue growth of 5%. Net earnings were $9.8M, down 19% year over year. The effective tax rate was 26.4%.
Operating cash flow was $21.9M (down 2% year over year), 223% of net earnings. Non-cash charges added back $23.1M of depreciation and amortization and $920K of share-based compensation. Working capital and other items used $12.0M. Capital expenditures of $36.4M exceeded it, leaving free cash flow of −$14.5M.
Questions
What was Covenant Logistics Group's revenue in the second quarter 2025?
Covenant Logistics Group (CVLG) reported revenue of $303M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +12% from the quarter before.
Was Covenant Logistics Group profitable in the second quarter 2025?
Operating profit was $11.6M (3.8% of revenue) and net earnings $9.8M.