Filing Flows › Covenant Logistics Group (CVLG) › Q3 2026 › vs Q2 2026
Covenant Logistics Group (CVLG) Q3 2026 vs Q2 2026 (quarter over quarter)
Covenant Logistics Group's revenue rose $21.0M (+6%) from $333M in Q2 2026 to $354M in Q3 2026. The biggest changes: Cargo and Freight +$20.4M (+7%); Fuel Surcharge +$664K (+2%). Operating margin 3.5% against 2.7% (+0.9 pts).
Covenant Logistics Group, Q3 2026: revenue $354M (+19% year over year), operating margin 3.5%, net earnings $10.7M, operating cash flow $26.7M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.5% | 2.7% | +0.9 pts |
| Net margin | 3.0% | 2.6% | +0.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Cargo and Freight | $315M | $295M | $20.4M | +7% |
| Fuel Surcharge | $38.8M | $38.2M | $664K | +2% |
| Revenue | $354M | $333M | $21.0M | +6% |
| Other income, net | $1.8M | $2.3M | −$488K | -21% |
| Operating profit | $12.5M | $8.8M | $3.7M | +41% |
| Costs & expenses | $341M | $324M | $17.4M | +5% |
| Pre-tax earnings | $14.3M | $11.1M | $3.2M | +28% |
| Net earnings | $10.7M | $8.5M | $2.2M | +25% |
| Income tax | $3.6M | $2.6M | $996K | +38% |
| Depreciation & amortization | $23.5M | $22.8M | $639K | +3% |
| Share-based compensation | $632K | $228K | $404K | +177% |
| Working capital & other | $8.0M | $42.4M | −$34.4M | -81% |
| Operating cash flow | $26.7M | −$10.9M | $37.6M | — |
| Capital expenditures | $33.9M | $33.8M | $74K | +0.2% |
| Negative free cash flow (OCF − capex) | $7.1M | $44.7M | −$37.5M | -84% |
Questions
How much did Covenant Logistics Group's revenue grow quarter over quarter in Q3 2026?
Covenant Logistics Group's revenue rose $21.0M (+6%) from $333M in Q2 2026 to $354M in Q3 2026.
What drove Covenant Logistics Group's revenue change in Q3 2026?
Cargo and Freight +$20.4M (+7%); Fuel Surcharge +$664K (+2%).