Filing Flows › Covenant Logistics Group (CVLG) › Q4 2025
Covenant Logistics Group (CVLG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Covenant Logistics Group (CVLG) reported revenue of $295M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -0.5% from the quarter before. Operating margin was -8.2%, net loss $18.3M (6.2% of revenue).
Covenant Logistics Group, Q4 2025: revenue $295M (+6% year over year), operating margin -8.2%, net loss $18.3M, operating cash flow $25.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $295M | -0.5% | +7% |
| Operating profit | −$24.2M | -405% | — |
| Net earnings | −$18.3M | -301% | — |
| Operating cash flow | $25.5M | -38% | +16% |
What changed
Revenue was $295.4M in Q4 2025, up 7% year over year and down 1% from the previous quarter. Cargo and Freight was the largest line at 92% of revenue.
Operating costs exceeded revenue by $24.2M, an operating margin of -8.2%. Total costs grew 19% against revenue growth of 7%. The quarter ended with a net loss of $18.3M, after a profit of $9.1M the previous quarter.
Operating cash flow was $25.5M (up 16% year over year). Non-cash charges added back $24.9M of depreciation and amortization and $574K of share-based compensation. Working capital and other items added $18.4M. Capital expenditures of $28.5M exceeded it, leaving free cash flow of −$3.0M.
Questions
What was Covenant Logistics Group's revenue in the fourth quarter 2025?
Covenant Logistics Group (CVLG) reported revenue of $295M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and -0.5% from the quarter before.
Was Covenant Logistics Group profitable in the fourth quarter 2025?
Operating loss was $24.2M (-8.2% of revenue) and net loss $18.3M.