Filing Flows › Covenant Logistics Group (CVLG) › How it makes money
How Covenant Logistics Group (CVLG) makes money
Covenant Logistics Group (CVLG) made $354M of revenue in the third quarter 2026 (Q3 2026), +19% from a year earlier. Cargo and Freight brought in $315M (89%); Fuel Surcharge brought in $38.8M (11%). Of every dollar of revenue, 4¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Cargo and Freight | $315M | 89.0% | +7% | +17% |
| Fuel Surcharge | $38.8M | 11.0% | +2% | +38% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $354M | 100.0% |
| Operating profit | $12.5M | 3.5% |
| Income tax | $3.6M | 1.0% |
| Net earnings | $10.7M | 3.0% |
| Operating cash flow | $26.7M | 7.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $354M | +19% |
| Q2 2026 | $333M | +10% |
| Q1 2026 | $307M | +14% |
| Q4 2025 | $295M | +6% |
| Q3 2025 | $297M | +3% |
| Q2 2025 | $303M | +5% |
| Q1 2025 | $269M | -3% |
From Covenant Logistics Group's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does Covenant Logistics Group make money?
Covenant Logistics Group (CVLG) made $354M of revenue in the third quarter 2026 (Q3 2026), +19% from a year earlier. Cargo and Freight brought in $315M (89%); Fuel Surcharge brought in $38.8M (11%). Of every dollar of revenue, 4¢ was left as operating profit, 3¢ was left as net earnings.
What is Covenant Logistics Group's biggest business?
Cargo and Freight: $315M in the third quarter 2026, 89% of revenue, +17% from a year earlier.
What is Covenant Logistics Group's profit margin?
Net earnings were $10.7M, 3.0% of revenue, in the third quarter 2026; the operating margin was 3.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.