Last $9.70 USD
Change Today -0.08 / -0.82%
Volume 167.0K
As of 8:10 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

covenant transport grp-cl a (CVTI) Snapshot

Open
$9.77
Previous Close
$9.78
Day High
$9.98
Day Low
$9.50
52 Week High
03/10/14 - $12.29
52 Week Low
05/10/13 - $4.85
Market Cap
143.2M
Average Volume 10 Days
60.1K
EPS TTM
$0.35
Shares Outstanding
13.2M
EX-Date
--
P/E TM
27.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for COVENANT TRANSPORT GRP-CL A (CVTI)

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covenant transport grp-cl a (CVTI) Details

Covenant Transportation Group, Inc., together with its subsidiaries, offers truckload transportation and brokerage services in the continental United States. Its Asset-Based Truckload Services segment provides long haul, dedicated, temperature-controlled, and regional solo-driver services. The company also offers freight brokerage services directly, as well as through freight brokerage agents; less-than-truckload consolidation services; and accounts receivable factoring services. It serves transportation companies, such as freight forwarders, less-than-truckload carriers, and third-party logistics providers, as well as traditional truckload customers, including manufacturers, retailers, and food and beverage shippers. As of December 31, 2013, the company operated 2,688 tractors and 6,861 trailers. Covenant Transportation Group, Inc. was founded in 1994 and is headquartered in Chattanooga, Tennessee.

4,202 Employees
Last Reported Date: 03/18/14
Founded in 1994

covenant transport grp-cl a (CVTI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $546.4K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $197.2K
Chief Operating Officer, Senior Executive Vic...
Total Annual Compensation: $290.4K
President of Southern Refrigerated Transport ...
Total Annual Compensation: $250.0K
President of Star Transportation Inc
Total Annual Compensation: $184.0K
Compensation as of Fiscal Year 2013.

covenant transport grp-cl a (CVTI) Key Developments

Covenant Transportation Group, Inc. Reports Consolidated Operating and Earnings Results for the Fourth Quarter and Full Year Ended December 30, 2013; Provides Operating Guidance for the Year 2014

Covenant Transportation Group, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 30, 2013. For the quarter, the company reported total revenue of $176.488 million against $177.495 million for the same period last year. Operating income was $8.877 million against $5.149 million for the same period last year. Income before income taxes was $6.684 million against $3.024 million for the same period last year. Net income was $3.339 million or $0.22 per basic and diluted share against $1.453 million or $0.10 per basic and diluted share for the same period last year. CapEx ended up being $41 million. For the year, the company reported total revenue of $684.549 million against $674.254 million for the same period last year. Operating income was $20.394 million against $23.209 million for the same period last year. Income before income taxes was $12.747 million against $12.400 million for the same period last year. Net income was $5.244 million or $0.35 per basic and diluted share against $6.065 million or $0.41 per basic and diluted share for the same period last year. Tangible book value per basic share was $6.73 against $6.38 a year ago. For the quarter, the company reported average freight revenue per loaded mile of $1.743 against $1.699 for the same period last year. Average freight revenue per total mile was $1.564 against $1.525 for the same period last year. Average freight revenue per tractor per week was $3,568 against $3,490 for the same period last year. Average miles per tractor per period were 29,987 against 30,082 for the same period last year. Weighted average tractors for period were 2,714 against 2,877 for the same period last year. Tractors at end of period were 2,688 against 2,884 at the end of corresponding period last year. Trailers at end of period were 6,861 against 6,904 at the end of corresponding period last year. For the year, the company reported average freight revenue per loaded mile was $1.656 against $1.627 a year ago. Average freight revenue per total mile was $1.490 against $1.466 a year ago. Average freight revenue per tractor per week was $3,411 against $3,320 for the same period last year. Average miles per tractor per period were 119,375 against 118,103 for the same period last year. Weighted average tractors for period were 2,777 against 2,895 for the same period last year. Tractors at end of period were 2,688 against 2,884 at the end of corresponding period last year. Trailers at end of period were 6,861 against 6,904 at the end of corresponding period last year. The company current tractor fleet plan for 2014 includes the delivery of approximately 950 new company tractors, and the disposal of approximately 1,250 used tractors as the company significantly reduce the number of out-of-service tractors from the company's fleet. The company expects its fiscal 2014 average truck count to essentially equal that of fiscal 2013.

Covenant Transportation Group, Inc. Provides Earnings Guidance for the Fourth Quarter of 2013

Covenant Transportation Group, Inc. provided earnings guidance for the fourth quarter of 2013. For the fourth quarter of 2013, the company expects to report consolidated net income in a range of $0.18 to $0.22 per diluted share. These expected results compare to reported consolidated net income of $0.10 per diluted share for the fourth quarter of 2012. The expected improvement in earnings per diluted share relates primarily to higher freight revenue per tractor (excluding fuel surcharge revenue) in the company’s asset-based business, significant improvement in revenue and margins in the company’s non-asset based Covenant Transport Solutions business, and lower costs of fuel (net of fuel surcharge recovery).

Covenant Transportation Group, Inc., Q4 2013 Earnings Call, Jan 28, 2014

Covenant Transportation Group, Inc., Q4 2013 Earnings Call, Jan 28, 2014

 

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CVTI

Industry Average

Valuation CVTI Industry Range
Price/Earnings 28.0x
Price/Sales 0.2x
Price/Book 1.5x
Price/Cash Flow 3.0x
TEV/Sales NM Not Meaningful
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