Covenant Logistics Group, Inc. (NYSE:CVLG) Q2 2025 Earnings Name July 24, 2025 10:00 AM ET
Firm Contributors
David Ray Parker – Chairman of the Board & CEO
James S. Grant – Govt VP & CFO
M. Paul Bunn – President
Convention Name Contributors
Daniel Robert Imbro – Stephens Inc., Analysis Division
David Floyd – Unidentified Firm
Elliot Andrew Alper – TD Cowen, Analysis Division
Jeffrey Asher Kauffman – Vertical Analysis Companions, LLC
Scott H. Group – Wolfe Analysis, LLC
Operator
Welcome to at present’s Covenant Logistics Group Q2 2025 Earnings Launch and Investor Convention Name. Our host for at present’s name is Tripp Grant. (Operator Directions)
I’d now like to show the decision over to your host. Mr. Grant, it’s possible you’ll start.
James S. Grant
Good morning, everybody, and welcome to the Covenant Logistics Group’s Second Quarter 2025 Convention Name. As a reminder, this name will include forward-looking statements beneath the Non-public Securities Litigation Reform Act, that are topic to dangers and uncertainties that would trigger precise outcomes to vary materially. Please assessment our SEC filings and most up-to-date danger components. We undertake no obligation to publicly replace or revise any forward-looking statements. Our ready feedback and extra monetary info can be found on our web site at www.covenantlogistics.com/traders.
Becoming a member of me at present are CEO, David Parker; President, Paul Bunn; and COO, Dustin Koehl. Income rebounded in the course of the second quarter to a brand new file excessive, because of rising our devoted fleet, robust new enterprise awards in Managed Freight, a small acquisition and receding impacts of climate and avian influenza. Nevertheless, margins stay compressed, notably in our Asset- Based mostly Truckload segments attributable to an inflationary value setting, persistently excessive claims expense, a quarter-end bounce in gas costs and continued stress on quantity and yields in our Expedited and legacy Devoted segments.
Throughout the quarter, we repurchased