Covenant Logistics Group officials said they anticipate improving market conditions across the freight industry over the next several months.

The company posted total revenue of $277 million in the quarter, a 1% year-over-year increase compared to the fourth quarter of 2023.

Total freight revenue increased 5% year-over-year to $251 million during the fourth quarter, with truckload operations increasing 3% year-over-year to $190 million.

Freight revenue per tractor per week increased 2% year-over-year to $5,444. Covenant Logistics’ dedicated segment revenue rose 17% to $91.7 million.

Covenant’s expedited truckload segment revenue decreased 6% year-over-year to $98.6 million, while the managed freight segment saw revenue of $62.2 million in the fourth quarter, a decrease of 5% from the same time last year.

Source: FINANCE.YAHOO