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Covenant Transportation: 1Q Earnings Snapshot

CHATTANOOGA, Tenn. (AP) _ Covenant Transportation Group Inc. (CVTI) on Thursday reported first-quarter earnings of $4.4 million.

The Chattanooga, Tennessee-based company said it had net income of 24 cents per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The truckload transportation services provider posted revenue of $219.2 million in the period.

Covenant Transportation shares have risen slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.86, a decline of 30 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVTI at https://www.zacks.com/ap/CVTI