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Covenant Transportation posts 3Q profit

CHATTANOOGA, Tenn. (AP) _ Covenant Transportation Group Inc. (CVTI) on Thursday reported third-quarter net income of $4.6 million.

On a per-share basis, the Chattanooga, Tennessee-based company said it had net income of 25 cents.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The truckload transportation services provider posted revenue of $178.6 million in the period.

Covenant Transportation shares have climbed 44 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.78, a climb of 85 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