Covenant Logistics Group Reports 2024 Financials

TL;DR

Covenant Logistics Group's 2024 10-K shows $2.36B assets vs $2.45B liabilities, $2.35B revenue, and $5M net income. Debt is $10.7M.

AI Summary

Covenant Logistics Group, Inc. filed its 2024 10-K report, detailing a fiscal year ending December 31, 2024. The company reported total assets of $2,360 million and total liabilities of $2,449 million. Key financial figures include revenue of $2,350 million and net income of $5,000,000. The company also disclosed outstanding debt obligations, with long-term debt amounting to $10,721,517.

Why It Matters

This filing provides a comprehensive overview of Covenant Logistics Group's financial health and operational performance for the fiscal year 2024, crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company has more liabilities than assets, indicating potential financial strain.

Key Numbers

• $2.36B — Total Assets (Indicates the company's total resources as of fiscal year-end 2024.)
• $2.45B — Total Liabilities (Represents the company's total obligations as of fiscal year-end 2024.)
• $2.35B — Revenue (Shows the total income generated from sales and services in fiscal year 2024.)
• $5.0M — Net Income (The company's profit after all expenses for fiscal year 2024.)
• $10.7M — Long-term Debt (The amount of debt due after one year, as of fiscal year-end 2024.)

Key Players & Entities

• COVENANT LOGISTICS GROUP, INC. (company) — Filer
• 2024 (date) — Fiscal Year End
• 2360000000 (dollar_amount) — Total Assets
• 2449000000 (dollar_amount) — Total Liabilities
• 2350000000 (dollar_amount) — Revenue
• 5000000 (dollar_amount) — Net Income
• 10721517 (dollar_amount) — Long-term debt

FAQ

From the Filing

0001437749-25-005696.txt : 20250228 0001437749-25-005696.hdr.sgml : 20250228 20250228155229 ACCESSION NUMBER: 0001437749-25-005696 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 125 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250228 DATE AS OF CHANGE: 20250228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COVENANT LOGISTICS GROUP, INC. CENTRAL INDEX KEY: 0000928658 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 880320154 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-42192 FILM NUMBER: 25689692 BUSINESS ADDRESS: STREET 1: 400 BIRMINGHAM HIGHWAY CITY: CHATTANOOGA STATE: TN ZIP: 37419 BUSINESS PHONE: 4238211212 MAIL ADDRESS: STREET 1: 400 BIRMINGHAM HIGHWAY CITY: CHATTANOOGA STATE: TN ZIP: 37419 FORMER COMPANY: FORMER CONFORMED NAME: COVENANT TRANSPORTATION GROUP INC DATE OF NAME CHANGE: 20070522 FORMER COMPANY: FORMER CONFORMED NAME: COVENANT TRANSPORT INC DATE OF NAME CHANGE: 19940818 10-K 1 cvti20241231_10k.htm FORM 10-K cvti20241231_10k.htm 0000928658 COVENANT LOGISTICS GROUP, INC. false --12-31 FY 2024 true true true false true true false false false false 2,360 2,449 593 591 0.01 0.01 40,000,000 21,774,350 21,774,350 40,000,000 16,125,786 10,721,517 0.01 0.01 5,000,000 4,700,000 4,700,000 5,000,000 2,350,000 2,350,000 0 5,404,269 35,921 55,229 108,682 205 36 776 129 130 47 369 373 270 36,140 54,959 111,074 23,662 4 10 0 5 7 10 0 0 0 0 0 2 3 4 http://fasb.org/us-gaap/2024#OtherCostAndExpenseOperating http://fasb.org/us-gaap/2024#OtherCostAndExpenseOperating http://fasb.org/us-gaap/2024#OtherCostAndExpenseOperating 1 9.0 8.0 7.0 6.0 6.0 0 2 20 5 10 0 15 7 40 2 10 4 3 5.4 5.2 6.3 7.1 0.75 0 0 4.8 3.8 5.7 4.4 4.6 4.6 http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentNet 0.2 0.2 21 21 0 0.1 0.1 0.2 4 2 Total may not sum due to rounding. Total may not sum due to rounding. The chief operating decision maker does not receive fuel surcharge revenue and fuel expense individually, but is provided with fuel expense less fuel surcharge revenue (other than the fuel surcharge revenue we reimburse to independent contractors and other third parties which is included in purchased transportation), which we refer to as net fuel expense. The chief operating decision maker uses net fuel expense to measure the effectiveness of our fuel surcharge program. Other operating loss is attributable to unallocated corporate expenses. 0000928658 2024-01-01 2024-12-31 iso4217:USD 0000928658 2024-06-30 xbrli:shares 0000928658 us-gaap:CommonClassAMember 2025-02-26 0000928658 us-gaap:CommonClassBMember 2025-02-26 thunderdome:item 0000928658 2024-12-31 0000928658 2023-12-31 iso4217:USD xbrli:shares 0000928658 us-gaap:CommonClassAMember 2024-12-31 0000928658 us-gaap:CommonClassAMember 2023-12-31 0000928658 us-gaap:CommonClassBMember 2024-12-31 0000928658 us-gaap:CommonClassBMember 2023-12-31 0000928658 us-gaap:CargoAndFreightMember 2024-01-01 2024-12-31 0000928658 us-gaap:CargoAndFreightMember 2023-01-01 2023-12-31 0000928658 us-gaap:CargoAndFreightMember 2022-01-01 2022-12-31 0000928658 cvti:FuelSurchargeMember 2024-01-01 2024-12-31 0000928658 cvti:FuelSurchargeMember 2023-01-01 2023-12-31 0000928658 cvti:FuelSurchargeMember 2022-01-01 2022-12-31 0000928658 2023-01-01 2023-12-31 0000928658 2022-01-01 2022-12-31 0000928658 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2021-12-31 0000928658 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2021-12-31 0000928658 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0000928658 us-gaap:TreasuryStockCommonMember 2021-12-31 0000928658 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0000928658 us-gaap:RetainedEarningsMember 2021-12-31 0000928658 2021-12-31 0000928658 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2022-01-01 2022-12-31 0000928658 us-gaap:CommonClassBMembe