Covenant Transportation (CVTI) Tops Q4 EPS by 8c, Offers Guidance

Covenant Transportation (NASDAQ: CVTI) reported Q4 EPS of $0.82, $0.08 better than the analyst estimate of $0.74. Revenue for the quarter came in at $206.8 million versus the consensus estimate of $190.39 million.

Covenant Transportation sees Q1 2015 EPS of $0.10-$0.18, versus the consensus of $0.05.

Outlook

"Our outlook for 2015 is positive. We expect our average truck count to grow slowly over the course of the year, starting with a slight year-over-year increase in the first quarter of 2015. In addition, we expect to report earnings in the first quarter in a range of $0.10 to $0.18 per diluted share, on approximately 18.4 million weighted average shares, generating positive first quarter earnings for the first time since 2004. For the full year, we expect earnings per diluted share to increase modestly over 2014, even if adding back the approximately $0.30 per share unfavorable cargo claim reserve adjustment we recorded in the third quarter of 2014 and taking into consideration approximately 19.0% more estimated annual weighted average diluted shares. Achieving year-over-year improvements may become more challenging in the second half of the year depending on the level of involvement of our asset-based and Solutions subsidiaries in the supply chains of our LTL, parcel, and omni-channel shipping customers during the peak freight season."

For earnings history and earnings-related data on Covenant Transportation (CVTI) click here.

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