Covenant Transportation (CVTI) Reports In-Line Q1 EPS, Q2 EPS Guidance Comes in Light
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Covenant Transportation Group Announces First Quarter Financial and Operating Results
April 27, 2016 4:07 PM EDTCHATTANOOGA, Tenn., April 27, 2016 (GLOBE NEWSWIRE) -- Covenant Transportation Group, Inc. (NASDAQ: CVTI) announced today financial and operating results for the first quarter ended March 31, 2016.
Highlights for the quarter included the following:
Total revenue of $156.3 million, a decrease of 6.5% compared with the first quarter of 2015.Freight revenue of $144.7 million (excludes revenue from fuel surcharges), an increase of 0.9% compared with the first quarter of 2015.Operating income of $7.4 million and an operating ratio of 94.9%, compared with operating income of $10.0 million and an operating ratio of 93.0% in the first... More