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Operating Income By Segment
Breaks down operating income by business segment, revealing which areas contribute most to profitability and operational success.
Covenant’s profit mix is shifting: Managed Freight — once a steady high contributor — has structurally weakened since 2022, while Dedicated and Warehousing have become more important drivers of operating income. Expedited remains the largest but highly volatile source, exposing results to spot-demand swings and seasonality. The strong Q2 2026 bounce in Expedited and Dedicated suggests operating leverage from recent pricing or utilization gains, but quarter-to-quarter volatility still implies uneven cashflow visibility and ongoing execution risk for investors.
CVLG Operating Income By Segment
| Date | Expedited | Dedicated | Managed Freight | Warehousing |
|---|---|---|---|---|
| Jun 30, 2026 | $8.39M | $7.78M | $1.74M | $1.57M |
| Mar 31, 2026 | $2.82M | $5.59M | $3.70M | $1.78M |
| Dec 31, 2025 | $2.99M | $7.71M | $1.20M | $1.44M |
| Sep 30, 2025 | $5.08M | $4.10M | $2.96M | $2.50M |
| Jun 30, 2025 | $7.47M | $6.21M | $4.46M | $1.92M |
| Mar 31, 2025 | $4.12M | -$619.00K | $3.08M | $1.04M |
| Dec 31, 2024 | $6.14M | -$3.76M | $4.23M | $2.00M |
| Sep 30, 2024 | $6.47M | $5.43M | $2.45M | $1.89M |
| Jun 30, 2024 | $4.77M | $5.45M | $3.33M | $2.03M |
| Mar 31, 2024 | $4.78M | -$4.70M | $2.27M | $1.98M |
| Dec 31, 2023 | $6.25M | $4.35M | $2.48M | $1.19M |
| Sep 30, 2023 | $7.52M | $2.98M | $3.74M | $901.00K |
| Jun 30, 2023 | $5.82M | $3.24M | $1.95M | $780.00K |
| Mar 31, 2023 | $9.28M | $7.15M | $1.22M | -$9000.00 |
| Dec 31, 2022 | $5.97M | -$3.88M | $8.79M | $15.00K |
| Sep 30, 2022 | $30.66M | $19.42M | $8.61M | $378.00K |
| Jun 30, 2022 | $14.61M | $2.88M | $8.63M | $754.00K |
| Mar 31, 2022 | $9.33M | $2.64M | $10.83M | $1.04M |
| Dec 31, 2021 | $5.58M | $1.27M | $10.95M | $430.00K |
| Sep 30, 2021 | $11.06M | -$659.00K | $9.25M | $427.00K |
| Jun 30, 2021 | $10.22M | -$191.00K | $7.32M | $982.00K |
| Mar 31, 2021 | $6.24M | -$1.77M | $4.89M | $1.16M |
