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Covenant Says It Lost $5.5 Million in First Quarter
Covenant Transportation Group said Tuesday it lost $5.5 million, or 39 cents per share, in the first quarter, compared with a loss of $7.8 million, or 56 cents, a year ago.
Revenue fell 26.4%, to $133.8 million, while freight revenue excluding fuel surcharges declined 17.8% to $122.1 million, the truckload carrier said in a statement.
Covenant Transportation Group is ranked No. 39 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.