Covenant Logistics Group, Inc.
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Covenant Logistics Group, Inc. (CVLG). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Highway Services [Member] | $337.1M 32.2% | $452.7M 37.2% · +34.3% | $423.8M 38.4% · -6.4% | $416.5M 36.8% · -1.7% |
| Dedicated [Member] | $324.5M 31.0% | $363.0M 29.8% · +11.8% | $320.3M 29.0% · -11.8% | $364.4M 32.2% · +13.8% |
| Managed Freight [Member] | $321.2M 30.7% | $321.0M 26.4% · -0.1% | $258.9M 23.5% · -19.3% | $248.9M 22.0% · -3.8% |
| Warehousing [Member] | – | $80.2M 6.6% | $100.6M 9.1% · +25.4% | $101.7M 9.0% · +1.1% |
| Factoring [Member] | $63.2M 6.0% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Highway Services [Member] | $33.1M 9.8% | – | – | $45.8M 11.0% |
| Dedicated [Member] | – | – | – | – |
| Managed Freight [Member] | – | – | – | – |
| Warehousing [Member] | – | – | – | $10.4M 10.2% |
| Factoring [Member] | $3.0M 4.7% | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cargo and Freight [Member] | $949.9M 90.8% | $1.05B 86.0% · +10.2% | $970.5M 87.9% · -7.3% | $1.01B 89.6% · +4.5% |
| Fuel Surcharge [Member] | $96.1M 9.2% | $170.5M 14.0% · +77.4% | $133.1M 12.1% · -21.9% | $117.5M 10.4% · -11.7% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.