Covenant (CCJ Top 250, No. 38) saw strong profits overcoming market head winds, with asset-based Expedited and Dedicated segments contributing 85% of operating income while Managed Freight and Warehousing brought in just 15% on 32% of all revenue.
Chairman and Chief Executive Officer, David R. Parker said the "results were achieved despite unprecedented inflation cost headwinds and a softening freight market. We expect both cost inflation and lower demand to continue for the remainder of this year and in to 2023."
Revenue: 2022 Q3: $311.8 million vs. 2021 Q3: $274.6 million
2022 YTD: $920.8 million vs. 2021 YTD: $751.7 million
Income: 2022 Q3: $59.1 million vs. 2021 Q3: $20.1 million
2022 YTD: $75.2 million vs. 2021 YTD: $52.4 million
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