Covenant Logistics Group, Inc. (CVLG)

Overview

Covenant Logistics Group, Inc. is a significant entity in the transportation and logistics industry within the United States. Originally founded in 1986 as Covenant Transportation Group, Inc., the organization underwent a name change to Covenant Logistics Group, Inc. in July 2020. With its headquarters nestled in Chattanooga, Tennessee, Covenant Logistics Group stands as a conglomerate that delivers a multitude of transportation solutions through its subsidiaries. It operates a diversified portfolio of service offerings across four key segments: Expedited, Dedicated, Managed Freight, and Warehousing, tailored to meet the high standards of service freight and delivery requisites of its customers, which range from traditional truckload customers like manufacturers and retailers to transportation companies including parcel freight forwarders, less-than-truckload carriers, and third-party logistics providers. Alongside, it extends into the used equipment sales and leasing domain, enhancing its comprehensive suite of logistics solutions.

Products and Services

• Expedited

  This segment focusses on delivering truckload services that prioritize high service freight and stringent delivery standards. It caters to demands such as covering 1,000 miles in 22 hours or meeting 15-minute delivery windows, exemplifying its commitment to promptness and reliability.

• Dedicated

  The Dedicated segment offers customers committed truckload capacity for contracted periods, typically aiming for three to five years, utilizing equipment that is either owned or leased by the company. This service is designed to provide consistent and reliable transportation solutions to its clients.

• Managed Freight

  Under this segment, Covenant Logistics Group offers brokerage services, which involve outsourcing the carriage of customers' freight to third-party carriers. Additionally, it provides transport management services on a contractual basis for customers who prefer to outsource their comprehensive logistics needs, showcasing a flexible approach to logistic services.

• Warehousing

  Warehousing services cater to daily warehouse management needs of customers, which includes not just storing goods but also offering shuttle and switching services related to shuttling containers and trailers. This segment focuses on enhancing the efficiency of goods through the supply chain.