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Covenant Transport

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uuid000d5w7

Namestring
Covenant Transport
Legal namestring
Covenant Logistics, Inc.
Company typeenum
Public
Founded yearint
1986
Descriptiontext

Covenant Transport, operating legally as Covenant Logistics, Inc., is a publicly-traded (NASDAQ: CVTI) asset-based and asset-light truckload carrier and supply chain solutions provider founded in 1986 and headquartered in Chattanooga, Tennessee. The company organizes its offerings across two divisions: Logistics, encompassing Dedicated Contract Carriage, Distribution Center Management, Managed Transportation, and Port & Drayage; and Transportation, encompassing Expedited Truckload, Regional Truckload, and Capacity Solutions. Its operating model combines company-owned fleet capacity with contracted carrier networks, allowing Covenant to deliver dedicated capacity at contractual rates as well as scalable spot and managed transportation services.

Underlying the service portfolio is a data-driven continuous improvement framework applied across transportation, fleet, and warehousing operations, surfaced to customers through real-time load tracking, the Rate2Ship instant LTL quoting tool, and tariff management utilities. The company maintains an integrated family of brands including Star Logistics and Sims Transport, with Landair functioning as a wholly-owned driver services and dedicated transportation arm acquired in July 2018 for approximately $83 million.

Covenant generates revenue primarily through multi-year enterprise contracts with mid-to-large shippers across six verticals: Retail (primary), Industrial Manufacturing, Food & Beverage, Healthcare, Paper & Packaging, and Consumer Goods. Pricing is quote-based and negotiated per customer on volume and service requirements. Go-to-market is dominated by direct enterprise field sales supported by dedicated customer service and recruitment lines, complemented by self-service digital tools for smaller shippers and investors. Customer evidence is concentrated in retail — including a major sporting goods discount store chain and a retail chain of variety stores — both citing multi-DC dedicated support and pandemic-era operational adaptability.

Short descriptiontext

Covenant Transport (Covenant Logistics, Inc.) is a publicly-traded US truckload carrier and supply chain solutions provider offering dedicated carriage, managed transportation, distribution center management, and truckload services to enterprise customers across retail, manufacturing, healthcare, food and beverage, consumer goods, and paper and packaging verticals.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersChattanooga, United States
HQ citystring
Chattanooga
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
truckload transportation, logistics services, dedicated contract carriage, managed transportation, supply chain solutions
Industry2 codes
1Ocean Freight Brokerage (FCL/LCL)
CodeTLADAMAFPrimaryYes
2Customs Brokerage for Ocean Shipments (Import/Export Clearance)
CodeTLACABAGPrimaryNo
NAICS code3 codes
  • Freight Transportation Arrangement488510
  • Specialized Freight (except Used Goods) Trucking, Long-Distance48423
  • Deep Sea, Coastal, and Great Lakes Water Transportation48311
SIC code2 codes
  • Arrangement Of Transportation Of Freight & Cargo4731
  • Trucking (No Local)4213
Product category
Truckload Transportation and Logistics Services
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model5 records
1Transportation Services
TypeManaged Services
Description

Asset-based and asset-light truckload transportation services including expedited truckload and regional truckload. Revenue generated through contracted freight hauling with both company-owned fleet and contracted capacity.

covenantlogistics.com
2Dedicated Contract Carriage
TypeSubscription Recurring
Description

Dedicated fleet services where Covenant provides dedicated equipment, drivers, and management for specific customer operations. Recurring contractual revenue model.

covenantlogistics.com
3Managed Transportation
TypeManaged Services
Description

Third-party logistics management services including freight management, carrier selection, and optimization. Revenue from management fees and transaction-based freight costs.

covenantlogistics.com
4Distribution Center Management
TypeManaged Services
Description

Warehouse and distribution center operations management including staffing, processes, and technology. Revenue generated through contractual management agreements.

covenantlogistics.com
5Port & Drayage
TypeTransaction Fee
Description

Port drayage services for container transportation at ports and rail yards. Revenue from per-move/container fees.

covenantlogistics.com
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Pricing details1 tier
1Custom quote-based pricing for logistics and transportation services
ModelOtherBilling cadenceMulti-year contract
Notes

All pricing is negotiated on a per-customer basis based on volume, service requirements, and contract terms. No public pricing tiers available.

covenantlogistics.com
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 3 records shown
1Star Logistics
Description

Part of Covenant's family of brands providing logistics solutions

covenantlogistics.com
+2 more records
Core offering1 text field

Covenant Transport is an asset-based and asset-light truckload carrier and logistics provider offering dedicated contract carriage, managed transportation, distribution center management, and port & drayage services under the Covenant Logistics, Inc. corporate umbrella. The company delivers expedited and regional truckload capacity along with brokerage/capacity solutions through its Star Logistics, Sims Transport, and Landair sub-brands, serving shippers across retail, manufacturing, consumer goods, food & beverage, healthcare, and paper & packaging industries.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 3 values shown
  • Freight consolidation resulting in consistent capacity at contractual rates
+2 more records
Product overview1 text field

Covenant Logistics offers a comprehensive portfolio of logistics and transportation solutions organized into two main divisions: Logistics (including Dedicated Contract Carriage, Distribution Center Management, Managed Transportation, and Port & Drayage) and Transportation (including Expedited Truckload, Regional Truckload, and Capacity Solutions). The company operates under a platform-plus-modules architecture with multiple sub-brands (Star Logistics, Sims Transport) and provides self-service tools (Rate2Ship for LTL quotes, Load Tracking, and Tariff Tools). The solutions leverage data-driven, continuous improvement approaches to engineer value-driven supply chains for customers across industries including Consumer Goods, Retail, Food & Beverage, Industrial Manufacturing, Paper & Packaging, and Healthcare.

Product and service7 records
1Dedicated Contract Carriage
CategoryLogistics Services
Description

Dedicated transportation capacity with contracted fleet resources, drivers, and management tailored to specific customer operations, providing consistent capacity at agreed-upon contractual rates.

2Distribution Center Management
CategoryLogistics Services
Description

Management of distribution center operations including freight consolidation, staffing, and process optimization across multiple customer DCs.

3Managed Transportation
CategoryLogistics Services
Description

Third-party transportation management services that leverage data-driven insights to optimize logistics operations, including freight management and carrier selection.

4Port & Drayage
CategoryLogistics Services
Description

Port and drayage services facilitating the movement of containers and freight to and from port and rail yard facilities, billed per move/container.

5Expedited Truckload
CategoryTruckload Transportation
Description

Time-sensitive truckload transportation services with expedited delivery capabilities for urgent shipments using team drivers and priority routing.

6Regional Truckload
CategoryTruckload Transportation
Description

Regional truckload transportation services covering specific geographic areas with efficient routing, home-time advantage, and on-time delivery.

7Capacity Solutions
CategoryTruckload Transportation
Description

Asset-light brokerage providing access to transportation capacity through Covenant-owned assets and third-party carrier networks, with negotiation leverage and expansive purchasing power.

Scale indicator2 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierCoreTypeOthers
Description

Star Logistics is a subsidiary brand within the Covenant family of companies, providing additional logistics capabilities and services under the corporate umbrella.

2Sims Transport
Strategic tierCoreTypeOthers
Description

Sims Transport is a subsidiary brand within the Covenant family of companies, operating as part of the integrated logistics and transportation solution portfolio.

covenantlogistics.com
Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Largest U.S. publicly-traded truckload and intermodal carrier, with directly comparable service lines including Dedicated Contract Services, Integrated Capacity Solutions (brokerage), and Managed Transportation. Operates the same diversified platform-plus-modules architecture as Covenant.

TypeDirect peer
Description

Largest U.S. truckload carrier by fleet size with Trucking, LTL, and Logistics segments. Combines asset-based truckload with brokerage and dedicated capacity - the closest large-scale comp to Covenant's hybrid model.

TypeDirect peer
Description

Public truckload, intermodal, and logistics operator offering Dedicated, Truckload, Intermodal, and Logistics services. Directly comparable in dedicated contract carriage and managed transportation offerings.

TypeDirect peer
Description

Public truckload carrier with Dedicated Transportation, One-Way Truckload, and Logistics segments. Closely comparable to Covenant on dedicated contract carriage scale and customer mix in retail.

TypeDirect peer
Description

Public intermodal and logistics provider offering Truckload Brokerage, Dedicated, and Logistics services. Comparable in managed transportation and asset-light brokerage.

TypeDirect peer
Description

Public asset-light freight brokerage spin-off from XPO with truckload brokerage, managed transportation, and last-mile services. Comparable as a managed transportation and capacity solutions peer.

TypeDirect peer
Description

Largest U.S. third-party logistics provider with truckload brokerage, managed services, and global forwarding. Comparable on managed transportation and freight arrangement.

TypeDirect peer
Description

Public LTL, truckload, and logistics operator with Asset-Based and Asset-Light segments. Comparable as a diversified mid-cap logistics platform.

TypeDirect peer
Description

Public truckload carrier with temperature-protected, dedicated, and brokerage services. Comparable in dedicated and multi-segment truckload operating model.

TypeDirect peer
Description

Public asset-based truckload carrier with similar irregular route and dedicated service offerings. Closely comparable in fleet-based truckload economics.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat6 records

Each record includes

Type, Details

Key risks7 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers3 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment6 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles4 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries3 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Covenant Transport

Truckload Transportation and Logistics Servicescovenanttransport.com

Covenant Transport (Covenant Logistics, Inc.) is a publicly-traded US truckload carrier and supply chain solutions provider offering dedicated carriage, managed transportation, distribution center management, and truckload services to enterprise customers across retail, manufacturing, healthcare, food and beverage, consumer goods, and paper and packaging verticals.

What Covenant Transport does

Covenant Transport, operating legally as Covenant Logistics, Inc., is a publicly-traded (NASDAQ: CVTI) asset-based and asset-light truckload carrier and supply chain solutions provider founded in 1986 and headquartered in Chattanooga, Tennessee. The company organizes its offerings across two divisions: Logistics, encompassing Dedicated Contract Carriage, Distribution Center Management, Managed Transportation, and Port & Drayage; and Transportation, encompassing Expedited Truckload, Regional Truckload, and Capacity Solutions. Its operating model combines company-owned fleet capacity with contracted carrier networks, allowing Covenant to deliver dedicated capacity at contractual rates as well as scalable spot and managed transportation services.

Underlying the service portfolio is a data-driven continuous improvement framework applied across transportation, fleet, and warehousing operations, surfaced to customers through real-time load tracking, the Rate2Ship instant LTL quoting tool, and tariff management utilities. The company maintains an integrated family of brands including Star Logistics and Sims Transport, with Landair functioning as a wholly-owned driver services and dedicated transportation arm acquired in July 2018 for approximately $83 million.

Covenant generates revenue primarily through multi-year enterprise contracts with mid-to-large shippers across six verticals: Retail (primary), Industrial Manufacturing, Food & Beverage, Healthcare, Paper & Packaging, and Consumer Goods. Pricing is quote-based and negotiated per customer on volume and service requirements. Go-to-market is dominated by direct enterprise field sales supported by dedicated customer service and recruitment lines, complemented by self-service digital tools for smaller shippers and investors. Customer evidence is concentrated in retail — including a major sporting goods discount store chain and a retail chain of variety stores — both citing multi-DC dedicated support and pandemic-era operational adaptability.

Covenant Transport firmographics

Firmographics
Name
Covenant Transport
Legal name
Covenant Logistics, Inc.
Website
https://covenanttransport.com
Company type
Public
Founded year
1986
Operating status
Operating
Headcount range
1,001–5,000 employees
Short description
Covenant Transport (Covenant Logistics, Inc.) is a publicly-traded US truckload carrier and supply chain solutions provider offering dedicated carriage, managed transportation, distribution center management, and truckload services to enterprise customers across retail, manufacturing, healthcare, food and beverage, consumer goods, and paper and packaging verticals.
Ownership category
akta.pro rank

Covenant Transport industry classification

Industry
Product category
Truckload Transportation and Logistics Services
NAICS
Freight Transportation Arrangement (488510), Specialized Freight (except Used Goods) Trucking, Long-Distance (48423), Deep Sea, Coastal, and Great Lakes Water Transportation (48311)
SIC
Arrangement Of Transportation Of Freight & Cargo (4731), Trucking (No Local) (4213)
akta.pro primary industry
Ocean Freight Brokerage (FCL/LCL) (TLADAMAF)
akta.pro secondary industry
Customs Brokerage for Ocean Shipments (Import/Export Clearance) (TLACABAG)

Keywords

  • Truckload transportation
  • Logistics services
  • Dedicated contract carriage
  • Managed transportation
  • Supply chain solutions

Where Covenant Transport is headquartered

Location

Headquarters

HQ city
Chattanooga
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Covenant Transport business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

  1. Transportation Services: Asset-based and asset-light truckload transportation services including expedited truckload and regional truckload. Revenue generated through contracted freight hauling with both company-owned fleet and contracted capacity.
  2. Dedicated Contract Carriage: Dedicated fleet services where Covenant provides dedicated equipment, drivers, and management for specific customer operations. Recurring contractual revenue model.
  3. Managed Transportation: Third-party logistics management services including freight management, carrier selection, and optimization. Revenue from management fees and transaction-based freight costs.
  4. Distribution Center Management: Warehouse and distribution center operations management including staffing, processes, and technology. Revenue generated through contractual management agreements.
  5. Port & Drayage: Port drayage services for container transportation at ports and rail yards. Revenue from per-move/container fees.

Pricing tiers

ModelBillingPrice
OtherMulti-year contractCustom quote-based pricing for logistics and transportation services

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Covenant Transport product offering

Product offering

Core offering

Covenant Transport is an asset-based and asset-light truckload carrier and logistics provider offering dedicated contract carriage, managed transportation, distribution center management, and port & drayage services under the Covenant Logistics, Inc. corporate umbrella. The company delivers expedited and regional truckload capacity along with brokerage/capacity solutions through its Star Logistics, Sims Transport, and Landair sub-brands, serving shippers across retail, manufacturing, consumer goods, food & beverage, healthcare, and paper & packaging industries.

Product overview

Covenant Logistics offers a comprehensive portfolio of logistics and transportation solutions organized into two main divisions: Logistics (including Dedicated Contract Carriage, Distribution Center Management, Managed Transportation, and Port & Drayage) and Transportation (including Expedited Truckload, Regional Truckload, and Capacity Solutions). The company operates under a platform-plus-modules architecture with multiple sub-brands (Star Logistics, Sims Transport) and provides self-service tools (Rate2Ship for LTL quotes, Load Tracking, and Tariff Tools). The solutions leverage data-driven, continuous improvement approaches to engineer value-driven supply chains for customers across industries including Consumer Goods, Retail, Food & Beverage, Industrial Manufacturing, Paper & Packaging, and Healthcare.

Differentiator

Problem solved

Functional benefit

Brands

  • Star Logistics: Part of Covenant's family of brands providing logistics solutions
  • Sims Transport
  • Landair

Products and services

  • Dedicated Contract Carriage Dedicated transportation capacity with contracted fleet resources, drivers, and management tailored to specific customer operations, providing consistent capacity at agreed-upon contractual rates.
  • Distribution Center Management Management of distribution center operations including freight consolidation, staffing, and process optimization across multiple customer DCs.
  • Managed Transportation Third-party transportation management services that leverage data-driven insights to optimize logistics operations, including freight management and carrier selection.
  • Port & Drayage Port and drayage services facilitating the movement of containers and freight to and from port and rail yard facilities, billed per move/container.
  • Expedited Truckload Time-sensitive truckload transportation services with expedited delivery capabilities for urgent shipments using team drivers and priority routing.
  • Regional Truckload Regional truckload transportation services covering specific geographic areas with efficient routing, home-time advantage, and on-time delivery.
  • Capacity Solutions Asset-light brokerage providing access to transportation capacity through Covenant-owned assets and third-party carrier networks, with negotiation leverage and expansive purchasing power.

Quantifiable outcome

  • Freight consolidation resulting in consistent capacity at contractual rates
  • +2 more outcomes

Companies that use Covenant Transport

Customer profile

Named customers3 records

Segments6 records

Ideal customer profiles3 records

Covenant Transport technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Covenant Transport partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core.

  • Star LogisticscoreOthersStar Logistics is a subsidiary brand within the Covenant family of companies, providing additional logistics capabilities and services under the corporate umbrella.
  • Sims TransportcoreOthersSims Transport is a subsidiary brand within the Covenant family of companies, operating as part of the integrated logistics and transportation solution portfolio.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Covenant Transport competitors and assessment

Company assessment

Direct peers

  • J.B. Hunt Transport Services: Largest U.S. publicly-traded truckload and intermodal carrier, with directly comparable service lines including Dedicated Contract Services, Integrated Capacity Solutions (brokerage), and Managed Transportation. Operates the same diversified platform-plus-modules architecture as Covenant.
  • Knight-Swift Transportation: Largest U.S. truckload carrier by fleet size with Trucking, LTL, and Logistics segments. Combines asset-based truckload with brokerage and dedicated capacity - the closest large-scale comp to Covenant's hybrid model.
  • Schneider National: Public truckload, intermodal, and logistics operator offering Dedicated, Truckload, Intermodal, and Logistics services. Directly comparable in dedicated contract carriage and managed transportation offerings.
  • Werner Enterprises: Public truckload carrier with Dedicated Transportation, One-Way Truckload, and Logistics segments. Closely comparable to Covenant on dedicated contract carriage scale and customer mix in retail.
  • Hub Group: Public intermodal and logistics provider offering Truckload Brokerage, Dedicated, and Logistics services. Comparable in managed transportation and asset-light brokerage.
  • RXO, Inc. Public asset-light freight brokerage spin-off from XPO with truckload brokerage, managed transportation, and last-mile services. Comparable as a managed transportation and capacity solutions peer.
  • C.H. Robinson Worldwide: Largest U.S. third-party logistics provider with truckload brokerage, managed services, and global forwarding. Comparable on managed transportation and freight arrangement.
  • ArcBest: Public LTL, truckload, and logistics operator with Asset-Based and Asset-Light segments. Comparable as a diversified mid-cap logistics platform.
  • Marten Transport: Public truckload carrier with temperature-protected, dedicated, and brokerage services. Comparable in dedicated and multi-segment truckload operating model.
  • Heartland Express: Public asset-based truckload carrier with similar irregular route and dedicated service offerings. Closely comparable in fleet-based truckload economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Covenant Transport social profiles

Digital presence

Covenant Transport financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Covenant Transport leadership team

Management profile

Number of profiles

Profiles4 records

Covenant Transport subsidiaries and ownership

Company hierarchy

Subsidiaries3 records

Covenant Transport funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Covenant Transport M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covenant Transport

What does Covenant Transport do?

Covenant Transport is an asset-based and asset-light truckload carrier and logistics provider offering dedicated contract carriage, managed transportation, distribution center management, and port & drayage services under the Covenant Logistics, Inc. corporate umbrella. The company delivers expedited and regional truckload capacity along with brokerage/capacity solutions through its Star Logistics, Sims Transport, and Landair sub-brands, serving shippers across retail, manufacturing, consumer goods, food & beverage, healthcare, and paper & packaging industries.

Is Covenant Transport a public or private company?

Covenant Transport is a public company. It is classified as public and is currently operating.

When was Covenant Transport founded?

Covenant Transport was founded in 1986. It employs 1,001 to 5,000 people.

Where is Covenant Transport based?

Covenant Transport is headquartered in Chattanooga, United States, in the North America region.

How does Covenant Transport make money?

Five revenue lines are on record. Transportation Services are the primary driver. The others are dedicated Contract Carriage, managed Transportation, distribution Center Management and port & Drayage.

Who are Covenant Transport's main competitors?

Direct peers on record are J.B. Hunt Transport Services, Knight-Swift Transportation, Schneider National, Werner Enterprises, Hub Group, RXO, Inc., C.H. Robinson Worldwide, ArcBest, Marten Transport and Heartland Express.

Does Covenant Transport have an API?

No public API is recorded for Covenant Transport.

What industry is Covenant Transport in?

Covenant Transport's product category is Truckload Transportation and Logistics Services. Its primary akta.pro industry code is TLADAMAF, Ocean Freight Brokerage (FCL/LCL), with a secondary code of TLACABAG, Customs Brokerage for Ocean Shipments (Import/Export Clearance). Its NAICS code is 488510 and its SIC code is 4731.

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Live signals
YahooCarriers Gain Leverage: Become a Shipper of Choice to Win CapacityCarrier leverage is strengthening in the freight market as regulatory tightening and cost pressures from insurance inflation and driver compensation narrow supply, positioning carriers to direct capacity toward shippers offering visibility, predictability, and consistent weekly volumes. At the Univar Carrier Kickoff in Chattanooga, Covenant Transport's Senior Vice President Tyson Wimberly highlighted that professional drivers remain underpaid despite recent inflation, with utilization variability cited as the primary driver of attrition. The shift marks a notable change from the prior four years of freight recession conditions, with Wimberly predicting continued supply constraints from regulatory enforcement.BenzingaCovenant Sells Its Factoring Arm To TriumphCovenant Transportation Group is exiting the factoring business by selling its Transportation Financial Solutions (TFS) arm to Triumph Business Capital for $108.4 million in cash and $13.9 million in Covenant stock, with potential additional payments up to $9.9 million. The transaction is expected to generate a pretax gain of $34 million to $38 million for Covenant in the third quarter. Triumph Business Capital expects the acquisition to be accretive to its annual earnings by approximately 15 cents per share.Benzinga'Worst' Market In 47 years As Restructuring At Covenant ContinuesCovenant Transportation Group reported a Q1 adjusted net loss of $1.7 million ($0.09 per share), beating consensus by a penny, while implementing strategic restructuring that includes reducing its 3,000-unit tractor fleet by 12-14% and closing underperforming terminals. CEO David Parker described April as the "worst" operating environment in his 47-year career, with spot rates falling to 20-year lows due to a sharp volume decline and automotive sector shutdown. The company has undertaken cost-cutting measures including layoffs, suspended 401k matching, and executive salary reductions, though insurance costs remain a headwind with premiums up $500,000 and increased self-insurance exposure.GlobeNewswireCovenant Transportation Group, Inc. Announces Timing of First Quarter Earnings Release and Conference CallCovenant Transportation Group announced it will release its first-quarter earnings after 4:00 p.m. Eastern on May 19, 2020, and hold a live conference call on May 20 at 11:00 a.m. Eastern. The call will be accessible via dial-in and audio replay, with additional financial information available on the company's investor website.PR NewswireATA Honors Trucking Advocates with Mike Russell Trucking Image AwardsThe American Trucking Associations presented the Mike Russell Trucking Image Awards in San Diego to recognize individuals and organizations that improved the industry's public image through programs and advocacy. This year's winners included Covenant Transport for developing the Tomorrow's Truckers program, the Minnesota Trucking Association for its state-level public relations campaign, Kevin Burch of Jet Express Inc., and Steve Fields of YRC Freight. The awards are sponsored by HireRight and named in honor of the late Mike Russell, former ATA vice president of public affairs.GlobeNewswireDetailed Research: Economic Perspectives on Liberty Property Trust, Franklin Electric Co., The Progressive, Covenant Transportation Group, Rush Enterprises, and GrubHub — What Drives Growth in Today'sFundamental Markets released new research reports on Liberty Property Trust, Franklin Electric, The Progressive, Covenant Transportation, Rush Enterprises, and GrubHub. The reports include financial performance data for the three months and twelve months ended June 30, 2018, with revenue and earnings per share figures for each company.GlobeNewswireMarket Trends Toward New Normal in Sykes Enterprises, Carnival, Covenant Transportation Group, Synergy Pharmaceuticals, Regeneron Pharmaceuticals, and Minerals Technologies — Emerging Consolidated ExpFundamental Markets released research reports on Sykes Enterprises, Carnival Corporation, Covenant Transportation Group, Synergy Pharmaceuticals, Regeneron Pharmaceuticals, and Minerals Technologies. The reports include financial performance data and earnings forecasts for each company, with earnings dates and EPS estimates provided.GlobeNewswireRecent Analysis Shows Ameriprise Financial, Covenant Transportation Group, Popular, Suburban Propane Partners, AAC, and Regeneron Pharmaceuticals Market Influences — Renewed Outlook, Key Drivers of GrFundamental Markets released new research reports on Ameriprise Financial, Covenant Transportation Group, Popular, Suburban Propane Partners, AAC Holdings, and Regeneron Pharmaceuticals. The reports include updated financial performance, with Ameriprise reporting 8.27% revenue growth and Regeneron up 14.59% in Q1 2018. Earnings dates and EPS forecasts for each company are also provided.GlobeNewswireRecent Analysis Shows Welltower, Integer, Jernigan Capital, ZTO EXPRESS INC, Kala Pharmaceuticals, and Covenant Transportation Group Market Influences — Renewed Outlook, Key Drivers of GrowthFundamental Markets released new research reports on Welltower, Integer, Jernigan Capital, ZTO Express, Kala Pharmaceuticals, and Covenant Transportation Group. The reports include financial performance data, such as Welltower's Q3 2017 EPS of -$0.31 and Integer's Q3 2017 EPS of $1.73, along with forward-looking estimates.GlobeNewswireNew Research: Key Drivers of Growth for Hub Group, Meridian, ICU Medical, First Merchants, AAC, and Covenant Transportation Group — Factors of Influence, Major Initiatives and Sustained ProductionFundamental Markets released new research reports on Hub Group, Meridian Bancorp, ICU Medical, First Merchants, AAC Holdings, and Covenant Transportation Group. The reports include financial performance data and earnings forecasts, with Hub Group's EPS forecast of $2.26 and Meridian's of $1.16 for the next fiscal year.