Covenant Logistics (CVLG) Operating Expenses (2010 - 2026)
Covenant Logistics (CVLG) posted quarterly Operating Expenses of $300.9 million for Q1 2026, up 14.96% year-over-year from $261.7 million in Q1 2025, and down 64.27% quarter-over-quarter from $842.0 million in Q3 2025.
Covenant Logistics (CVLG) Operating Expenses (2010 - 2026) Analysis & Trends
Covenant Logistics (CVLG) has reported Operating Expenses for 17 consecutive years, with $300.9 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 14.96% year-over-year to $300.9 million; the TTM figure through Mar 2026 stood at $1.7 billion (up 4.29% YoY), while the FY2025 annual figure was $1.2 billion, up 6.88% from the prior year.
- Operating Expenses eased to $300.9 million in Q1 2026 per CVLG's latest filing, from $842.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $842.0 million in Q3 2025 and bottomed at $60.9 million in Q3 2022.
- Historically, Operating Expenses has averaged $369.7 million across 5 years, with a median of $274.4 million in 2024.
- Annual changes were most pronounced in 2022 — Operating Expenses plunged 76.08% — and 2023, when it jumped 349.52%.
- Covenant Logistics' Operating Expenses stood at $285.2 million in 2022, then dropped by 8.92% to $259.7 million in 2023, then jumped by 214.96% to $818.0 million in 2024, then rose by 2.93% to $842.0 million in 2025, then sank by 64.27% to $300.9 million in 2026.
- Business Quant data shows CVLG's Operating Expenses at $300.9 million in Q1 2026, $842.0 million in Q3 2025, and $553.0 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Old Dominion Freight Line | 42.49 Bn | 42.21 Bn | 1.52 Bn | 1.09 Bn |
| 2 | Xpo | 23.08 Bn | 22.78 Bn | 1.89 Bn | 476.00 Mn |
| 3 | TFI International | 11.47 Bn | 11.26 Bn | - | 2.07 Bn |
| 4 | Knight-Swift Transportation Holdings | 11.33 Bn | 11.14 Bn | 1.77 Bn | 1.99 Bn |
| 5 | Saia | 9.61 Bn | 9.53 Bn | - | 831.28 Mn |
| 6 | Schneider National | 6.15 Bn | 5.63 Bn | 1.00 Bn | 1.50 Bn |
| 7 | Rxo | 3.68 Bn | 3.66 Bn | 302.00 Mn | 218.00 Mn |
| 8 | Arcbest | 3.03 Bn | 2.86 Bn | 1.14 Bn | 1.21 Bn |
| 9 | Werner Enterprises | 2.28 Bn | 2.23 Bn | - | 917.01 Mn |
| 10 | Covenant Logistics | 870.93 Mn | 868.31 Mn | 320.47 Mn | 324.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 324.03 Mn |
| Mar 31, 2026 | 300.88 Mn |
| Sep 30, 2025 | 841.98 Mn |
| Jun 30, 2025 | 553.02 Mn |
| Mar 31, 2025 | 261.73 Mn |
| Sep 30, 2024 | 818.00 Mn |
| Jun 30, 2024 | 546.35 Mn |
| Mar 31, 2024 | 274.43 Mn |
| Dec 31, 2023 | 259.72 Mn |
| Sep 30, 2023 | 273.58 Mn |
| Jun 30, 2023 | 262.23 Mn |
| Mar 31, 2023 | 249.22 Mn |
| Dec 31, 2022 | 285.15 Mn |
| Sep 30, 2022 | 60.86 Mn |
| Jun 30, 2022 | 290.50 Mn |
| Mar 31, 2022 | 267.74 Mn |
| Dec 31, 2021 | 275.99 Mn |
| Sep 30, 2021 | 254.48 Mn |
| Jun 30, 2021 | 237.99 Mn |
| Mar 31, 2021 | 210.38 Mn |