Covenant Logistics Group, Inc. Class A (CVLG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to today's Covenant Logistics Group Q4 2025 Earnings Release and Investor Conference Call. Our host for today's call is Tripp Grant. At this time, all participants will be in the listen-only mode. Later, we will conduct a question and answer session. I will now turn the call over to your host. Mr. Grant, you may begin. Yeah, thank you, Ross. Good morning, everyone, and welcome to the Covenant Logistics Group fourth quarter 2025 conference call. As a reminder, this call will contain forward-looking statements under the Private Securities Litigation Reform Act, which are subject to risks and uncertainties that could cause actual results to differ materially. Please review our SEC filings and most recent risk factors. We undertake no obligation to publicly update or revise any forward-looking statements. All prepared comments and additional financial information are available on our website at www.covenantlogistics.com slash investors. Joining me today are CEO David Parker, President Paul Bunn, and COO Justin Kale. We're going to modify our opening comments from the usual format and address three key areas before covering the usual statistical and segment information. One, our view on the freight market. Two, the equipment impairment charge in our capital plan. And three, a small acquisition we made in the fourth quarter. The freight market. We believe the freight market continues to evolve towards equilibrium between shippers and carriers. In fact, we might be at equilibrium now. During the fourth quarter, spot rates rose meaningfully. Revenue trends during the first three weeks of January have meaningfully improved compared to the prior year in all business units. We are also experiencing a sharp increase in bid activity with shippers who are interested in sec...