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Covenant COVENANT LOGISTICS GROUP ANNOUNCES SECOND QUARTER FINANCIAL AND OPERATING RESULTS CHATTANOOGA , TENNESSEE July 21st , 2021 Covenant Logistics Group , Inc. ( NASDAQ / GS : CVLG ) ( “ Covenant " or the " Company " ) announced today financial and operating results for the second quarter ended June 30 , 2021. The Company's live conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday , July 22nd , 2021 . Chairman and Chief Executive Officer , David R. Parker , commented : " We were pleased to report second quarter earnings of $ 0.91 per share and adjusted earnings of $ 0.96 per share , which are the highest earnings for any quarter in the Company's history . Although we are pleased with these results , we recognize the opportunity for further improvement , particularly in our Dedicated segment . In the short run , this means continuing to improve rates and contractual terms with customers who are not yielding the level of consistent profit we expect from this segment of the business , and in the long run , this means holding ourselves accountable for improved margins and returns across all aspects of our business . " In the second quarter , we saw freight market demand firing on all cylinders as a result of growing economic activity , low inventories , and supply chain disruptions , accompanied by constrained supply due to an intensifying national driver shortage . These conditions have continued into the third quarter . The full impact of these factors on our operating statistics year over - year is complicated by changes in business mix due to downsizing our refrigerated fleet and solo tractor count in the Expedited business . We expect year - over - year comparability to be clearer in the second half of 2021 . " From a segment standpoint , for the second quarter , our Expedited and Managed Freight service offerings have continued to exceed our expectations through improvements in equipment utilization , rates and an exceptionally strong spot rate market , while our Warehousing segment continued to operate consistently . Our Dedicated segment improved slightly from the first quarter of the year but continued to operate at a level well below our expectations primarily due