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Covenant COVENANT LOGISTICS GROUP ANNOUNCES THIRD QUARTER FINANCIAL AND OPERATING RESULTS CHATTANOOGA , TENNESSEE October 20th , 2021 Covenant Logistics Group , Inc. ( NASDAQ / GS : CVLG ) ( “ Covenant " or the " Company " ) announced today financial and operating results for the third quarter ended September 30 , 2021. The Company's live conference call to discuss the quarter will be held at 10:00 A.M. Eastern Time on Thursday , October 21st , 2021 . Chairman and Chief Executive Officer , David R. Parker , commented : " We were pleased to report third quarter earnings of $ 0.97 per share and non - GAAP adjusted earnings of $ 1.02 per share ( ¹ ) , the highest earnings for any quarter in the Company's history . Based on our current run - rate , we expect to generate over $ 1 billion in revenue and the highest annual earnings per share in our history during 2021. Despite these achievements , we remain focused on further improving our profitability , particularly in our Dedicated segment , which fell short of our expectations for the quarter . “ In the third quarter we experienced the continuation of an exceptionally strong freight market resulting from growing economic activity , low inventories , and supply chain disruptions , accompanied by constrained capacity due to an intensifying national driver shortage . These conditions have continued into the fourth quarter . " From a segment standpoint , 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 . Our Dedicated segment fell short of our expectations by failing to improve sequentially from the second quarter . Although we have been successful in securing improved rates within this segment , the continuation of supply chain disruptions with certain of our key customers along with inflation in cost per mile prevented us from achieving the desired improvements to profitability . We are continuing to address these issues with our customers through contract revisions and have given exit notice to certain customers where our