Covenant Transportation Group, Inc. - 1stQuarter 2019 Financial Statistics

Last year information is either: 1) the average for the first quarter or 2) the end of the quarter of March 31, 2018.

Fleet Information

•Teams - averaged 863 teams (or 27.7% of total fleet) during the quarter versus 894 (or 34.9% of total fleet) last year

•Average age of tractors - 2.3 years versus 2.1 years last year

•Average age of trailers - 3.9 years versus 3.3 years last year

•Owner operators - Ended the quarter with 315 and averaged 314 - accounted for 12.6% of the miles this quarter versus 11.0% of the miles last year

•Open trucks, including wrecks - Averaged 5.4% this quarter versus 6.2% last year

Balance Sheet and Cash Flow Information

•Cash flow from operations - $9.2 million versus $36.7 million last year

•Capital expenditures, net of proceeds from dispositions - approximately $33.5 million during the quarter

•Cash and cash equivalents - $31.0 million versus $23.1 million at 12/31/18

•Average receivable days outstanding - 34.6 days versus 33.6 days at 12/31/18

•Available borrowing capacity under our revolving credit facility - $32.0 million versus $57.7 million at 12/31/18

•Total indebtedness on various debt instruments, net of cash - $279.0 million versus $254.5 million at 12/31/18

•Total indebtedness, net of cash to total capitalization ratio-44.5% versus 42.6% at 12/31/18

•Tangible book value per basic share - $14.94 versus $14.65 at 12/31/18

Other Information

•Revenue equipment rental expense - $5.4 million during the quarter compared to $2.9 million last year

•Total truck miles increased 6.7% versus a year ago while total average trucks increased 21.9% versus a year ago

•Deadhead percentage - 10.0% versus 9.2% last year

•Average length of haul - 621 miles during the quarter versus 854 miles last year

Operating Subsidiary Information

Average

Avg Truck Change

Length of

1stQuarter 2019 Percent of

Revenue Change

Trucks

Vs. Q1-2018

Haul

Asset-Based Freight Revenue

Vs. Q1-2018

Covenant Transport

1,336

3%

947

53%

(6%)

SRT

890

4%

732

24%

2%

Star Transportation

460

14%

861

10%

13%

Landair

435

174

13%

Attachments

  • Original document
  • Permalink

Disclaimer

Covenant Transportation Group Inc. published this content on 25 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2019 22:22:10 UTC