Benzinga | Oct 19, 2021 10:16AM EDT

Earnings Preview: Covenant Logistics Group

Covenant Logistics Group(NASDAQ:CVLG) is set to give its latest quarterly earnings report on Wednesday, 2021-10-20. Here's what investors need to know before the announcement.

Analysts estimate that Covenant Logistics Group will likely report an Earnings Per Share (EPS) of $1.02

Covenant Logistics Group bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Past Earnings Performance

Last quarter the company beat on EPS by $43.28, which was followed by a 3.86 increase in the share price the next day.

Here's a look at Covenant Logistics Group's past performance and the resulting price change:

Quarter Q2 2021 Q1 2021 Q4 2020 Q3 2020EPS Estimate 0.67 0.36 0.61 0.54EPS Actual 0.96 0.56 0.61 0.56Revenue Estimate 225.27M 206.15M 228.07M 209.55MRevenue Actual 256.32M 220.89M 225.23M 210.83M

Stock Performance

Shares of Covenant Logistics Group were trading at $32.84 as of October 18. Over the last 52-week period, shares are up 81.3%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

To track all upcoming earnings announcements, click here to use Benzinga Earnings Calendar.