CVLG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Our second quarter earnings were $0.32 per diluted share, with constructive changes made on the revenue side of the business, but disappointing costs in the quarter. Our strategy remains to pursue durable margin improvement during the current freight market upcycle through committed contracts that p…

• We were pleased with the recent progress in our top-line results, despite incurring higher costs to serve our customers. Based on our growing pipeline of customer demand, we expect our fleet count to stabilize, our fleet percentage under dedicated and committed capacity contracts to grow, and our ma…

• The increase in total revenue for the three months ended June 30, 2026 compared to 2025 primarily resulted from a $22.0 million, $3.9 million, and $1.1 million increase in freight revenue for Managed Freight, Dedicated, and Warehousing, respectively, partially offset by a $9.5 million decrease in fr…

• On a cents per mile basis, insurance and claims increased to 31.3 cents per mile and 26.3 cents per mile for the three and six months ended June 30, 2026, respectively, compared to 25.1 cents per mile and 24.5 for the 2025 periods, respectively, primarily due to decreased miles compared to the same …

• For the six months ended June 30, 2026 the decrease in Expedited revenue relates to a decrease of 13.8% in average total tractors compared to the 2025 period partially offset by a $3.9 million increase in fuel surcharge revenue. Average freight revenue per tractor per week increased 3.3% compared to…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Our first quarter earnings were $0.17 per diluted share, falling short of our expectations, largely as a result of severe weather shutdowns and fuel cost headwinds in January and February. However, freight volumes and rates improved in March, and we are encouraged by our positive operating performan…

• Leverage ratio (ending total indebtedness, comprised of debt and finance leases, net of cash, divided by the sum of operating income, depreciation and amortization, gain on disposition of property and equipment, net, and impairment of long lived property and equipment) as of March 31, 2026 was 2.37;

• Solid economic demand and shrinking industry-wide driver capacity are creating a favorable environment for building project pipelines and improving yield and revenue per tractor. With most of our revenue under contracts ranging from one to three years in duration, we expect to see gradual improvemen…

• Our plan for the remainder of 2026 is to improve yields and reallocate assets to operations that improve our margins and returns. Based on a rapidly growing pipeline of customer demand, we expect to make significant progress assuming the current market momentum continues.

• The increase in total revenue for the three months ended March 31, 2026 compared to 2025 primarily resulted from a $33.9 million, $9.0 million, and $3.5 million increase in freight revenue for Managed Freight, Dedicated, and Warehousing, respectively, partially offset by an $8.3 million decrease in …

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Litigation may adversely affect our business, financial condition, and results of operations.

• Our business is subject to the risk of litigation by employees, independent contractors, customers, vendors, government agencies, stockholders, and other parties through private actions, class actions, administrative proceedings, regulatory actions, and other processes. Recently, trucking companies,…

• The outcome of litigation, particularly class action lawsuits and regulatory actions, is difficult to assess or quantify, and the magnitude of the potential loss relating to such lawsuits may remain unknown for substantial periods of time. The cost to defend litigation may also be significant. Not a…

• In addition, we may be subject, and have been subject in the past, to litigation resulting from trucking accidents. The number and severity of litigation claims may be worsened by distracted driving by both truck drivers and other motorists. These lawsuits have resulted, and may result in the future…

• In the Montgomery v. Caribe Transport II, LLC case, decided in May 2026, the United States Supreme Court (the "Supreme Court") determined that the Federal Aviation Administration Authorization Act does not preempt state law liability claims against freight brokers. As a result of the Supreme Court d…