Covenant Reports Larger First-Quarter Loss

Covenant Transportation Group reported a first-quarter loss of $2.5 million, or 17 cents per share, compared with a loss of $2.2 million, or 15 cents, a year earlier.

Revenue rose 2.9% to $156.4 million, from $152 million. Freight revenue fell 3.8% to $124.4 million, the truckload carrier said in a statement.

The company had an operating income of $301,000, compared with $1.8 million last year.

Covenant Transportation Group is ranked No. 37 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.