Covenant to Take Modest Loss or Break Even in 4Q

Truckload carrier Covenant Transportation Group said Wednesday it expects to report break-even to a net loss of 10 cents per share for the fourth quarter.

Those results would be “significantly better than our forecast at the beginning of the quarter,” Chief Executive Officer David Parker said in a statement.

The carrier said its average revenue per tractor per week is about 2% above its forecast, and that cost-control measures are helping its bottom line.

Covenant is ranked No. 38 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.