Covenant’s First-Quarter Loss Narrows

Covenant Transportation Group’s first-quarter loss narrowed from a year ago to $2.2 million, or 15 cents a share, from a loss of $5.5 million, or 39 cents, a year ago.

Revenue rose 13.6% to $152 million, while Freight revenue gained 5.9% to $129.3 million, the truckload carrier said late Wednesday.

The company reported operating income of $1.8 million, compared with an operating loss of $5.1 million last year.

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