Covenant’s Second-Quarter Profit Declines

Covenant Transportation Group’s second-quarter net income declined to $1.9 million, or 13 cents per share, from $4.3 million, or 29 cents, a year earlier.

Revenue increased 0.7% to $172.5 million. Freight revenue increased 2% to $136.9 million.

Operating income fell to $6.4 million, from $11.1 million, the truckload carrier said.

Covenant Transportation Group is ranked No. 41 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.