A Brief History of Covenant Logistics Group, Inc. (CVLG)

Covenant Logistics Group, Inc. is a transportation and logistics company based in Chattanooga, Tennessee. The company was founded in 1985 by David Parker and Ralph Williams with just 25 trucks and a handful of trailers.

Growth and Expansion:

• Throughout the 1990s and 2000s, Covenant Logistics Group experienced significant growth and expanded its services to include truckload, expedited, dedicated, and refrigerated transportation.
• In 1994, the company went public with an initial public offering (IPO) on the NASDAQ stock exchange.

Acquisitions:

• In 2007, Covenant Logistics Group acquired Southern Refrigerated Transport, Inc., a temperature-controlled carrier, expanding its capabilities in the refrigerated transportation market.
• In 2018, the company acquired Landair Holdings, Inc., a dedicated and expedited transportation provider, further diversifying its service offerings.

Recent Developments:

• In 2020, Covenant Logistics Group announced the launch of its Team Driver program, which pairs two drivers together to increase efficiency and service levels.
• The company continues to adapt to the changing landscape of the transportation industry, investing in technology and innovation to meet customer demands.

Who Owns Covenant Logistics Group, Inc. (CVLG)

Covenant Logistics Group, Inc. (CVLG) is a publicly traded company, which means that it is owned by a combination of institutional investors and individual shareholders. As of the latest available information, the largest shareholders of Covenant Logistics Group, Inc. are institutional investors such as Vanguard Group Inc., BlackRock Inc., and Dimensional Fund Advisors LP.

Vanguard Group Inc. is the largest institutional investor in Covenant Logistics Group, Inc., owning a significant portion of the company's outstanding shares. Vanguard is known for its index funds and is one of the largest asset management firms in the world.

BlackRock Inc. is another major institutional investor in Covenant Logistics Group, Inc. BlackRock is a global investment management corporation based in the United States and is also among the largest asset managers in the world.

Dimensional Fund Advisors LP is a third significant institutional investor in Covenant Logistics Group, Inc. Dimensional Fund Advisors is a leading global asset management firm known for its quantitative investment strategies.

• Vanguard Group Inc.
• BlackRock Inc.
• Dimensional Fund Advisors LP

Covenant Logistics Group, Inc. (CVLG) Mission Statement

At Covenant Logistics Group, Inc., our mission is to be the premier provider of transportation and logistics services in North America. We are committed to delivering excellence in all aspects of our business, from customer service to safety to innovation.

Key points of our mission statement include:

• Customer Satisfaction: We strive to exceed our customers' expectations by providing reliable, efficient, and cost-effective transportation solutions.
• Employee Development: We invest in our employees by providing training, support, and opportunities for growth and advancement.
• Safety First: We prioritize the safety of our employees, customers, and the public, adhering to the highest standards of safety regulations and practices.
• Environmental Responsibility: We are committed to reducing our carbon footprint and promoting sustainability in all aspects of our operations.
• Integrity and Ethics: We conduct our business with honesty, integrity, and transparency, building trust with our stakeholders and the communities we serve.

How Covenant Logistics Group, Inc. (CVLG) Works

Covenant Logistics Group, Inc. (CVLG) is a transportation and logistics company that operates through its various subsidiaries. The company provides freight brokerage, dedicated and expedited transportation, supply chain management, and warehousing services to customers across the United States.

One of the key aspects of how CVLG works is through its freight brokerage services. This involves connecting shippers with carriers to transport goods from one location to another. CVLG acts as the intermediary, negotiating rates, managing logistics, and ensuring timely delivery of the freight.

Another important component of CVLG's operations is its dedicated transportation services. This involves providing tailored transportation solutions to customers based on their specific needs. Whether it's a dedicated fleet for a single customer or a dedicated route for a particular product, CVLG works to optimize efficiency and reduce costs for its clients.

CVLG also offers expedited transportation services for time-sensitive shipments. This may include same-day or next-day delivery options for urgent freight that needs to reach its destination quickly. By leveraging its network of carriers and resources, CVLG is able to meet tight deadlines and provide reliable expedited transportation solutions.

• Freight brokerage services
• Dedicated transportation solutions
• Expedited transportation options
• Supply chain management
• Warehousing services

In addition to its transportation services, CVLG also offers supply chain management and warehousing services to help customers streamline their operations. This includes inventory management, order fulfillment, distribution, and other value-added services to enhance supply chain efficiency.

How Covenant Logistics Group, Inc. (CVLG) Makes Money

Covenant Logistics Group, Inc. (CVLG) generates revenue through various services related to transportation and logistics. Below are some of the key ways in which the company makes money:

• Freight Transportation: One of the primary sources of revenue for CVLG is providing freight transportation services. This includes truckload transportation, expedited freight services, and dedicated contract carriage. Customers pay CVLG to transport their goods from one location to another, generating income for the company.
• Logistics Services: CVLG offers a range of logistics services to help customers streamline their supply chain operations. This includes warehousing, distribution, and supply chain management services. By charging fees for these value-added services, CVLG is able to generate additional revenue.
• Brokerage Services: In addition to providing transportation and logistics services with its own fleet of trucks, CVLG also acts as a freight broker. This means they connect customers with carriers to transport their goods. CVLG earns a commission on these transactions, adding to their revenue stream.
• Intermodal Services: CVLG also offers intermodal transportation services, which involve moving freight using multiple modes of transportation (such as truck, rail, and ship). By charging customers for these specialized services, CVLG is able to diversify its revenue sources.