Covenant Logistics Group (Covenant Logistics Group) Change In Receivables : $-22 Mil (TTM As of Dec. 2023)

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What is Covenant Logistics Group Change In Receivables?

Covenant Logistics Group's change in receivables for the quarter that ended in Dec. 2023 was $2 Mil. It means Covenant Logistics Group's Accounts Receivable declined by $2 Mil from Sep. 2023 to Dec. 2023 .

Covenant Logistics Group's change in receivables for the fiscal year that ended in Dec. 2023 was $-22 Mil. It means Covenant Logistics Group's Accounts Receivable increased by $22 Mil from Dec. 2022 to Dec. 2023 .

Covenant Logistics Group's Accounts Receivable for the quarter that ended in Dec. 2023 was $143 Mil.

Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed. Covenant Logistics Group's Days Sales Outstanding for the three months ended in Dec. 2023 was 47.46.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Covenant Logistics Group's liquidation value for the three months ended in Dec. 2023 was $-439 Mil.

Covenant Logistics Group Change In Receivables Historical Data

The historical data trend for Covenant Logistics Group's Change In Receivables can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Covenant Logistics Group Change In Receivables Chart

Covenant Logistics Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Change In Receivables

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-6.71

-60.85

-36.54

39.47

-22.42

Covenant Logistics Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Change In Receivables	Get a 7-Day Free Trial															2.86	-16.09	-11.34	2.15	-

Covenant Logistics Group Change In Receivables Calculation

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.

Change In Receivables for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-22 Mil.

Covenant Logistics Group (NAS:CVLG) Change In Receivables Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed.

Covenant Logistics Group's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	142.504	/	273.985	*	91
=	47.46

2. In Ben Graham's calculation of liquidation value, Covenant Logistics Group's accounts receivable are only considered to be worth 75% of book value:

Covenant Logistics Group's liquidation value for the quarter that ended in Dec. 2023 is calculated as:

	Liquidation Value
=	Cash, Cash Equivalents, Marketable Securities	-	Total Liabilities	+	(0.75 * Accounts Receivable)	+	(0.5 * Total Inventories)
=	2.294	-	551.018	+	0.75 * 142.504	+	0.5 * 4.848
=	-439

Covenant Logistics Group Change In Receivables Related Terms

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Covenant Logistics Group (Covenant Logistics Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Covenant Logistics Group Inc (NAS:CVLG) » Definitions » Change In Receivables

Comparable Companies

Traded in Other Exchanges

CV5:Germany

Address

400 Birmingham Highway, Chattanooga, TN, USA, 37419

Website

https://www.covenantlogistics.com

Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Executives

Joey B Hogan	officer: Exec Vice President and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Wesley Miller Welborn	director	6401 LEE HIGHWAY, STE B, CHATTANOOGA TN 37421
Benjamin Sr Carson	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Samuel F Hough	officer: EVP - Expedited	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Lynn Doster	officer: EVP - Dedicated & Warehousing	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Paul Bunn	officer: President, COO, and Secretary	COVENANT TRANSPORTATION GROUP, INC., 400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Rachel Parker-hatchett	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Herbert J Schmidt	director	1950 LAKE RIDGE DRIVE, THE VILLAGES FL 32162
Grant James S Iii	officer: EVP and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Joey Ballard	officer: EVP, People and Safety	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
D Michael Kramer	director	P O BOX 868, EVANSVILLE IN 47705-0868
George S. Yates	officer: SVP - Brokerage	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Tracy L. Rosser	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Bradley A Moline	director	610 BROADWAY, IMPERIAL NE 69033
Robert E Bosworth	director	LIVINGSTON COMPANY & SOUTHPORT CAPITAL, ONE UNION SQUARE, SUITE 300, CHATTANOOGA TN 37402