The August sale of the Covenant Transport headquarters complex in Lookout Valley was the biggest real estate sale in Hamilton County during 2015.Chattanooga-based Covenant Transportation Group reported fourth quarter earnings this week, with a total revenue of $208.1 million and freight revenue of $191.1 million.
Both are increases over 2014.
Covenant also reported an operating income of $24.3 million in the quarter.
The trucking firm’s net income in the fourth quarter of 2015 was $13.2 million, or 73 cents per diluted share, compared to $13.5 million, or 82 cents per diluted share, a year ago. Company officials said the quarter saw an average 2.9 percent increase in freight revenue per truck in the last quarter of the year, which is typically the busiest and best of the year.
The company’s year-end revenue was up 7 percent over 2014, to $724.2 million. Covenant reported net income of $42 million, or $2.30 per diluted share, in all of 2015.
Company officials will discuss the quarter in a conference call at 11 a.m. today.