Covenant Logistics Group raised rates multiple times last quarter and expects to do so again next year, CEO David Parker said on a Q3 earnings call last month.
While some customers might balk at an immediate 5% increase, the carrier will propose a 2% to 3% increase in the current bid season and another 2% to 3% increase in the second half of next year, Parker said.
“Can I go overall and say, here’s 5%? I’m not sure that you can,” he said. “I do believe that we can get 2%-3% now and say, let’s look at it in the summer. ... That’s what we’re hitting the road hoping to obtain.”
