Covenant Logistics Group CVLG is scheduled to report second-quarter 2021 results on Jul 21, after market close.The company’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average being 120.6%. The Zacks Consensus Estimate for second-quarter earnings per share has increased 4.9% to 64 cents over the past 60 days.Covenant Logistics Group, Inc. Price and EPS Surprise Covenant Logistics Group, Inc. price-eps-surprise | Covenant Logistics Group, Inc. QuoteAgainst this backdrop, let’s discuss the factors that might have impacted Covenant Logistics’ performance in the June quarter.We expect Covenant Logistics’ second-quarter 2021 performance to have been aided by the improved freight market conditions in the United States. The ramp-up in economic activities in the country courtesy of widespread vaccination boosted the freight market. This, in turn, is likely to have contributed to freight revenues in the quarter to-be-reported.The company’s cost-control efforts are likely to have aided its bottom line in the June quarter. Mainly owing to this cost discipline, the adjusted operating ratio (operating expenses as a % of revenues) is likely to have improved sequentially in the to-be-reported quarter.Alike the last few quarters, the Dedicated segment is likely to have underperformed in the June quarter. Headwinds like inefficiencies from re-engineering or replacing certain contracts and driver shortage are likely to have weighed on the company’s second-quarter performance.What Does the Zacks Model Unveil?The proven Zacks model predicts an earnings beat for Covenant Logistics this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive earnings surprise. You can see the complete list of today’s Zacks #1 Rank stocks here.Earnings ESP: Covenant Logistics has an Earnings ESP of +4.69.%. The Most Accurate Estimate is currently pegged at 67 cents, 3 cents higher than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Covenant Logistics carries a Zacks Rank #3, currently.Highlights of Q1Covenant Logistics’ first-quarter earnings per share (excluding 9 cents from non-recurring items) of 56 cents beat the Zacks Consensus Estimate of 32 cents. The bottom line surged 722% year over year.Other Stocks to ConsiderInvestors interested in the broader Transportation sector may also consider Southwest Airlines LUV, Herc Holdings HRI and Alaska Air Group ALK as these stocks too possess the right combination of elements to beat on earnings this reporting cycle.Southwest Airlines has an Earnings ESP of +11.32% and is Zacks #3 Ranked, presently. The company will release second-quarter 2021 results on Jul 22.Herc Holdings has an Earnings ESP of +1.85% and a Zacks Rank #2 at present. The company will release second-quarter 2021 results on Jul 22.Alaska Air has an Earnings ESP of +23.77% and is currently a #3 Ranked player. The company will release second-quarter 2021 results on Jul 22. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Herc Holdings Inc. (HRI): Free Stock Analysis Report Covenant Logistics Group, Inc. (CVLG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research