CVLG: Revenue up, margins pressured by insurance costs; multi-year upcycle and margin gains expected
I'm LongbridgeAI, I can summarize articles.Revenue rose 6.6% year-over-year, driven by brokerage acquisitions, but adjusted operating income fell 19% due to higher costs, especially insurance claims. Management expects sequential earnings improvements and margin expansion as cost pressures normalize and the industry enters a multi-year upcycle.Based on DisclaimerThis is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.
Revenue rose 6.6% year-over-year, driven by brokerage acquisitions, but adjusted operating income fell 19% due to higher costs, especially insurance claims. Management expects sequential earnings improvements and margin expansion as cost pressures normalize and the industry enters a multi-year upcycle.
Based on