Welcome to our dedicated page for Radiant Logistics news (Ticker: RLGT), a resource for investors and traders seeking the latest updates and insights on Radiant Logistics stock.
Radiant Logistics, Inc. (NYSE MKT: RLGT) operates as a non-asset-based third-party logistics provider, encompassing several brands including Radiant Global Logistics, Wheels Group Inc, Adcom Worldwide, Airgroup, On Time Express, Distribution by Air, Service by Air Inc., and its minority business affiliate Radiant Logistics Partners. The company services a diversified client base comprising manufacturers, distributors, and retailers. Leveraging a network of independent carriers and international agents strategically located worldwide, Radiant Logistics offers comprehensive logistics solutions.
Core Services:
- Domestic: Airfreight services such as NFO, same day, next day AM or PM, standard (2-day), economy (3-day), and insurance options. Ground services include time-definite LTL, FTL, rollerbed, flatbed, lift gate, air ride, refrigerated, hot shot, and pool distribution.
- Specialized: Oversized, intermodal transport.
Radiant Logistics stands out as one of North America's fastest-growing logistics networks, boasting nearly 100 domestic stations and a continually expanding international presence.
Recent Achievements:
- Promotion of Jaime Becker: On January 9, 2024, Jaime Becker was promoted to Senior Vice President and General Counsel, bringing over a decade of experience in supporting diverse industries including technology, logistics, construction, and oil and gas.
- Acquisitions: The company acquired Select Logistics, Inc. and Select Cartage, Inc. in February 2024, Viking Worldwide, Inc. in April 2024, Cascade Transportation, Inc. in June 2024, and DVA Associates, Inc. also in June 2024. These acquisitions bolster Radiant's presence and capabilities in key geographic locations.
- Stock Buy-Back: As of March 31, 2024, Radiant has purchased 532,401 shares of its common stock at an average cost of $5.79 per share, amounting to a total of $3.1 million.
Financial Highlights:
- For the quarter ended December 31, 2023, Radiant reported $201.1 million in revenues with a net income of $1.0 million. Adjusted EBITDA for the same period was $7.7 million.
- For the nine months ended March 31, 2024, the company achieved revenues of $596.4 million and net income of $2.9 million, with adjusted EBITDA reaching $22.1 million.
Radiant continues to enhance its logistics services, supported by a robust technology platform, extensive purchasing power, and a global network, ensuring comprehensive solutions for domestic, international, and U.S.-Mexico cross-border freight forwarding and logistics services.
Visit Radiant Logistics for more details.
Radiant Logistics (NYSE American: RLGT) reported financial results for the first fiscal quarter ended September 30, 2024. Revenues were $203.6 million, down 3.4% year-over-year. Gross profit declined 5.9% to $54.1 million. Adjusted gross profit was $57.6 million, down 5.3%. Net income rose 30.8% to $3.4 million, or $0.07 per share. Adjusted net income increased 21.5% to $7.9 million, or $0.17 per share. Adjusted EBITDA grew 3.3% to $9.5 million, with an adjusted EBITDA margin of 16.4%.
Radiant acquired Foundation Logistics & Services and Focus Logistics, continuing its strategy of growth through acquisitions. The company also executed a stock buyback, purchasing 129,360 shares. Radiant maintains a strong balance sheet with $10 million cash on hand and a $200 million credit facility.
Radiant Logistics (NYSE American: RLGT) has announced a conference call scheduled for Tuesday, November 12, 2024, at 4:30 PM Eastern to discuss their financial results for the first fiscal quarter ended September 30, 2024. The call will be hosted by Founder and CEO Bohn Crain and is open to all interested parties.
The conference call can be accessed via US dial-in (877) 545-0320 or International (973) 528-0002 with Participant Access Code 321205. A replay will be available from November 13 to November 26, 2024. The call will also be webcast through Radiant's website.
Radiant Logistics, Inc. (NYSE American: RLGT) has acquired Focus Logistics, Inc., a Michigan-based company operating under Radiant's Service By Air brand since 2006. The transaction is structured with a portion of the purchase price based on future performance. Focus, founded in 2003, provides domestic and international freight forwarding services for various industries.
Post-acquisition, Focus will transition to the Radiant brand and merge with existing Detroit operations under Cliff Kisielewski's leadership as General Manager. Terrie Evans, co-founder, will retire after 30 years in the transportation industry. This acquisition aligns with Radiant's strategy of partnering with logistics entrepreneurs and providing them with a built-in exit strategy.
Radiant Logistics (NYSE American: RLGT) reported financial results for Q4 and FY 2024. Key highlights include:
- Q4 revenues of $206.0M, down 11.3% YoY but up 11.6% sequentially
- Q4 net income of $4.8M ($0.10 per share), up 54.8% YoY
- Q4 adjusted EBITDA of $9.1M, down 1.1% YoY but up 75% sequentially
- FY2024 revenues of $802.5M, net income of $7.7M
- Completed five tuck-in acquisitions during FY2024
- Ended Q4 with $24.9M cash and no debt drawn on $200M credit facility
CEO Bohn Crain noted sequential improvement in Q4 results and the company's strong balance sheet positioning it for future growth as market conditions normalize.
Radiant Logistics (NYSE American: RLGT) has appointed Laurent Grousseau as its new Senior Vice President and Chief Technology Officer (CTO). With over 30 years of experience in the transportation and logistics industry, Grousseau will lead the company's information systems enhancement and support the migration of acquired companies to common applications, including the deployment of Navegate, Radiant's proprietary global trade management platform.
Grousseau, 56, previously served as CIO of Pilot Freight Services and held senior roles at CEVA Logistics and Kuehne + Nagel. He will report to Founder and CEO Bohn Crain, who praised Grousseau's technical, interpersonal, and managerial skills. Grousseau expressed interest in advancing the Navegate platform and exploring emerging technologies to scale Radiant's operations and deliver customer value.
Radiant Logistics (NYSE American: RLGT) has acquired Foundation Logistics & Services, a Texas-based company specializing in transportation and logistics for the oil and gas industry. The acquisition strengthens Radiant's capabilities in supporting the oil and gas sector, particularly in handling hazardous materials and urgent oilfield equipment. Foundation, founded in 2014, will continue operating under its current name before transitioning to the Radiant brand in 2025. The deal structure includes performance-based payments in subsequent periods. This strategic move expands Radiant's service offerings and geographical presence, particularly in the Humble, Texas area, which holds personal significance for Radiant's CEO, Bohn Crain.
Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics services company, has announced a conference call scheduled for Thursday, September 12, 2024, at 4:30 PM Eastern. The call will discuss the company's financial results for the fourth fiscal quarter and year ended June 30, 2024. Founder and CEO Bohn Crain will host the call, which is open to all interested parties, including individual investors and press.
The conference call can be accessed via dial-in numbers for US and international participants, with a participant access code provided. A replay of the call will be available from September 13, 2024, to September 26, 2024. Additionally, the call will be webcast and can be accessed through Radiant's website or a direct webcast link.
Radiant Logistics (NYSE American: RLGT) has been awarded a 5-year contract by USAID to provide global transportation services for personnel and emergency disaster equipment. This contract, through Radiant's subsidiary Radiant Global Logistics, Inc., is for the Bureau of Humanitarian Assistance.
The company has a proven track record in critical missions, including support following the earthquake in Türkiye and cyclone in Vanuatu. Radiant's expertise lies in heavy lift air chartering, special projects, and disaster response logistics, enabling rapid deployment of personnel and lifesaving equipment into complex environments.
As a prime contractor, Radiant will be responsible for transporting personnel, emergency disaster equipment, cargo, and service animals worldwide over the next five years.
Radiant Logistics (NYSE American: RLGT) has acquired DVA Associates, a Portland-based transportation and logistics company. This acquisition will enhance Radiant's presence in the Portland market and integrate DVA's operations under Danielle Van Auken's leadership. Founded in 1984, DVA serves diverse industries like footwear and apparel. The transaction structure includes future performance-based payments. Radiant, currently debt-free with a $200 million credit facility, aims to leverage DVA's strengths and its own network to provide additional value and growth opportunities. Radiant's CEO, Bohn Crain, emphasized the strategic importance of this acquisition in building market density and capturing incremental revenue and cost synergies.
Radiant Logistics, a provider of global transportation and logistics solutions, announced the acquisition of Seattle-based Cascade Transportation. Cascade offers domestic and international transportation services and has been operational since 1982. The transaction is structured with a portion of the purchase price payable based on future performance. Cascade will operate under Radiant Global Logistics (RGL-SEA) post-acquisition, retaining its current leadership. The acquisition is aligned with Radiant's strategy to support logistics entrepreneurs and expand its market presence.
FAQ
What is the current stock price of Radiant Logistics (RLGT)?
What is the market cap of Radiant Logistics (RLGT)?
What services does Radiant Logistics offer?
What recent acquisitions has Radiant Logistics made?
Who is the current General Counsel at Radiant Logistics?
What are Radiant Logistics' core business segments?
How does Radiant Logistics support the cruise industry?
What is Radiant's strategic approach to growth?
How many shares has Radiant Logistics bought back recently?
What is Radiant Logistics' financial condition?
Where can I find more information about Radiant Logistics?
What technology does Radiant Logistics use?
