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, Inc. announced its financial results for the third fiscal quarter ended March 31, 2024. Despite a decrease in revenues and gross profit compared to the prior year, the company reported positive adjusted net income and EBITDA. The acquisition of strategic partners and the stock buy-back further strengthen the company's position for future growth.
Radiant Logistics, Inc. will host an investor call on May 9, 2024, to discuss the financial results for the third fiscal quarter ending March 31, 2024. The call will be open to individual investors and press, featuring Founder and CEO Bohn Crain as the host.
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