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. (NYSE American: RLGT) has authorized a share repurchase program for up to 5 million shares of its common stock through December 31, 2023. The company, with 49,443,305 shares outstanding as of February 1, 2022, plans to utilize existing cash balances and cash flows for these purchases. CEO Bohn Crain stated that the current share price does not reflect the company's long-term growth prospects, making this buyback an attractive investment opportunity. The timing and number of shares repurchased will depend on market conditions.
Radiant Logistics (RLGT) reported impressive financial results for the second fiscal quarter ending December 31, 2021. Revenues surged 52.1% to $332.8 million, compared to $218.8 million in the prior year. Net income rose 81.6% to $6.9 million, or $0.14 per share. Adjusted net income increased 43.0% to $12.3 million, while adjusted EBITDA climbed 38.4% to $17.3 million, improving the adjusted EBITDA margin to 24.1%. The acquisition of Navegate adds significant capabilities, enhancing Radiant's international services. The company also bought back $6.3 million in shares, reflecting confidence in its stock value.
Radiant Logistics (NYSE American: RLGT) will host a conference call on February 14, 2022 at 4:30 PM Eastern to discuss its financial results for the second fiscal quarter ended December 31, 2021. The call is open to all interested parties and will be hosted by Bohn Crain, Founder and CEO. Participants can dial in using the US number (888) 506-0062 or the international number (973) 528-0011, with the access code 124371. A replay will be available from February 15 to February 28, 2022.
Aethlon Capital has successfully advised Navegate, a logistics and supply chain management company, on its sale to Radiant Logistics (NYSE American: RLGT). The transaction, completed on December 3rd, allows Radiant to acquire all of Navegate's stock, enhancing its international services, particularly in customs brokerage and ocean forwarding. Bohn Crain, CEO of Radiant, expressed enthusiasm about this strategic acquisition, which also strengthens their presence in Shanghai. Navegate's expertise and technology will benefit Radiant's extensive network of over 100 locations across North America.
Radiant Logistics (NYSE: RLGT) has announced the acquisition of Navegate, a Minnesota-based logistics firm, for $35 million. Navegate, known for its advanced digital platform, generated about $5.9 million in normalized EBITDA on $88 million in revenue for the year ending September 30, 2021. This acquisition aims to enhance Radiant's international logistics capabilities, including customs brokerage and freight forwarding, and is expected to create cross-selling opportunities by integrating Navegate's services across Radiant's over 100 operational locations.
Radiant Logistics (RLGT) reported record financial results for Q1 FY2022 ending September 30, 2021. Revenues surged to $286.1 million, a 62.6% increase from $175.9 million Y/Y. Net income rose 129% to $7.1 million, translating to $0.14 per share. Adjusted net income hit $10.6 million ($0.21/share), showing a 63.1% growth. Adjusted EBITDA reached $14.5 million, up 57.6%, with a margin improvement of 230 basis points to 22.4%. The CEO highlighted the strong performance amid market dynamics and mentioned ongoing stock buybacks.
Radiant Logistics (NYSE American: RLGT) will host a conference call on November 9, 2021, at 4:30 PM Eastern to discuss its financial results for the quarter ending September 30, 2021. The call is open to all interested parties and will be hosted by Bohn Crain, Founder and CEO. Investors can participate via dial-in or webcast, with replay options available until November 23, 2021.
Radiant Logistics, Inc. (NYSE American: RLGT) will attend Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference on September 14, 2021. Todd Macomber, SVP and CFO, will engage in one-on-one meetings with institutional investors throughout the event. The BIG5 Conference highlights over 100 dynamic growth companies and offers a platform for direct interaction between executives and top investors. Interested parties can schedule meetings through Lake Street Capital Markets or contact Radiant Logistics directly for more information.
Radiant Logistics reported its financial results for the fiscal year ending June 30, 2021, showcasing a decrease in revenues to $257.9 million, down 6.4% year-over-year. However, excluding COVID-19 project revenues, revenues increased by 71.9%. Net income surged to a record $11.1 million, reflecting a 136.2% growth from the previous year. Adjusted net income also reached a record $10.1 million, up 13.5%. The company achieved a record adjusted EBITDA of $48.8 million for the fiscal year. CEO Bohn Crain indicated optimism about the company's growth prospects and ongoing stock buy-back initiatives.
Radiant Logistics (NYSE American: RLGT) announced participation in the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference from September 8-10, 2021. The event includes presentations and discussions on topics like Airlines, EV Charging, and Logistics. On September 10, CEO Bohn Crain will present at 3:05 p.m. Eastern Time and hold one-on-one meetings. For inquiries, contact IR@radiantdelivers.com.
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