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Sep 30, 2020
Radiant Logistics Q1 2021 Earnings Report
Radiant Logistics reported solid financial results, effectively mitigating the financial impact of COVID-19 through cost-saving measures and strategic initiatives.
Key Takeaways
Radiant Logistics reported revenues of $175.9 million and net income of $3.1 million, or $0.06 per share for the quarter ended September 30, 2020. The company mitigated the negative financial impact of COVID-19 through cost-saving and strategic initiatives.
Revenues reported at $175.9 million, compared to $200.5 million for the comparable prior year period.
Net income reported at $3.1 million, or $0.06 per basic and fully diluted share, compared to $3.2 million, or $0.07 per basic and $0.06 per fully diluted share for the comparable prior year period.
Adjusted net income reported at $6.5 million, or $0.13 per basic and fully diluted share, consistent with the comparable prior year period.
Adjusted EBITDA reported at $9.2 million, compared to $9.7 million for the comparable prior year period.
Radiant Logistics
Radiant Logistics
Forward Guidance
The company is optimistic about the economy, its ultimate recovery, and the opportunities it will present for Radiant. They will continue to closely monitor the economy and look forward to re-engaging in acquisition opportunities and/or stock buy-back activities as opportunities arise.
Positive Outlook
- Seeing slow and steady improvement across many industry verticals.
- Broad-based tightening of capacity heading into peak season.
- Diversity of customers and service offerings.
- Strength of balance sheet.
- Scalability of technology and extensive carrier-partner network.
Challenges Ahead
- Overall demand for transportation services has been significantly impacted.
- Impacts of the COVID-19 pandemic.
- Dependence on current management.
- Dependence on certain of our larger strategic operating partners.
- Global economic climate and additional or unforeseen effects from the COVID-19 pandemic.