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Dec 31, 2019
Radiant Logistics Q2 2020 Earnings Report
Radiant Logistics experienced industry-wide headwinds, with revenues and earnings generally flat compared to the prior quarter and down compared to the prior year quarter's record results.
Key Takeaways
Radiant Logistics reported revenues of $201.9 million and adjusted EBITDA of $9.4 million for the second fiscal quarter ended December 31, 2019. The company faced challenges including non-recurring disaster relief project work in the prior year, exiting lower margin business, and market softness due to slower global trade and margin pressures.
Revenues were reported at $201.9 million, down 12.6% year-over-year excluding non-recurring project revenues from the previous year, but up 0.7% sequentially.
Net revenues were reported at $56.0 million, down 7.3% year-over-year excluding non-recurring net revenues, but up 0.9% sequentially.
Net income attributable to common stockholders was reported at $2.6 million, or $0.05 per share.
Adjusted EBITDA was reported at $9.4 million, reflecting market headwinds and strategic decisions.
Forward Guidance
Radiant Logistics remains committed to its strategy of profitable growth through organic and acquisition initiatives, investing in technology and sales resources, and utilizing its stock buy-back program for capital allocation.
Positive Outlook
- Continuing to invest in technology platform and incremental sales resources to drive organic growth.
- Maintaining low leverage on the balance sheet.
- Generating strong free cashflow.
- Continuing disciplined search for additional acquisition opportunities.
- Stock buy-back program will remain an integral part of how we think about capital allocation, acquisition multiples and the use of our free cashflow.
Challenges Ahead
- The non-recurring disaster relief project work reported in the year ago period.
- Decision to exit certain lower margin business earlier in calendar 2019.
- General market softness associated with slower global trade.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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