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Jun 30, 2023
Radiant Logistics Q4 2023 Earnings Report
Radiant Logistics navigated a slower freight environment and generated a record $97.9 million in cash from operations for FYE June 30, 2023.
Key Takeaways
Radiant Logistics reported Q4 2023 results with net income attributable to Radiant Logistics, Inc. of $3.1 million on revenues of $232.2 million, or $0.07 per basic and $0.06 per fully diluted share. The company generated a record $97.9 million in cash from operations for the fiscal year ended June 30, 2023 and is debt free and well positioned for future growth.
Revenues for the quarter were $232.2 million, compared to $382.9 million for the three months ended June 30, 2022.
Net income attributable to Radiant Logistics, Inc. for the quarter was $3.1 million, or $0.07 per basic and $0.06 per fully diluted share.
Adjusted net income for the quarter was $6.5 million, or $0.14 per basic and $0.13 per fully diluted share.
Adjusted EBITDA for the quarter was $9.2 million, compared to $26.4 million for the comparable prior year period.
Forward Guidance
The company is focused on delivering profitable growth through a combination of organic and acquisition initiatives and thoughtfully re-levering the balance sheet through agent station conversions, synergistic tuck‑in acquisitions, and stock buy‑backs.
Positive Outlook
- Company is in the strongest financial position in its history.
- Approximately $32.5 million of cash on hand and nothing drawn on $200.0 million credit facility.
- Well positioned to navigate through slower freight markets.
- Patience and discipline may be rewarded as market conditions become more conducive to acquisition strategy.
- Ample dry powder to become more active on the acquisition front should the opportunity present itself.
Challenges Ahead
- Macro-economic effects of the difficult freight markets on the entire industry.
- Shippers continuing to manage through elevated inventories.
- Reduced imports and slowing economic growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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