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Jun 30, 2024
Radiant Logistics Q4 2024 Earnings Report
Radiant Logistics' Q4 2024 financial results reflected sequential quarterly improvement and strategic acquisitions, while navigating challenging freight markets.
Key Takeaways
Radiant Logistics reported Q4 2024 revenues of $206.0 million, a decrease of 11.3% compared to the prior year, but an increase of 11.6% sequentially. Net income attributable to Radiant Logistics was $4.8 million, or $0.10 per share, up 54.8% year-over-year. The company completed multiple acquisitions and maintained a strong balance sheet with $24.9 million in cash and no debt.
Revenues decreased by 11.3% year-over-year to $206.0 million but increased 11.6% sequentially.
Net income attributable to Radiant Logistics increased 54.8% year-over-year to $4.8 million, or $0.10 per share.
Adjusted EBITDA was $9.1 million, a slight decrease of 1.1% compared to the prior year.
The company completed acquisitions of Cascade Transportation, DVA Associates and Foundation Logistics.
Radiant Logistics
Radiant Logistics
Forward Guidance
The company is focused on delivering profitable growth through organic and acquisition initiatives. It continues to look for green-field acquisition opportunities where it finds opportunities that bring critical mass to its current platform with respect to geography, purchasing power and targeted industry segments.
Positive Outlook
- Positioned to navigate through slower freight markets.
- Focused on profitable growth through organic and acquisition initiatives.
- Strong balance sheet.
- Agent station conversions.
- Synergistic tuck-in acquisitions.
Challenges Ahead
- Difficult freight markets being experienced by the entire industry.
- Tough year over year comparisons.
- Potential adverse legal, reputational and financial effects on the Company resulting from the cybersecurity incident that we reported in March 2024 or future cyber incidents and the effectiveness of the Company’s business continuity plans in response to cyber incidents
- Commercial, reputational and regulatory risks to our business that may arise as a consequence of our inability to remediate during fiscal year 2024 a material weakness in our internal controls over financial reporting, and the further risks that may arise should we be unable to remediate that material weakness during fiscal year 2025
- Continued disruptions in the global supply chain