Radiant LogisticsNYSE American: RLGT

RENTON, Wash. , Sept. 5, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), today announced the appointment of industry veteran Laurent Grousseau as its Senior Vice President and Chief Technology Officer ("CTO").

Strengthens Capabilities in Support of the Oil and Gas Industry RENTON, Wash. , Sept. 4, 2024 /PRNewswire/ -- Radiant Logistics, Inc. (NYSE American: RLGT), a leading provider of technology-enabled global transportation and value added logistics solutions, today announced it has acquired Foundation Logistics & Services, LLC  ("Foundation"), a Humble, Texas -based, privately held company that provides a full range of specialized transportation and logistics services for companies involved in the exploration, drilling, and production of oil and gas.

Radiant Logistics, a non-asset based 3PL service provider, has grown significantly but faces thin margins and macroeconomic risks. Despite a 24.4% revenue decline in Q3, the company managed to flex costs down, though operating income turned negative. Opportunities include M&A for market share and converting agent stations to company-owned, potentially improving margins.

In my view, the company booked a decent EBITDA of $5.5 million in Q2 FY24 amid a weak US freight market. It has often traded at 7-10x EV/EBITDA in the past decade and is starting to look cheap compared to FY18 when it had a similar EBITDA margin. In addition, the company is trading at a historically low price to tangible book value multiple of 2.8x.

Radiant Logistics, Inc. (RLGT) Q2 2024 Earnings Call Transcript

The freight market in the USA remains challenging, but Radiant Logistics' adjusted EBITDA for Q1 FY24 was unchanged thanks to an improvement in margins. RLGT's net cash position grew by $4.8 million, and this means it can continue growing through M&A even in a tough macroeconomic environment. I'm optimistic that adjusted EBITDA could be back to around $15 million by the end of FY24.

Radiant Logistics, Inc. (NYSE:RLGT ) Q1 2024 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Bohn Crain - Founder, Chairman and CEO Todd Macomber - Senior Vice President and CFO Conference Call Participants Elliot Alper - TD Cowen Mark Argento - Lake Street Capital Markets Jeffrey Kauffman - Vertical Research Partners Kevin Gainey - Thompson Davis Operator This afternoon, Bohn Crain, Radiant Logistics' Founder and CEO; and Radiant's Chief Financial Officer, Todd Macomber, will provide a general business update and discuss financial results for the company's first fiscal quarter ended September 30, 2023. Following their comments, we will open the call to questions.

The company's Q4 FY23 revenues slumped by almost 40%, while adjusted EBITDA dipped below $10 million due to a slowdown in the freight markets. Yet, Radiant Logistics had a net cash position of $26.6 million as of June, and it believes we are at or near the bottom of the cycle. Even if quarterly EBITDA stays at around $10 million over the next several quarters, the EV/adjusted EBITDA ratio would be just 6.1x.

Radiant Logistics, Inc. (NYSE:RLGT ) Q4 2023 Earnings Conference Call September 13, 2023 4:30 PM ET Company Participants Bohn Crain - Founder & CEO Todd Macomber - CFO Conference Call Participants Jason Seidl - TD Cowen Operator Greetings. Welcome to the financial discussion for Fourth Fiscal Quarter and Year-Ended June 30, 2023 Conference Call.