Welcome to our dedicated page for Radiant Logistics news (Ticker: RLGT), a resource for investors and traders seeking the latest updates and insights on Radiant Logistics stock.
Radiant Logistics reports developments for a technology-enabled third-party logistics business that provides global transportation and value-added logistics services. The company offers domestic and international freight forwarding, truck and rail brokerage, warehouse and distribution, customs brokerage, order fulfillment, inventory management and logistics technology services to customers primarily in the United States, Canada and Mexico.
Recurring RLGT news includes quarterly financial results, acquisition and operating-network expansion, company-owned and agent-owned office activity, share repurchase authorizations and digital logistics initiatives such as the Navegate platform and the Ray AI agent. Company updates also cover international gateway expansion, including operations in Hong Kong, Shanghai and Shenzhen, as part of Radiant's freight forwarding and logistics network.
Radiant Logistics (NYSE American: RLGT) reported financial results for Q4 and FY 2024. Key highlights include:
- Q4 revenues of $206.0M, down 11.3% YoY but up 11.6% sequentially
- Q4 net income of $4.8M ($0.10 per share), up 54.8% YoY
- Q4 adjusted EBITDA of $9.1M, down 1.1% YoY but up 75% sequentially
- FY2024 revenues of $802.5M, net income of $7.7M
- Completed five tuck-in acquisitions during FY2024
- Ended Q4 with $24.9M cash and no debt drawn on $200M credit facility
CEO Bohn Crain noted sequential improvement in Q4 results and the company's strong balance sheet positioning it for future growth as market conditions normalize.
Radiant Logistics (NYSE American: RLGT) has appointed Laurent Grousseau as its new Senior Vice President and Chief Technology Officer (CTO). With over 30 years of experience in the transportation and logistics industry, Grousseau will lead the company's information systems enhancement and support the migration of acquired companies to common applications, including the deployment of Navegate, Radiant's proprietary global trade management platform.
Grousseau, 56, previously served as CIO of Pilot Freight Services and held senior roles at CEVA Logistics and Kuehne + Nagel. He will report to Founder and CEO Bohn Crain, who praised Grousseau's technical, interpersonal, and managerial skills. Grousseau expressed interest in advancing the Navegate platform and exploring emerging technologies to scale Radiant's operations and deliver customer value.
Radiant Logistics (NYSE American: RLGT) has acquired Foundation Logistics & Services, a Texas-based company specializing in transportation and logistics for the oil and gas industry. The acquisition strengthens Radiant's capabilities in supporting the oil and gas sector, particularly in handling hazardous materials and urgent oilfield equipment. Foundation, founded in 2014, will continue operating under its current name before transitioning to the Radiant brand in 2025. The deal structure includes performance-based payments in subsequent periods. This strategic move expands Radiant's service offerings and geographical presence, particularly in the Humble, Texas area, which holds personal significance for Radiant's CEO, Bohn Crain.
Radiant Logistics, Inc. (NYSE American: RLGT), a technology-enabled global transportation and value-added logistics services company, has announced a conference call scheduled for Thursday, September 12, 2024, at 4:30 PM Eastern. The call will discuss the company's financial results for the fourth fiscal quarter and year ended June 30, 2024. Founder and CEO Bohn Crain will host the call, which is open to all interested parties, including individual investors and press.
The conference call can be accessed via dial-in numbers for US and international participants, with a participant access code provided. A replay of the call will be available from September 13, 2024, to September 26, 2024. Additionally, the call will be webcast and can be accessed through Radiant's website or a direct webcast link.
Radiant Logistics (NYSE American: RLGT) has been awarded a 5-year contract by USAID to provide global transportation services for personnel and emergency disaster equipment. This contract, through Radiant's subsidiary Radiant Global Logistics, Inc., is for the Bureau of Humanitarian Assistance.
The company has a proven track record in critical missions, including support following the earthquake in Türkiye and cyclone in Vanuatu. Radiant's expertise lies in heavy lift air chartering, special projects, and disaster response logistics, enabling rapid deployment of personnel and lifesaving equipment into complex environments.
As a prime contractor, Radiant will be responsible for transporting personnel, emergency disaster equipment, cargo, and service animals worldwide over the next five years.
Radiant Logistics (NYSE American: RLGT) has acquired DVA Associates, a Portland-based transportation and logistics company. This acquisition will enhance Radiant's presence in the Portland market and integrate DVA's operations under Danielle Van Auken's leadership. Founded in 1984, DVA serves diverse industries like footwear and apparel. The transaction structure includes future performance-based payments. Radiant, currently debt-free with a $200 million credit facility, aims to leverage DVA's strengths and its own network to provide additional value and growth opportunities. Radiant's CEO, Bohn Crain, emphasized the strategic importance of this acquisition in building market density and capturing incremental revenue and cost synergies.
Radiant Logistics, a provider of global transportation and logistics solutions, announced the acquisition of Seattle-based Cascade Transportation. Cascade offers domestic and international transportation services and has been operational since 1982. The transaction is structured with a portion of the purchase price payable based on future performance. Cascade will operate under Radiant Global Logistics (RGL-SEA) post-acquisition, retaining its current leadership. The acquisition is aligned with Radiant's strategy to support logistics entrepreneurs and expand its market presence.
Radiant Logistics, Inc. announced its financial results for the third fiscal quarter ended March 31, 2024. Despite a decrease in revenues and gross profit compared to the prior year, the company reported positive adjusted net income and EBITDA. The acquisition of strategic partners and the stock buy-back further strengthen the company's position for future growth.
Radiant Logistics, Inc. will host an investor call on May 9, 2024, to discuss the financial results for the third fiscal quarter ending March 31, 2024. The call will be open to individual investors and press, featuring Founder and CEO Bohn Crain as the host.
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