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.
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Radiant Logistics (RLGT) has filed its quarterly reports with the SEC, bringing its filings current. For the six months ending December 31, 2022, revenues totaled $609.1 million, down 4.1%, while gross profit rose 12.1% to $145.2 million. Despite a decline in Q2 revenues to $278.1 million, gross profits increased 3.8% to $70.4 million. Net income decreased to $4.8 million in Q2, reflecting challenges in the market. The company continued capital allocation initiatives, including a $5 million stock buy-back program and the acquisition of Cascade Enterprises. As of March 20, 2023, RLGT had no net debt and $62 million in cash.
Radiant Logistics (NYSE American: RLGT) will host a conference call on March 27, 2023 at 4:30 PM Eastern to discuss its financial results for the year ending June 30, 2022, and the quarters ending September 30 and December 31, 2022. The call will be led by Bohn Crain, CEO, and is open to all interested parties, including individual investors and press. Dial-in details include US (888) 506-0062 and Intl. (973) 528-0011, with access code 913812. A replay will be available starting March 28 until April 10 for those who can't attend.