Welcome to our dedicated page for Radiant Logistic news (Ticker: RLGT), a resource for investors and traders seeking the latest updates and insights on Radiant Logistic stock.
Radiant Logistics, Inc. (NYSE American: RLGT) is a technology-enabled third-party logistics company that regularly issues news and updates related to its transportation and logistics operations, financial performance and corporate strategy. As a provider of global transportation and value-added logistics services, Radiant’s announcements often reflect developments across domestic and international freight forwarding, truck and rail brokerage, and logistics services such as warehousing, customs brokerage and inventory management.
Investors and industry observers following RLGT news can expect recurring coverage of quarterly and annual financial results, where the company discusses revenues, profitability and non-GAAP measures such as adjusted gross profit and adjusted EBITDA. These earnings releases frequently include commentary on market conditions, performance of U.S. and Canadian operations, and contributions from recent acquisitions and strategic operating partner conversions.
Radiant’s news flow also highlights acquisition activity and network expansion. The company reports on green-field acquisitions, the purchase of long-standing strategic operating partners and international investments such as its 80% ownership interest in Mexico-based Weport, S.A. de C.V. These items provide insight into how Radiant is building out its North American and global logistics platform.
Additional RLGT updates cover capital allocation decisions, including stock repurchase program authorizations and share buy-back activity, as well as technology initiatives such as the advancement of its Navegate global trade management and collaboration platform and related leadership appointments. For readers tracking Radiant, this news page offers a centralized view of the company’s financial disclosures, strategic moves and technology-focused developments over time.
Radiant Logistics (RLGT) reported Q3 results for fiscal 2022, achieving revenues of $460.9 million, a 94.9% increase year-over-year. Net revenues reached $84.9 million, up 49.5%, while net income surged to $14.3 million, reflecting a remarkable 186.0% increase. Adjusted EBITDA also rose to $23.6 million, up 82.9%. The company highlighted success in its project charter business and the positive contribution from the Navegate acquisition. A renewed stock repurchase program and an effective $150 million shelf registration statement were also announced.
Radiant Logistics (NYSE: RLGT) announced that the SEC has declared effective its $150 million universal shelf registration statement on Form S-3, replacing the previous $100 million statement. This grants Radiant flexibility to issue common equity, preferred equity, debt securities, and more, for general corporate purposes. CEO Bohn Crain emphasized that this move enables capital access for growth strategies. However, the company's ability to raise capital depends on its operational needs and market receptiveness, with no current agreements for issuance.
Radiant Logistics (NYSE American: RLGT) announced a conference call scheduled for May 10, 2022, at 4:30 PM Eastern to discuss its financial results for the three and nine months ended March 31, 2022. This call is accessible to all interested parties, including investors and the press, and will be hosted by Bohn Crain, Founder, and CEO. Participants can join via dial-in numbers or through a webcast available on Radiant's website. The replay of the call will be available from May 11 to May 24, 2022.
Radiant Logistics (NYSE American: RLGT) has been recognized in the 2022 Logistics Top 100 and Freight Brokerage Top 100 by Transport Topics. This acknowledgment reflects the company's robust growth strategy and commitment to customer service across sectors like humanitarian aid and life sciences. CEO Bohn Crain praised the team's dedication, attributing the success to their efforts during a challenging market environment. Rankings are based on gross revenue over the past year, underscoring Radiant's standing in the North American logistics sector.
Radiant Logistics (NYSE American: RLGT) announced the filing of a new universal shelf registration statement on Form S-3 with the SEC, replacing a previous $100 million registration that has expired. The new filing enables Radiant to offer up to $150 million in securities, including debt and equity. Although filed, the statement is not yet effective, and there are currently no specific plans for securities issuance. This move aims to provide flexibility for future financing needs and business opportunities.
Radiant Logistics (RLGT) Continues Strong Performance
Radiant Logistics, Inc. announced it expects to report another quarter of record financial results for Q3 2022, ending March 31. Preliminary unaudited results indicate robust performance, bolstered by the recent acquisition of Navegate, Inc., which has exceeded historical performance metrics. Additionally, the company supported COVID relief efforts by delivering over 85.4 million test kits for the U.S. Department of Health and Human Services. Inducement awards for Navegate executives were also announced, enhancing employee retention.
Next Coast Ventures has successfully raised $310 million across three funds, boosting its total assets under management to over $520 million in just six years. This Austin-based venture capital firm targets entrepreneurs in Texas and other emerging tech hubs. Since 2016, it has achieved multiple successful exits, including significant investments in companies like LivePerson (LPSN) and Radiant Logistics (RLGT). The funds will primarily support early-stage tech businesses, with a strong emphasis on operational expertise from its experienced team.
Radiant Logistics (NYSE American: RLGT) announced an expansion of its humanitarian efforts, establishing a service desk to support the ongoing crisis in Ukraine. In the past month, the company has delivered over 100 tons of emergency supplies, including medical equipment and food. The new Ukraine Service Desk aims to streamline urgent relief efforts, building on Radiant's history of collaboration with government and NGOs. Chief Commercial Officer Arnie Goldstein emphasized the commitment to aid and recovery for clients globally.
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Radiant Logistics, Inc. (NYSE American: RLGT) has authorized a share repurchase program for up to 5 million shares of its common stock through December 31, 2023. The company, with 49,443,305 shares outstanding as of February 1, 2022, plans to utilize existing cash balances and cash flows for these purchases. CEO Bohn Crain stated that the current share price does not reflect the company's long-term growth prospects, making this buyback an attractive investment opportunity. The timing and number of shares repurchased will depend on market conditions.