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 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) 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.
Radiant Logistics (RLGT) reported impressive financial results for the second fiscal quarter ending December 31, 2021. Revenues surged 52.1% to $332.8 million, compared to $218.8 million in the prior year. Net income rose 81.6% to $6.9 million, or $0.14 per share. Adjusted net income increased 43.0% to $12.3 million, while adjusted EBITDA climbed 38.4% to $17.3 million, improving the adjusted EBITDA margin to 24.1%. The acquisition of Navegate adds significant capabilities, enhancing Radiant's international services. The company also bought back $6.3 million in shares, reflecting confidence in its stock value.
Radiant Logistics (NYSE American: RLGT) will host a conference call on February 14, 2022 at 4:30 PM Eastern to discuss its financial results for the second fiscal quarter ended December 31, 2021. The call is open to all interested parties and will be hosted by Bohn Crain, Founder and CEO. Participants can dial in using the US number (888) 506-0062 or the international number (973) 528-0011, with the access code 124371. A replay will be available from February 15 to February 28, 2022.
Aethlon Capital has successfully advised Navegate, a logistics and supply chain management company, on its sale to Radiant Logistics (NYSE American: RLGT). The transaction, completed on December 3rd, allows Radiant to acquire all of Navegate's stock, enhancing its international services, particularly in customs brokerage and ocean forwarding. Bohn Crain, CEO of Radiant, expressed enthusiasm about this strategic acquisition, which also strengthens their presence in Shanghai. Navegate's expertise and technology will benefit Radiant's extensive network of over 100 locations across North America.
Radiant Logistics (NYSE: RLGT) has announced the acquisition of Navegate, a Minnesota-based logistics firm, for $35 million. Navegate, known for its advanced digital platform, generated about $5.9 million in normalized EBITDA on $88 million in revenue for the year ending September 30, 2021. This acquisition aims to enhance Radiant's international logistics capabilities, including customs brokerage and freight forwarding, and is expected to create cross-selling opportunities by integrating Navegate's services across Radiant's over 100 operational locations.
Radiant Logistics (RLGT) reported record financial results for Q1 FY2022 ending September 30, 2021. Revenues surged to $286.1 million, a 62.6% increase from $175.9 million Y/Y. Net income rose 129% to $7.1 million, translating to $0.14 per share. Adjusted net income hit $10.6 million ($0.21/share), showing a 63.1% growth. Adjusted EBITDA reached $14.5 million, up 57.6%, with a margin improvement of 230 basis points to 22.4%. The CEO highlighted the strong performance amid market dynamics and mentioned ongoing stock buybacks.
Radiant Logistics (NYSE American: RLGT) will host a conference call on November 9, 2021, at 4:30 PM Eastern to discuss its financial results for the quarter ending September 30, 2021. The call is open to all interested parties and will be hosted by Bohn Crain, Founder and CEO. Investors can participate via dial-in or webcast, with replay options available until November 23, 2021.
Radiant Logistics, Inc. (NYSE American: RLGT) will attend Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference on September 14, 2021. Todd Macomber, SVP and CFO, will engage in one-on-one meetings with institutional investors throughout the event. The BIG5 Conference highlights over 100 dynamic growth companies and offers a platform for direct interaction between executives and top investors. Interested parties can schedule meetings through Lake Street Capital Markets or contact Radiant Logistics directly for more information.