Radiant Logistics beat fiscal fourth-quarter expectations, sending shares of RLGT 16% higher in early trading Tuesday. The Renton, Washington-based third-party logistics provider reported revenue of $261 million for the quarter ended June 30, up 19% year over year and $30 million ahead of the consensus estimate. Adjusted earnings per share of 15 cents, or $7.4 million, came in 4 cents higher year over year and 6 cents ahead of consensus, while adjusted EBITDA rose 31% year over year to $10.4 million and the adjusted EBITDA margin improved 240 basis points to 15.5%. The company ended the quarter with no net debt and in August amended its $200 million revolving credit facility, extending the maturity by five years and increasing the accordion feature for acquisitions from $75 million to $100 million. Radiant also recently launched a new independent agent program at its over-the-road and intermodal brokerage platform, Radiant Road & Rail, which CEO Bohn Crain called a meaningful new avenue for organic growth.
Radiant Logistics IncRadiant Logistics beat FQ4 revenue and EPS estimates, with adjusted EBITDA up 31% and margin improving 240bps.
CTO Realty Growth IncRadiant Road & Rail launched a new independent agent program described as a meaningful new avenue for organic growth.
