Radiant Logistics reports mixed Q1 and Q2 results; now current with SEC filings, zero net debt

RADIANT LOGISTICS, INC

Q1 (Sep 30, 2022): revenue $331M (+10.6% YoY), adjusted EBITDA record $18.5M (+21.7%), net income $8.4M.
Q2 (Dec 31, 2022): revenue $278.1M (-17.2% YoY), adjusted EBITDA $15.3M (-8.4%), net income $4.8M.
Six months: revenue $609.1M (-4.1%), adjusted EBITDA $33.9M (+5.9%), record; net income $13.3M.
Acquired Cascade Enterprises effective Oct 1; bought back 839,864 shares at avg $5.95 for $5.0M.
Cash $62.0M, total debt $53.7M; first time zero net debt; CEO expects slowing economy and normalization.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RADIANT LOGISTICS, INC reported the first fiscal quarter ended September 30, 2022 results: revenue $331.0 million, net income $8.4 million, EPS $0.17 per basic and fully diluted share.

Period: the first fiscal quarter ended September 30, 2022
Revenue: $331.0 million
Net income: $8.4 million
EPS: $0.17 per basic and fully diluted share
Result: reported results

Exact text from the filing

Financial Highlights – Three Months Ended September 30, 2022 • Revenues increased to a record $331.0 million for the first fiscal quarter ended September 30, 2022, up $31.6 million or 10.6%, compared to revenues of $299.4 million for the comparable prior year period. • Gross profit increased to a record $74.7 million for the first fiscal quarter ended September 30, 2022, up $13.0 million or 21.1%, compared to gross profit of $61.7 million for the comparable prior year period. • Adjusted gross profit, a non-GAAP financial measure, increased to a record $76.5 million for the first fiscal quarter ended September 30, 2022, up $11.8 million or 18.2%, compared to adjusted gross profit of $64.7 million for the comparable prior year period. • Net income attributable to Radiant Logistics, Inc. increased to a record $8.4 million, or $0.17 per basic and fully diluted share up $0.8 million or 10.5% compared to $7.6 million, or $0.15 per basic and fully diluted share for the comparable prior year p

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RADIANT LOGISTICS, INC reported the second fiscal quarter ended December 31, 2022 results: revenue $278.1 million, net income $4.8 million, EPS $0.10 per basic and fully diluted share.

Period: the second fiscal quarter ended December 31, 2022
Revenue: $278.1 million
Net income: $4.8 million
EPS: $0.10 per basic and fully diluted share
Result: reported results

Exact text from the filing

Financial Highlights – Three Months Ended December 31, 2022 • Revenues decreased to $278.1 million for the second fiscal quarter ended December 31, 2022, down $57.7 million or 17.2%, compared to revenues of $335.8 million for the comparable prior year period. • Gross profit increased to $70.4 million for the second fiscal quarter ended December 31, 2022, up $2.6 million or 3.8%, compared to gross profit of $67.8 million for the comparable prior year period. • Adjusted gross profit, a non-GAAP financial measure, increased to $74.0 million for the second fiscal quarter ended December 31, 2022, up $2.9 million or 4.1%, compared to adjusted gross profit of $71.1 million for the comparable prior year period. • Net income attributable to Radiant Logistics, Inc. decreased to $4.8 million, or $0.10 per basic and fully diluted share, $1.7 million compared to $6.5 million, or $0.13 per basic and fully diluted share for the comparable prior year period. • Adjusted net income, a non-GAAP financial

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Source: SEC EDGAR

accession 0000950170-23-009864

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