Radiant Logistics (RLGT) 12 Nov 242025 Q1 Earnings call transcript

This afternoon, Bohn Crain, Radiant Logistics Founder and CEO; and Radiant's Chief Financial Officer, Todd Macomber will provide a general business update and discuss financial results for the company's first fiscal quarter and ended September 30, 2024.

Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes. This conference call may include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The company has based these forward-looking statements on its current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the company that may cause the company's actual results or achievements to be materially different from the results or achievements expressed or implied by such forward-looking statements.

our www.radiantdelivers.com. to actual the differ Radiant are in at results those filings forth public impossible cause that materially other the is factors and in set company's such on the in available website the or in be past it and identify that which the factors all the may from include may While those statements, future have identified forward-looking announcements, achievements SEC to company's

In are of results addition, performance. future indication past an necessarily not

Now, Radiant's I'd Crain. over like to pass the Founder call to Bohn and CEO,

Thank and in Good you on for you. joining afternoon, everyone, today's call. thank

XXXX. quarter While in year results the $X.X most EBITDA period from million with we continue freight fiscal continue XXXX, that from recent our for previous persist, adjusted our opportunities durable XX, our to more results prior believe benefit and September is the And project we market which June to ended deliver line we while results the we fortify XX, expect broad-based a generally generated XXXX, term near as markets solid comparable in as face ended into financial over the to well recovery. quarter slower for do although likely should type will wait industry headwinds

we As as way our find normalized we these well are conditions. we to slower previously back believe discussed, freight positioned to markets market through more navigate

At thoughtfully sheet enjoy combination untapped our time, and debt through acquisitions with operating growth conversions, of balance stock strategic virtually as acquisition in profitable sheet delivering balance and initiatives combination $XX a same on meaningful facility. a a focused of September the buybacks. remain million on and to partner no tuck-in strategic of strong credit through organic relevering $XXX We and XXXX, we continue hand approximately cash XX, million a

both Logistics that we the time, this this operating believe, progress good and serve. we customers in approach, partner we over quarter Todd that, network our location, along forward Focus it conversion results, their I'll acquisition support of our operations shareholders, CFO, our opportunities, Detroit. acquisition are over can We as our to i.e., we'll transactions opportunities regard forwarding which existing representative detailed With currently we partners pipeline financial in agent-based Texas-based combining of the for X includes up then We us partners with operating value to Radiant the our Michigan-based of greenfield Q&A. meaningful continue turn Foundation for through in of not exit these made end further well progress to these as current part our this lines. of and updates it broader as now to and We providing Macomber, Logistics, open will our acquisitions, is where inherent over our Through deliver in network last believe with which walk strategic look strategies. operating companies we our

the financial discussing everyone. X including adjusted net months adjusted Thanks, and good Today, for we and September afternoon, income our EBITDA be Bohn, XXXX. ended XX, will results,

XXXX, or revenues months which million $XXX.X fully a diluted $X.XX on litigation. per income attributable and Logistics ended share, we $X.XXX million XX, million Radiant For $X the X to September of on gain reported basic of net includes

Radiant of approximately per income to or an revenue $X.XX and XXXX, $XXX,XXX $X.XX per million on XX, XX.X%. increase September ended months or X we year diluted Logistics share. $XXX.X net million of the the of comparable prior net $X.XXX over of reported This period For income fully attributable represents basic

million income to an the ended XX, X September or ended for $X.XXX million approximately XXXX, XX, This approximately income, net net represents adjusted XX.X%. September months XXXX. adjusted $X.XXX the for For $X.XXX of months compared we million reported increase X of

ended adjusted X.X%. With we moderator million $XXX,XXX call for $X.XXX XXXX. represents adjusted to X the will turn callers. ended XX, EBITDA months compared X that, facilitate months XX, I our over EBITDA, the from the back approximately of increase to to any XXXX, $X.XXX or of million For Q&A September reported for September This an our

[Operator from first Jason question Instructions] Seidl Cowen. is of Your coming TD

this couple related? A generated that it a here of questions guess, this being from? Or Where from bit my you from did I retail line. one, side? little come about work. Is quick talked maybe is storm number the pop-up

is B question, the to answer the storm Sure. related.

some opportunities type situations. So previous kind disaster to natural quarters, we've had as in humanitarian to of respond

-- Southeast are impacted continue the And as of time. out line those item hurricanes so to recurring, over to nonrecurring kind themselves turning creating present revenue some the it's that the be opportunities

the So kind I details, diversity of here environment. of there's the going stronger quite type quarter fiscal of really to marketplace a of be the tough quarter new some part, one but help can rate, in wanted necessarily otherwise for -- foreshadow challenge to different me, a expected And without not of still thanks QX. into our kind well a portfolio December into made getting of bit reasonably that all have play the show we're think of the quarter. That's run December. or project our lot points we faring to transports. might going wanted to ended to excuse kind in the -- and QX of well not be we're in to areas us of the in coming out the in we XX, reflective is But business kind landing a we than It's were expecting that

sense. makes That Okay.

look came we as into and events, some were ocean obviously, I side of with was today a pricing think, your long pricing. up. for sort other your clients I and What driving 'XX? expectations lunch thing, thoughts of of sort on the so with are so because some wonder for I at the exogenous up high ocean The we expectations

Red prices remain relatively It to It's activities. I near of -- robust going to always term, people to going of potential Sea due ahead well as it's to get the interesting. be think trying are as some seems tariffs --

term, I I the relatively how a yes, support Sea. Red TBD. get stay don't so lot of of prices, and dynamics that kind a short kind -- down past think longer that would capacity of kind So things is will things term, of near there's the term durable in after relatively think tight, tariff think we hopefully settle I is I

of brought you potential I of there Trump up as going forward? is there a from any in your sort Okay. should What was mean, Understood. anticipation And pull victory? forward to customers feedback tariffs. any expect we

Yes.

kind seeing, generally been forward, and of of part more there we'll what broadly, again, all kind we're over part just and of speaking, put but -- of just posturing that a that's who I motion. what seeing has we're narrative what out be versus how But pull kind people little see of us, not think think, time. do a into of that is knows I to really something bit is hedging were their that bets going plays

So sure kind dynamics, responding support we'll of nimble be customers I'm will can best as we our try lively. which to those and to stay

coming want get back ending up. I to to here And December quarter Understood. the

basis? Given a your EBITDA margins project sequential think on how work, we about should

to little up. project basis, on work our margins going dollars an to the we're I the of a absolute because of be would doing. margin gross be nature down some But expect bit of

Okay.

So it's more revenue...

for code That's charters.

question next Vertical Jeff Your Partners. from is of Kauffman Research coming

Congratulations. some exciting like opportunities It XQ. sounds in

income? gain. with litigation one, think Todd, that Was luck you million income explains just good Jason other I So didn't that. I mentioned questions the that $X in X that other had ask. differential Number in

what That's is. that Yes. exactly Correct.

And our add in back EBITDA number. adjusted an

So out presented. and of that's we has backed kind the it that numbers

listen, No, it's Yes. some quarters, bad.

it it help understand, a That's then jump be big commissions it looked agency running. looked small quarters could and always to costs. see. a was at wondering, was where previous versus well, kind was some in in agencies. a okay, downward this basis you by, of to big I it's quarter be quarters little seem move just me was to commissions points too personnel like XXX to Some bought almost run in good. down the relative in explainable we've It And nice there rate

agency So line? with what commission the was going on

and a -- piece it. as But to it an the that, bringing well, our of of of stations bring in addition And the where other of -- example, commission the sales, that it's so no is, not a that conversions, mix in right? revenue, in paid. do is in do only there's were mean I part product we the Foundation is of other piece for the cost obviously, bringing instance, bringing we in we're network,

commission drivers are the in reduction So those that's -- expense. big in the overall the

ago year actually significant somewhat this maybe if agency And to be the our correctly, and themselves. one I it, had helpful in comparable would remember stations of some charters also period,

there the year was project and of of kind in charter of ago type you're some part kind level business seeing that also that period, non-recurring this. a that explain the would reconciliation so And agency at

Okay. was around I just trying know little quarter-to-quarter. No, I to I just it bit -- a jumps reconcile.

is point I sorry, more elevated, dollars, lower doing or this XQ, margin. you're gross revenue to the on goes and lower way margin So that higher would if maybe in is your interpret I'm little charters that a --

Yes, lower margin percentage.

question, one Okay. can. And last just I if

turn. you're it's we to We're supply of I or can nonetheless. you commentary, different maybe tough say geography past whether doing we're hey, and quarter, it's chain So enough but a seeing for that? saw holding of talk whole industry the or move or still and segments the not shoots green parts green There's been a like more you shoots, Where of in some vertical this encouraging something would environment. needle in terms the the see, everything a waiting while what in different

seeing of definitely that's West largely going of ocean Well, I the influenced think the on a the Coast, on. by kind we're of tightening import kind capacity activity

I'm I for be good of to of if about definitely more of too seeing we a is this see little it's part that bit to So tightening, for environment get quarters think path a we're you and is more kind business-friendly corporate narrative of hopefully kind but will start this you kind several I The will stuff, way that type But and just or now. environment. of short-lived growing right, -- durability hopeful just again a that. to of the of of can been sustainable. ultimate question think all whether hasn't kind be to kind tax don't the a conclusions which answer draw and going real that lean have the early capacity investing kind of whether America

is Lake the And Argento of Mark Street coming next Capital. question from

like made tuck-in follow you up. Just wanted a It acquisitions. to looks incremental of couple

in are seeing you? handful you're year. be you're looks you done that back of kind thoughts, kind the this Any What these a point getting have are it's It marketplace. value about these pace. of the guys time where seems Bohn, proposition like You -- that is continuing incremental just high. tipping the over to for to guys to or in it thing What's what

of I think Mark. combination it's a things,

kind in and that of whole gray our kind of approaching as or You've retirement now a story is pipeline older partners getting of time the maturing, intended. this agency been no just and notion of involved long kind the they're pun tail age,

to And kind conversations the -- that and those trend are kind of frequency continue. just we so -- natural of is expect accelerating,

locations, we if involved they're to support kind of operating number a ready with So them and excited we're when to remain transact. of actively and

doing. So of that's part we're what

open kind us back exciting the the been of for been structure. our kind years period equally around -- us. while business, market market, we've terms and of -- we is of in for And has from of other And had always were away own generally of disciplined part, come the of pretty valuation the speaking, time. moved But which is a over kind the thoughts then we've to kind while

get a So we our or where markets to just we're can our kind what changed us the approach philosophy, doing thoughts done. deals we necessarily way of or in have our but back or haven't come

sheet. do of they're we have so to whack kind and kind a think a really we're recapitalize themselves. awkward of as of that actually unlevered things if box kind a balance of the that, Many in sheets of out about balance little an steady are excited number of they're kind about penalty having bit our to of competitors' you particularly And and fact of

my in effectively our structure. double we so capital EBITDA within existing our And mind, can

it's to stock think is price. in so that And I that's sink least starting exciting. I durable And think to really in -- see positive why and our and we're at some hopefully message lift starting

guys you but memory general structure refresh of to then just just in that. refresh And and the earn-out, audience is on me some have an the that and Right. terms upfront maybe

yes. Yes,

is structure to where of underperformance. includes against overpaying have that closing earn-outs terms and for almost conversation, a a the type that for been a in sellers use typically would helps plus for win-win case transactions the of or structure just the typically earn-outs and earn-out transactions. of what perform, business $X to structurally -- those continues I'll in we we use way a use And minus So our we to benefit believe of structure most we value in as our can of continue And ensure that exclusively and years skin of again, where game for value mitigate several kind an post business. that would the the we the business or the EBITDA in have everybody, million characterize

coming Kevin Thompson, Gainey is from question next Davis. from Your

of the you us your with guys and you could came in -- how with customers tariffs think that it Congratulations forward? we what moving the how see remind reacted round to that that could for do business and how what first guys first -- wanted the might administration if did phase maybe and I your reacted to quarter. back first about the Maybe how of

some not. think losers, few kind right? the So at people will that a be will products well, forward And saw and I these to things right? -- any on there we there trying winners and time going might tariffs be particular time, there were a of happen, pull others was subject natural things a where Well, --

So a one-size-fits-all it's not question.

with. First, subject businesses groups look at of begin are have of you that kind to or industry tariffs the the to

to analysis. be affected part to the for players, exposures that But construct the their going those own mitigate trying tariffs. So to will solutions to they're of be

get It can clock advance form in effective and -- number happen. dates that of the of that to there's product take a can kind So trying may different the of things of the scenarios exposures the parts of beat just the and of tariffs world to as and reconfiguration workflows to supply a cause to might and into repositioned navigate that get of materials well. different raw of those try chain other subassembly the kind cause moved

that huge face and And to try kind so all and execute was of of of last this of all of hangover we in kind time Kind stuff. strategies. help that those happening the the also congestions post-COVID type of

of heard I tight to digest of And had late, little up going It capacity destocking warehousing however the perfect near-term of of would warehousing would we're again. it with little going to I find next when got and back again, pulling what all shippers, for be see kind exercise. of concurrently. the particular So not people time and in we'll that And if bit West haven't here kind reflection was bit, the of precious it is going through were So we a in going be sure don't we but how a least I ports to capacity see to a of as dealing right? the see tariffs challenges kind kind place remain here stuff, kind forward, shutdowns really what right? much create on the But we'll help can. would volumes. of we and a of moment I'm to long we get is Coast to know because expect kind at to -- I kind their history were some of expect loosened pressures they such But that getting is of a put are to unique

especially you maybe lines, bit sense. could Maybe something I industrial about of season, you're retailers. lot retail, specific little it markets, a a those end talk also the them, whether consumer, makes for peak hearing what maybe be That or along entering guess, from

-- in ourselves, would out all, don't of I the of lot things have alluding work. kind pretty interesting happen least involved many Yes. from add exposures, say, -- e-com on hear food Outside project some players proved to portfolio remains kind a be don't just soft. the of and through effect those are to there, I including. beverage and basis, all do across through our was e-com have vertical. an of to I industry of with individual earlier, to of But and like lot color chest-thumping a really have CPG, of steady lens. soft, We the which darn a you market have lot -- opportunities type on at some pretty been some to be even a comparable markets and normally even

And the for operating out. the free come I will see cash you in flow the to appreciate guys queue know what cash trying just color. I I think get wanted the flow, really could Todd, flow, about to cash I quarter. had free but...

mean, I the it's -- mean overall I the was really biggest That flow, Yes. cash we driver. a lot, with mean, acquisitions. right, spent I

-- what I did So net the in... cash we come mean,

quarter near I think for cash from was operations the breakeven.

It big the with had acquisitions. was And $XXX,XXX. outflows, we course, of then

Thank Bohn Well, appear have we session. back the you closing much. to I turn remarks. the end very now our will reached of to for over call question-and-answer

you. Thank

Radiant network to Thanks and we've of relever for time, that value by on the me create customers bring to and end we stock thoughtfully a of we continue multipronged believe through same footprint to your partners sheet and Logistics. about our shareholders, continue we partners serve. At best-in-class support conversions, remain to we we listening continue leverage approach, to will Radiant. service robust value. this combination tuck-in prospects and the our intend acquisitions Let buybacks, Through here at technology, our strategic to optimistic and great and our North to opportunities continue good created close American balance of operating extensive agent saying platform shareholder global build to the station

conclude Thank you This call. does conference very much. today's

phone your disconnect wonderful for your time, participation. lines a and this at have may You you Thank day.