The following is a summary of the Radiant Logistics, Inc. (RLGT) Q2 2024 Earnings Call Transcript:
Financial Performance:
Radiant Logistics reported Q2 2024 net income of $985000 on $201.1 million of revenues, representing a significant decrease from the previous year.
Despite challenging freight markets, the company generated $16.9 million of adjusted EBITDA and $12.1 million in operating cash flow in the first half of fiscal 2024.
Both net income and revenue for the six months ended on December 31, 2023, declined markedly compared to the same period a year earlier.
Business Progress:
The company is undergoing a proactive restructuring which includes re-leveraging their balance sheet through strategic acquisitions and stock buybacks.
An acquisition aimed at augmenting services for the Florida-based cruise line industry has been recent.
An ongoing strategic shift is underway from agent stations to company-owned locations, with active discussions occurring with several agent stations.
With anticipation of improved market conditions in the second half of 2024, the company appears confident in future growth prospects.
More details: Radiant Logistics IR
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