Earnings Watch: Radiant Logistics Moves Into the Red
The third party logistics and multi-modal transportation services company Radiant Logistics Inc. reported on Monday afternoon it swung from a profit to a loss in the first quarter of the year despite a 54.2% increase in net revenue.
The third party logistics and multi-modal transportation services company Radiant Logistics Inc. (NYSE: RLGT) reported on Monday it swung from a profit to a loss in the first quarter of the year despite a 54.2% increase in net revenue, but adjusted earnings beat expectations.
The net loss totaled $2.2 million, or 5 cents per share, compared to net income a year earlier of $800,000, or 2 cents per share.
Adjusted net income, which includes non-recurring items, was $1.8 million, or 4 cents per share, versus net income of $1.4 million, or 4 cents per share a year earlier. The per-share performance exceeded expectations of adjusted net income of 1 cent per share, according to a consensus estimate from Zacks Investment Research.
Net revenue increased to $41.8 million from $27.1 million a year earlier while total revenue, which includes the cost of transportation, hit $173.3 million compared to $102.3 million in the 2015 quarter.
"We are very pleased to report another record quarter in what was a generally soft freight environment in our seasonally slowest quarter," said Bohn Crain, founder and CEO.
He said the Washington-state-based company has updated its guidance for fiscal 2016, which is up at the end of June, to reflect the retirement of $25 million debt with normalized adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $27.5 to $29.5 million on revenue of $788.9 to $829.1 million.
“This equates to adjusted net income attributable to common shareholders in the range of $7.8 million to $9.1 million, or 16 cents to 18 cents per basic and fully diluted share,” Crain said.
For the nine months ended March 31, Radiant reported a net loss attributable to common stockholders of $4.9 million on $598.9 million of revenue, or 10 cents per share. This compares to net income of $2.2 million on $306.4 million of revenue, or 6 cents per share, a year earlier.
Radiant's report follows most publicly owned trucking and related services providers already reporting first quarter earnings. For a rundown of these most recent results follow this link.
More Fleet Management
For Nicky Cupp, Fleet Innovation Starts With Frustration
HDT Truck Fleet Innovator Nicky Cupp turns everyday pain points at Fraley & Schilling into opportunities for better technology and smarter processes.
Read More →
Adam Buttgenbach’s Approach to Electric Trucks: Start With Where They Fit
HDT Truck Fleet Innovator Adam Buttgenbach helped PepsiCo build one of North America’s largest EV fleets by focusing on where electric trucks make operational sense.
Read More →
Deen Albert: Let Automation Do the Math, People Make the Decisions
HDT Truck Fleet Innovator Deen Albert makes sure people are still at the heart of operations at Grand Island Express, even while adopting artificial intelligence tools. AI-assisted dispatch helped boost revenue 25% with the same number of trucks.
Read More →
Trimble’s New AI Agent Takes Aim at Fleet Back-Office Busywork
Arc Agent works across Trimble TMS products to automate repetitive tasks such as freight orders, maintenance, invoices, fuel costs and more.
Read More →
How HDT’s 2026 Truck Fleet Innovators Are Rethinking Fleet Operations
Meet five trucking leaders who are challenging assumptions, solving operational problems, and putting innovative ideas to work.
Read More →
Tight Trucking Capacity Pushes Rates Higher Even as Freight Volumes Fall
“Spot rates moving ahead of contract rates have historically signaled a tightening market, but we haven’t seen a capacity-driven market quite like this one,” said DAT's Dean Croke.
Read More →
Import Cargo’s Early Peak Season is Winding Down
There was an early start to peak season this year at the nation's gateway ports, as retailers brought in merchandise ahead of tariff changes in late July and responded to other supply chain uncertainties,
Read More →
Fewer Cargo Thefts, Bigger Losses: Criminals Target Higher-Value Loads
CargoNet says organized theft rings are stealing fewer shipments but choosing more valuable freight, including metals and technology, resulting in record losses.
Read More →
How Innovative Trucking Leaders Turn Change Into an Advantage
As the pace of change accelerates in trucking, the fleets that adapt best have more than the latest technology. They have cultures that embrace improvement.
Read More →
Freight Broker Bonds Just Got Harder to Get. Here's What That Means for Your Fleet.
When it gets harder for a freight broker to prove they are financially sound, the ones who cannot clear that bar get pushed out of the market. And those are exactly the brokers who used to leave motor carriers holding the bag.
Read More →