Radiant Logistics reported Q4 FY2024 results with solid sequential improvement amid a still-soft freight market. Revenue for the quarter was $206.0 million, down 11.3% year over year but up 11.6% quarter over quarter, while net income reached $4.78 million and basic earnings per share stood at $0.10. Adjusted net income was $7.02 million and adjusted EBITDA was $9.08 million for the quarter, underscoring a resilience in operating performance despite market headwinds. Management highlighted meaningful progress toward profitable growth through a combination of organic initiatives and tuck-in acquisitions, and stressed balance sheet strength, including approximately $25 million in cash on hand and no drawings on the company’s $200 million credit facility. Over the full year ended June 30, 2024 Radiant generated $31.2 million in adjusted EBITDA and $17.3 million in cash from operations, reflecting a difficult year for the freight cycle but a foundation for future upside as markets normalize.
Management acknowledged a low base from the prior year but stressed sequential improvement into Q4, with expectations to capitalize on an active M&A pipeline and agent-network transitions to drive future profitability. The CFO highlighted that three agent-station conversions occurred in FY2024 and that additional acquisitions joined Radiant’s network in 2024, including DVA Associates, Cascade Transportation, and Foundation Logistics, with continued emphasis on tuck-ins and greenfield opportunities in 2025. The call also touched on near-term risk factors, including macro freight demand, seasonality, and potential port disruptions, but management signaled readiness to provide operational solutions for customers if such events accrue.
Overall, Radiant’s QQ4 results suggest a path to earnings stability through ongoing consolidation, a disciplined capital return strategy, and a focus on leveraging its North American footprint and global partner network to capture higher-margin volumes as the freight environment gradually normalizes.