Radiant Logistics Q4 Earnings Call Highlights

Key Points

• Fourth-quarter results improved significantly: Revenue rose 18.5% to $261.4 million, net income increased to $7.5 million, and adjusted EBITDA climbed 31.6% to $10.4 million. Adjusted EBITDA margin expanded by 240 basis points year over year.
• Freight-market conditions showed signs of recovery: Growth was led by U.S. forwarding, domestic services and international air freight, while higher spot rates and tender rejections indicated improving truck brokerage and intermodal markets. Radiant expects these trends to continue into the September quarter, although no formal outlook was provided.
• Radiant entered fiscal 2027 with greater financial flexibility: An amended $200 million credit facility extends through 2031, adds $100 million of acquisition capacity and improves pricing terms; the company reported no net debt. Management plans to pursue disciplined acquisitions, agent-station conversions and potentially share repurchases.

Radiant Logistics NYSEAMERICAN: RLGT reported higher fourth-quarter revenue, profit and adjusted EBITDA for the fiscal quarter ended June 30, 2026, as its U.S. forwarding operations, domestic services and international air freight business contributed to growth.

Net income attributable to Radiant was $7.5 million, or $0.16 per basic share and $0.15 per diluted share, compared with $4.9 million, or $0.10 per share, in the prior-year quarter. Revenue rose 18.5% to $261.4 million.

Adjusted net income increased 34.5% to $7.4 million, while adjusted EBITDA climbed 31.6% to $10.4 million. Founder and Chief Executive Officer Bohn Crain said adjusted gross profit rose 10.6% and adjusted EBITDA margin expanded 240 basis points from the comparable quarter a year earlier.

Fiscal-Year Results

For the full fiscal year, Radiant reported revenue of $934.4 million, up from $902.7 million in fiscal 2025. Net income attributable to the company increased 8.7% to $18.8 million, or $0.40 per basic share and $0.39 per diluted share, compared with $17.3 million, or $0.37 per basic share and $0.35 per diluted share, a year earlier.

However, adjusted results declined for the year. Adjusted net income fell 18.4% to $25.3 million, while adjusted EBITDA decreased 5.4% to $36.7 million from $38.8 million in fiscal 2025.

Chief Financial Officer Todd Macomber said fourth-quarter organic growth was approximately 8%. He said market conditions improved during the latter part of the quarter and that the company entered its fiscal first quarter with a stronger trend than it had seen previously, though he did not provide a specific outlook.

Domestic Freight Market Shows Improvement

Crain said the fourth-quarter gains were driven principally by U.S. forwarding, with contributions from domestic and international offerings. He pointed to improving conditions in truck brokerage and intermodal freight, where carrier attrition, tighter driver availability and higher fuel prices have affected capacity.

According to Crain, spot rates, tender rejections and other cyclical market indicators moved higher in the spring and continued into the June quarter. He said the developments were not fully reflected in the fourth-quarter financial results because the market shift began in late May and early June.

“We really, in my mind, kind of only have one month of the good news of what’s happening at Radiant Road & Rail in our fiscal year-end results,” Crain said. He added that the company expects the trends to continue into the September quarter and potentially beyond, depending on market conditions.

Crain said fuel costs generally are passed through to customers, although there may be modest timing lags between changes in fuel prices and customer pricing.

During the quarter, Radiant launched an independent-agent program at Radiant Road & Rail for truck brokerage and intermodal services. The program offers agents access to the company’s carrier network, technology platform and back-office infrastructure, along with an equity-building and exit framework. Crain said the early response has been positive and described it as a new organic-growth opportunity.

Navegate Adoption and International Conditions

Radiant also highlighted adoption of its Navegate technology platform. Crain said one enterprise customer is actively managing more than 1,400 vendors through the platform. He characterized Navegate primarily as a growth catalyst rather than a separate source of margin expansion.

“I think of it as winning more customers, making our customers stickier,” Crain said, adding that vendors using the system may become prospective customers themselves. The company expects its more than 100 forwarding locations to function as a broad sales channel for the platform.

On the international side, Crain said the operating environment remains complicated by trade-policy changes and shipping disruptions. He cited the closure of the Strait of Hormuz and continued Houthi activity affecting Suez Canal transits as factors keeping capacity tight on key trade lanes.

Radiant saw an increase in ocean freight rates late in the quarter as carriers exercised capacity discipline, which Crain said could indicate that a prolonged downturn in ocean pricing is beginning to stabilize. He also said evolving U.S. tariff policy and elevated IEEPA-related filing activity have increased demand for customs brokerage and compliance services.

Crain said tariff actions between the U.S. and Canada, including Canadian retaliatory measures enacted in early September, could add complexity for cross-border shippers. He said that environment may create demand for Radiant’s customs and compliance capabilities and potentially create air and ocean forwarding opportunities for its Canadian operations.

International air freight performance increased meaningfully during the quarter, aided by disaster-relief work after typhoon activity in the Western Pacific. Crain said the work was meaningful to the segment but did not solely account for its year-over-year improvement.

Credit Facility and Capital Allocation

In August 2026, Radiant completed an amended and restated $200 million senior credit facility that extends through 2031. Crain said the amendment expanded the company’s acquisition capacity by $100 million and improved pricing terms. The company entered fiscal 2027 with no net debt, he said.

Crain said the company sees an active acquisition environment following a multiyear freight recession, with potential sellers coming to market. Radiant intends to remain disciplined while pursuing opportunities that fit its strategy, including agent-station conversions, tuck-in acquisitions and, when appropriate, share repurchases.

The company also said it has established carrier-vetting processes for its brokerage operations and is taking carrier selection risks seriously amid heightened industry attention to the issue.

About Radiant Logistics (NYSEAMERICAN:RLGT)

Radiant Logistics, Inc is a third-party logistics company that provides transportation and supply chain management services to manufacturers, distributors, retailers and other commercial customers. The company operates an asset-light model, coordinating shipments through a network of company-operated locations and independent agents rather than relying primarily on its own transportation equipment.

Its services include domestic and international freight forwarding, truckload and less-than-truckload transportation, expedited shipping, air and ocean freight, customs-related services, warehousing and distribution.

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