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Radiant Logistics Expands M&A Firepower With Enhanced Credit Facility

Radiant Logistics reported fiscal first-quarter revenue of $280 million, up 23% year-over-year and $34 million ahead of consensus estimates. Net income reached $12.6 million, or 18 cents per share, representing a 9-cent year-over-year improvement and 6-cent beat versus expectations. Adjusted EBITDA margin expanded 630 basis points to 17%, driven by transportation management system consolidation and airfreight volumes tied to disaster relief activities. The company benefited between $1 million and $2 million from these activities but was offset by a $3.3 million credit loss tied to the First Brands bankruptcy. The third-party logistics provider ended the period with no net debt. In August, Radiant extended its $200 million revolving credit facility by five years while increasing the accordion acquisition feature from $75 million to $100 million. CEO Bohn Crain cited the enhanced financial flexibility to pursue disciplined acquisitions while capitalizing on domestic freight recovery and managing global trade volatility. Recent acquisitions include Whitacre Logistics Services' Dallas brokerage arm in October, Transcon Shipping, and a majority stake in Mexico City-based Weport. The company also continues converting agent stations into company-owned operations.