Radiant Logistics beats FQ2 expectations

Core Insights - Radiant Logistics exceeded quarterly expectations, with management noting that customers are becoming increasingly optimistic despite soft international ocean volumes [1] - The company is successfully rolling out Navegate, a proprietary global trade management platform, which is expected to drive organic growth [2] Financial Performance - Radiant reported revenue of $232 million for the fiscal second quarter, a decrease of $32 million year-over-year, and $3 million below consensus estimates [3] - Adjusted net income was $8.1 million, or 17 cents per share, which was 9 cents above consensus but 5 cents lower year-over-year [4] - The adjusted EBITDA was $11.8 million, down 2% year-over-year, impacted by a $5.9 million headwind from the previous year's hurricane project [4] Cash Position and Future Plans - The company ended the quarter with $32 million in cash, exceeding its debt and finance lease obligations by nearly $1 million [5] - Radiant has a $200 million credit facility to support stock buybacks, acquisitions, and converting third-party agent stations into company-owned operations [5] - Shares of RLGT rose 7.4% in after-hours trading following the earnings report [5]