Radiant Logistics, Inc. (NYSE:RLGT) Q4 2023 Earnings Conference Call September 13, 2023 4:30 PM ET

Company Participants

Bohn Crain - Founder & CEO

Todd Macomber - CFO

Conference Call Participants

Jason Seidl - TD Cowen

Operator

Greetings. Welcome to the financial discussion for Fourth Fiscal Quarter and Year-Ended June 30, 2023 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

This afternoon, Bohn Crain, Radiant Logistics' Founder and CEO; and Radiant's Chief Financial Officer, Todd Macomber, will provide a general business update and discuss financial results for the company's fourth fiscal quarter and year ended June 30, 2023. Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes.

This conference call may include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. The company has based these forward-looking statements on its current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the company that may cause the company's actual results or achievements to be materially different from the results or achievements expressed or implied by such forward-looking statements.

While it is impossible to identify all the factors that may cause the company's actual results or achievements to differ materially from those set forth in our forward-looking statements, such factors include those that have in the past and may in the future be identified in the company's SEC filings and other public announcements, which are available on the Radiant website at www.radiantdelivers.com. In addition, past results are not necessarily an indication of future performance.

Now, I'd like to pass the call over to Radiant's Founder and CEO, Bohn Crain.

Bohn Crain

Thank you, John. Good afternoon, everyone, and thank you for joining in on today's call. Our results for the quarter and year-ended June 30, 2023, continue to reflect the macroeconomic effects of the difficult freight markets on the entire transportation sector as well as our own operations. The confluence of shippers continuing to manage through elevated inventories, reduced imports and a slowing economic growth has had a cascading effect across virtually every mode of transportation.

As in the prior quarter, these market conditions have negatively impacted not only our current results, but also the year-over-year comparison to our record results from the prior year period. With that said, we believe we are at or near the bottom of the cycle and we would expect markets to begin to find their way to more sustainable and normalized levels in coming quarters. And while our results are down comparatively, I view the fact that we generated over $9 million in adjusted EBITDA for the quarter in this very difficult market as a positive indicator for Radiant and our prospects as we continue through this cycle.