Radiant Logistics, Inc. (NYSE:RLGT) Q2 2024 Earnings Conference Call February 8, 2024 4:30 PM ET

Company Participants

Bohn Crain - Founder, Chairman & Chief Executive Officer

Todd Macomber - Senior Vice President & Chief Financial Officer

Conference Call Participants

Jason Seidl - TD Cowen

Mark Argento - Lake Street Capital

Kevin Gainey - Thompson Davis

Jeff Kauffman - Vertical Research Partners

Operator

Good day, everyone. 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 second fiscal quarter and six months ended December 31, 2023. Following their comments, we will open the call to questions. This conference is scheduled for 30 minutes.

This conference 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. Sir, the floor is yours.

Bohn Crain

Thank you, Alex. Good afternoon, everyone, and thank you for joining in on today's call. Our results for the quarter ended December 31, 2023, continue to reflect the difficult freight markets being experienced by the entire industry as well as our operations. This extended period of weak freight demand combined with excess capacity continues to negatively impact not only our current results but also the year-over-year comparison to our record results for the prior year period.

With that said, we remain optimistic that 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 towards the back half of calendar 2024. Notwithstanding the tough year-over-year comparisons, we continue to deliver meaningfully positive results and have generated $16.9 million in adjusted EBITDA and $12.1 million in cash from operations for the six months ended December 31, 2023.