RLGT - Radiant Logistics Looks Cheap But The Core Market Remains Under Pressure (Rating Downgrade)
2024-06-03 16:06:34 ET
Summary
- The company’s revenues declined by 24.4% year on year to $184.6 million while the operating income was negative in Q3 FY24.
- Radiant Logistics is operating in a challenging market, and I think Q4 FY24 could be another tough quarter.
- The company still looks undervalued, and I think it could book an EBITDA of about $44 million by FY26.
Introduction
I've been following US freight forwarder Radiant Logistics, Inc. ( RLGT ) closely, and I've written a total of 7 articles about the company on Seeking Alpha to date. The latest one came out in March 2024 and back then I said that Radiant Logistics was navigating a tough US freight market as the TTM adjusted EBITDA margin was close to 15% in Q2 FY24....
Radiant Logistics Looks Cheap But The Core Market Remains Under Pressure (Rating Downgrade)