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RLGT - Radiant Logistics: Solid Q2 FY23 Results Net Debt Is Negative Now
Radiant Logistics Inc.
2023-03-28 20:59:19 ET
Summary
The company booked gross revenues of $278.1 million and adjusted EBITDA of $15.3 million for Q2 FY23, which was above my expectations.
In addition, net cash provided by operating activities stood at $40.9 million, and Radiant Logistics has no net debt for the first time in its history.
The normalized annual run rate EBITDA is about $55 million to $60 million, and I think it could increase to $70 million with the purchase of one or two competitors.