Radiant Logistics shares jumped 16% after the company beat Q4 earnings expectations, citing strong international airfreight demand and a strategic expansion of its credit facility to fuel future growth.
Radiant Logistics beat fiscal Q4 expectations with revenue 19% higher y/y and adjusted EPS of $0.15, driving shares up 16%.
Radiant Logistics reported a strong fiscal fourth quarter, with revenue climbing 19% year-over-year to $261 million. The logistics provider outperformed consensus estimates by $30 million, driven by robust demand for international airfreight and customs brokerage services. Shares surged 16% as the company highlighted a tightening domestic freight market and an expanded credit facility to support future acquisitions.
The company benefited from high demand for customs brokerage services and disaster relief shipments in the Western Pacific, which boosted international airfreight results.
The company extended its $200 million revolving credit facility and increased its accordion feature to $100 million, specifically to facilitate future acquisitions and consolidate its position in the 3PL market.