Here is why Radiant Logistics Inc. (RLGT) stock popup in the after-hours on Monday?

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TMDI stock
TMDI stock

Radiant Logistics Inc. (RLGT) shares surged 8.17% in after-hours on Monday, August 30, 2021, and closed the daily trading at $7.15. In the regular trading session of Monday, RLGT’s stock lost 0.90%. RLGT shares have risen 20.18% over the last 12 months, and they have moved up 2.32% in the past week. Over the past three months, the stock has lost 14.71%, while over the past six months, it has shed 5.30%. The company has a current market of $322.90 million and its outstanding shares stood at 50.03 million.

Let’s have a look at its recent developments.

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RLGT recent financial results announcement

On August 30, 2021, Radiant Logistics, Inc. (RLGT) announced preliminary unaudited financial results for the fourth quarter ended June 30, 2021.

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Q4 2021 financial highlights

  • RLGT reported estimated revenue of 9 million for the fourth fiscal quarter ended June 30, 2021, compared to revenues of $275.5 million for Q4 2020.
  • It is expecting a record net income of $10.9 million, or $0.22per basic and $0.21 per fully diluted share for Q4 2021, compared to net income attributable to common stockholders of $4.7 million, or $0.09 per basic and fully diluted share in Q4 2020.
  • Adjusted EBITDA estimated at a record $14.1 million, compared to adjusted EBITDA of $13.1 million for the comparable prior-year period.

RLGT new Board member

On June 3, 2021, Radiant Logistics, Inc (RLGT) announced the appointment of Kristin Toth Smith to its Board of Directors. Ms. Smith assumed her position with the Board effective immediately and will further join the Company’s Audit and Executive Oversight Committee at the Company’s 2021 annual meeting.

Q3 2021 financial results announcement

On May 10, 2021, Radiant Logistics, Inc. (RLGT) reported financial results for the three and nine months ended March 31, 2021.

Q3 2021 financial highlights

  • RLGT reported revenue of $236.5 million for Q3 2021 compared to $177.2 million for the comparable prior-year period.
  • Total operating expenses were $231.0 million for Q3 2021 compared to $176.5 million in Q3 2020.
  • Net income was $5.0 million, or $0.10per basic and fully diluted share in Q3 2021 compared to net income of $0.1 million, or $0.00 per basic and fully diluted share for the comparable prior-year period.
  • Adjusted EBITDA was $9 million for Q3 2021 compared to adjusted EBITDA of $6.1 million for Q3 2020.

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Conclusion

RLGT stock went up on Monday after-hours due to its top-notch financial results which were announced yesterday. Let’s see how it performs on Tuesday?

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