Radiant Logistics, Inc. (AMEX:RLGT) Q4 2023 Earnings Call Transcript

Bohn Crain: Yeah. I don’t want to get too far out over my skis there, but the short answer is yes. that’s certainly been the case. And just to kind of call it out, we’ve ended up passing on a number of deals over the years because people were wanting a higher portion of cash, rather the earn-out — rather than earnouts and because of kind of market dynamics, we ended up passing on some deals because we just couldn’t find a meeting of the minds with sellers around the earn-out structure. Well, in this environment, as we’re talking to more sellers, people are more willing to accept that aspect of the structure in part because of the market competition and just kind of who’s in the marketplace. But also, it’s just been an — it’s been a roller coaster ride in terms of economic cycle and peaks and valleys and what is normal and how do you value businesses in this environment?

It’s kind of acknowledging or kind of embracing an earnout structure makes all of that more digestible from our side as an acquirer.

Jason Seidl: It makes sense. Well, listen, I appreciate the time as always, I’ll turn it over to somebody else.

Bohn Crain: Thank you.

Operator: Thank you. [Operator Instructions] Okay. Looks like we don’t have any further question in queue. I’d like to turn the floor back to management for any closing remarks.

Bohn Crain: All right. Thanks, John. Let me close by saying that we remain optimistic about our prospects and opportunities to continue to leverage our best-in-class technology, robust North American footprint, an extensive global network of service partners to continue to build on the great platform we’ve created here at Radiant. At the same time, we intend to thoughtfully relever our balance sheet and through a combination of agent station conversions, synergistic tuck-in acquisitions and stock buybacks. Through our multipronged approach of organic growth, acquisitions and stock buybacks, we believe we will continue to create meaningful value for our shareholders, operating partners and the end customers that we serve. Thanks for listening and your support of Radiant Logistics.

Operator: This concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.