Radiant Logistics, Inc. (AMEX:RLGT) Q4 2022 Earnings Call Transcript

But all of those things are coming back online now. And so while it’s been relatively quiet in the scheme of things, we see I guess what you would call green shoots in that activity. And so hopefully, that’ll begin to work its way back to something that we all would be happier with.

Jeff Kauffman: And I guess when you’re talking about the domestic business, green shoots, I remember during COVID, we were talking about how the trade show business and the cruise line business just wasn’t there obviously, because we were all locked down. And I’m seeing a lot of cruise ship commercials on TV, and it seems like Las Vegas and Orlando are pretty busy again. I’m assuming that’s kind of a green shoot for you as well right now, or have we anniversaried that or is that still accelerating in your book?

Bohn Crain: That is, but even beyond that just our core time definite North America domestic footprint and all the business we do is doing pretty well.

Jeff Kauffman: Okay, great. Well, thank you for hosting this call and thank you for answering the questions.

Bohn Crain: You bet. Thanks, Jeff.

Operator: Up next we have Jason Seidl with TD Cowen. Jason, please proceed.

Jason Seidl: Thanks, operator. Bohn, Todd, I think you guys could have played the Welcome Back, Kotter theme here. So I’m glad to have you back.

Bohn Crain: Damn, I wish I would have thought of that.

Jason Seidl: You got to call me next time. I’ll give you some good theme music ideas. Just a couple quick questions on my end here. You talked about not having any net debt. That puts you in a very enviable position, but you don’t want to have a net debt position for too, too long. So about how long between now and you get getting back to some of those 2x, 2.5x I think that you talked about in terms of what you’re comfortable with, and if there are no acquisitions out there in the marketplace that suit your needs, should we just assume that you use or maybe just buy back stock?

Bohn Crain: Yes.

Jason Seidl: Okay. That’s fair enough. And the other thing, obviously the restatement, a very painful process for you guys, but did it uncover anything that you sort of needed to do in terms of increasing your financial controls? And if so, what were those?

Bohn Crain: So I think the short answer is absolutely. We can always get better at what we do and kind of the stress test of the volumes and delays and all of those types of things, identified areas where there was room for improvement. And so we’re working on those. Kind of getting into the specifics, it really gets down to interacting with all of our various operating locations or nodes of the network and getting more engaged kind of with the field to make sure they’re giving us the right data inputs to be able to do a better job with our estimates.

Jason Seidl: So I guess it’s safe to say that, although painful coming out of this, you guys are stronger than when you went in?

Bohn Crain: Without a doubt, absolutely.

Jason Seidl: Perfect. Well, gentlemen those are my two there. Good to hear your voices again.

Bohn Crain: Good to hear yours too. Thanks, Jason.

Operator: The next question comes from Mike Vermut with Newland Capital. Please proceed.