Radiant Logistics (RLGT) released preliminary operating results for Q4 of 2022 last night. Revenue for the period climbed 54.6% from the prior year to $398.6 million, which is $23.4 million more than what analysts were expecting, while a 96.5% jump in adjusted EBITDA to $27.7 million powered a similar doubling in adjusted earnings to 40 cents per share. The latter exceeded the consensus estimate by 17 cents.

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While the impressive quarterly performance indicates demand for its services remained strong during the period, this was also tempered by the fact that the high inflation and broad-based labor shortages, which have already been heavily weighing on so many other businesses, are beginning to have a more pronounced effect on RLGT’s own operations. It’s also seeing some erosion in pricing power by asset-based carriers due to a slowing economy. And while the company did not provide any specific guidance for the new fiscal year that began in July, it believes the persistence of these recent trends would likely result in a return to more normalized operating levels and growth rates. Along with a delay in the filing of its 10-K annual report with the Securities and Exchange Commission, I believe this is why RLGT’s shares weren’t up more today on this favorable quarterly preannouncement.

Given that the company currently anticipates filing its annual report within the 15-day extension it has requested, we’re not too concerned about this issue, which is due to more time needed to evaluate the impact of certain in-transit accrued revenues and related costs that were recognized during the fiscal year ended June 30, 2022, on RLGT’s prior period financial statements. The possible softening in demand and profit growth resulting from greater inflationary cost headwinds in the face of a worsening U.S. economy is obviously more concerning. But thanks to RLGT’s nimble asset-light business model, the ability to bundle value-added services with its core transportation offerings and a healthy balance sheet (that likely got even stronger in Q4 based on the fantastic growth in adjusted EBITDA achieved in the period), the company has done an excellent job of navigating through the many challenges presented by the rapidly evolving post-pandemic marker environment. This includes helping its customers bring their supply-chains back online while dealing with an extreme shortage of transportation capacity, escalating fuel costs and port congestion.

I think that will continue in the new fiscal year and yield operating performance that remains strong enough overall to send RLGT’s stock meaningfully higher from here. This is even truer if the additional liquidity provided by the $150 million universal shelf registration filed in May (which allows RLGT to quickly raise new capital up to that amount at any time) and the new $200 million credit facility secured last month—which are both $50 million bigger than the previous shelf and revolver they replaced—is used to acquire complementary assets that can quickly pay off or to support the aggressive pace of share buybacks seen in recent quarters, which should only continue at the current price.

Taesik Yoon is the editor of Forbes Investor.