Pangaea Logistics Solution Ltd Stock Price, News & Analysis

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) reported a 13% decline in total revenue to $184.5 million for Q3 2022 compared to Q3 2021, with net income down 30% to $18.8 million, or $0.42 per diluted share. Adjusted net income rose 8% to $23.3 million, translating to $0.52 per diluted share. Despite a 16.2% drop in Time Charter Equivalent (TCE) rates to $24,107 per day, adjusted EBITDA increased 14% to $38.5 million, driven by improved operational efficiency. The company declared a $0.10 quarterly dividend, payable on December 15, 2022.

Pangaea Logistics Solutions (NASDAQ: PANL) will release its third quarter 2022 results after market close on November 9, 2022. A conference call is scheduled for November 10, 2022, at 8:30 a.m. ET to discuss the financial results and recent events. The call will include a Q&A session and presentation materials available on the Company’s website. Interested participants can join via a domestic or international phone line, with replays available until November 24, 2022.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) has announced the purchase of a second-hand vessel for USD 17.1 million, expanding its fleet to 25 ships. This vessel, to be named Bulk Sachuest, is expected to be delivered in September or October 2022. Pangaea operates a total fleet of 50-60 vessels globally and emphasizes its commitment to high quality and efficient tonnage, enhancing service delivery to clients. The company has operated the ship on a charter for the past year, indicating strong performance and integration into their logistics offerings.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) reported a strong second quarter 2022, with total revenue increasing by 34% year-over-year to $195.5 million. Net income rose 30% to $25.0 million or $0.56 per diluted share. Adjusted EBITDA surged 107% to $44.2 million, while operating cash flow jumped 155% to $37.2 million. The company maintained a solid TCE rate of $27,139 per day, exceeding industry averages. Pangaea declared a quarterly cash dividend of $0.075 per share.

Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) has announced it will release its second quarter 2022 financial results on August 9, 2022, after market hours. This release will accompany a presentation accessible through their SEC filing. A teleconference to discuss these results is scheduled for August 10, 2022, at 8:00 a.m. ET, including a Q&A session with management. Those interested can join the call at 800-343-5172 (domestic) or 785-424-1699 (international). A recording will be available for one week following the teleconference.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) reported robust results for Q1 2022, with a net income of $20.2 million, a substantial increase from $5.9 million in Q1 2021. Adjusted net income reached $15.7 million compared to $3.8 million year-over-year. Earnings per share (EPS) rose to $0.35 from $0.09, while diluted EPS was $0.45, up from $0.13. Total revenue soared by 53% to $191.8 million, driven by higher TCE rates of $26,472 per day. Pangaea also declared a dividend of $0.075 per share, reflecting strong financial health.

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) has appointed Brent Mahana as Vice President of Business Development for Ports & Logistics, effective May 9, 2022. Mr. Mahana brings over 30 years of experience in marine transportation and port management, aiming to expand Pangaea's services in the ports and logistics sector. Mark Filanowski noted that Mahana's addition will enhance the company's profile and align with its 'Door-to-Door' logistics vision. Pangaea provides logistics for various dry bulk cargoes and aims to strengthen client relations.

Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) will announce its first quarter 2022 financial results on May 10, 2022, after market hours. A teleconference will follow on May 11, 2022, at 8:00 a.m. ET, featuring a Q&A session with management. Participants can dial 866-518-6930 (domestic) or 203-518-9797 (international), using Conference ID: PANLQ122. A recording of the call will be available for a week afterward. Pangaea specializes in logistics solutions for dry bulk cargoes, offering services like vessel chartering and voyage planning.