Every 10-Q that Pangaea Logistics Solutions Ltd. (PANL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PANL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PANL filings page.
Pangaea Logistics Solutions Ltd. reported substantially stronger results for the three and six months ended June 30, 2026. Total revenue was $187.1 million for the quarter, up 19% from $156.7 million a year earlier, driven mainly by higher dry bulk freight and charter rates and supported by new port operations.
Net income attributable to Pangaea was $10.2 million for the quarter, versus a $2.7 million loss in 2025, and $23.5 million for the first half versus a $4.7 million loss. Time Charter Equivalent rates rose to $18,153 per day, 50% above the prior-year quarter and about 10% above relevant market indices, while Adjusted EBITDA more than doubled to $35.0 million. Cash, cash equivalents and restricted cash totaled $105.9 million, and total secured debt including financing obligations and finance leases, net, declined to $349.5 million from $372.2 million.
The company changed vessel depreciation assumptions effective January 1, 2026, shortening useful lives and increasing scrap values, which raised depreciation expense and reduced earnings by about $3.3 million for the first half and is expected to add $2.8 million for the rest of 2026. Pangaea sold one vessel for approximately $9.6 million, recognizing a modest write-down, remained in compliance with all debt and financing covenants, and paid $7.1 million of dividends in the first half. A further quarterly dividend of $0.10 per share was declared on August 6, 2026.
Pangaea Logistics Solutions Ltd. reported a strong turnaround for the three months ended March 31, 2026. Total revenue rose to $170.6 million from $122.8 million, driven by higher dry bulk freight rates, more voyage days, and nearly doubled terminal and stevedore revenue.
Net income attributable to Pangaea was $13.3 million, compared with a $2.0 million loss a year earlier, with diluted EPS moving to $0.21 from a loss of $0.03. TCE rates increased to $15,252 per day from $11,390, and Adjusted EBITDA grew to $25.2 million from $14.8 million.
Cash, cash equivalents and restricted cash were $90.0 million, while total secured debt including financing obligations and finance leases was $360.0 million and stockholders’ equity was $486.8 million. A change in vessel depreciation estimates reduced quarterly net income by about $1.6 million, or $0.03 per share. The board also declared a subsequent quarterly cash dividend of $0.05 per share.
Pangaea Logistics Solutions (PANL) reported third‑quarter 2025 results. Total revenue rose to $168.7 million from $153.1 million, and net income attributable to Pangaea increased to $12.2 million from $5.1 million. Diluted EPS was $0.19 versus $0.11. Adjusted EBITDA was $28.9 million compared with $24.0 million. Time Charter Equivalent rates were $15,559, down from $16,324, reflecting softer market rates even as shipping days expanded on a larger fleet.
Cash, cash equivalents and restricted cash were $94.3 million at quarter‑end. Year‑to‑date, operating cash flow was $38.6 million, the company paid $13.1 million in dividends, and repurchased 403,400 shares for approximately $2.0 million. Subsequent to quarter‑end, the board declared a $0.05 per‑share dividend and the company agreed to sell the M/V Bulk Freedom for $9.6 million, with an estimated gain of about $2.8 million. Common shares outstanding were 64,973,688 as of November 4, 2025.
Pangaea Logistics Solutions Ltd. reported higher revenue driven by fleet expansion but weaker freight rates that reduced profitability. Total consolidated revenue for the three months ended June 30, 2025 was $156.7 million, up 19% versus $131.5 million a year earlier, driven by a 51% increase in shipping days after the December 2024 vessel acquisition. Time Charter Equivalent rates declined to $12,108/day, down 25% year-over-year, which compressed margins.
The company recorded income from operations of $3.7 million and a net loss attributable to Pangaea of approximately $2.7 million for the quarter (basic EPS $(0.04)). Cash and cash equivalents were $59.3 million at period end, total secured debt including leases was $375.8 million, and financing obligations, net were $217.1 million. The company remained in compliance with debt covenants, authorized a $15.0 million repurchase program and subsequently declared a $0.05 per share quarterly dividend.