Pangaea Logistics Solutions Ltd. (PANL) Form 10-Q — Aug 10, 2026
Pangaea Logistics Solutions returned to profitability in Q2 2026, reporting net income attributable to the company of approximately $10.2 million, or $0.16 per diluted share, versus a net loss of about $2.7 million, or $0.04 per share, in the year-ago quarter. Total revenue rose 19% year over year to $187.1 million. The swing was driven by surging dry bulk freight markets: the company's time charter equivalent rate jumped 50% to $18,153 per day, outperforming the average of the Baltic Panamax, Supramax and Handysize indexes by roughly 10%, while the Baltic Dry Index averaged 2,751, up about 87% year over year. Adjusted EBITDA more than doubled to $35.0 million from $15.6 million.
Key figures
- Eps
- 0.16
- Revenue
- 187119000
- Net Income
- 10201000
- Total Debt
- 349487000
- Revenue Yoy
- 19%
- Total Assets
- 956677000
- Cash Position
- 105675000
- Shares Outstanding
- 65473772
- Tce Growth Q2
- 50%
- Diluted EPSQ2
- 0.16
- Restricted Cash
- 270000
- Working Capital
- 73800000
- Dividends Paid H1
- 7114000
- Six Month Revenue
- 357699000
- Tce Rate Q2 Per Day
- 18153
- Adjusted EBITDAH1
- 60212000
- Adjusted EBITDAQ2
- 35013000
- Bdi Average Q2 2025
- 1467
- Bdi Average Q2 2026
- 2751
- Six Month Diluted EPS
- 0.36
- Operating Cash Flow H1
- 25878000
- Six Month Revenue Growth
- 28%
- Tce Rate Prior Year Q2 Per Day
- 12108
- Adjusted EBITDAQ2 Prior Year
- 15554000
- Vessel Sale Proceeds May2026
- 9600000
- Unrealized Derivative Loss Q2
- 6696000
- Six Month Net Income Attributable
- 23496000
- Expected Drydocking Costs H2 2026
- 14000000
- Depreciation Increase From Estimate Change H1
- 3300000
- Depreciation Increase From Estimate Change Q2
- 1600000
Price after filing
Close on the filing date to close N calendar days later (from $7.42). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.