Pangaea Q3 net income jumps to $27M, EPS $0.60; interim chairman appointed

Pangaea Logistics Solutions Ltd.

2021-Q3 EPS reported $1.16 revenue$483,546,127

Net income $27.0M ($0.60 diluted EPS) vs $7.6M ($0.17) a year ago; adjusted net income $21.7M.
Revenue $213M, +105% YoY; TCE rate $28,770/day vs $13,316/day.
Adjusted EBITDA $33.6M vs $15.4M in prior-year quarter.
Quarterly dividend $0.035/sh declared, payable Dec 15 to holders of record Dec 1.
Purchased 2009-built Panamax for $19.9M (Q1 2022 delivery); Richard du Moulin appointed interim chairman due to Ed Coll's sick leave.

item 2.02 item 5.02 item 9.01

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Appointed (interim)

Richard du Moulin

interim Chairman of the Board of Directors

PANL · Pangaea Logistics Solutions Ltd.

Effective: 2021-11-08
Filed: November 9, 2021, 6:59 PM ET

On November 8, 2021, the Board of Pangaea Logistics Solutions Ltd. appointed Richard du Moulin to serve as the Company's interim Chairman of the Board of Directors, effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Richard du Moulin was appointed as interim Chairman of the Board of Directors at Pangaea Logistics Solutions Ltd..

Action: appointed
Role: interim Chairman of the Board of Directors

Exact text from the filing

On November 8, 2021, the Board of Pangaea Logistics Solutions Ltd. appointed Richard du Moulin to serve as the Company's interim Chairman of the Board of Directors, effective immediately.

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Pangaea Logistics Solutions Ltd. filing history →

Source: SEC EDGAR

accession 0001606909-21-000119

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