secwatch.observer — SEC 8-K summary
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Issuer:     Pangaea Logistics Solutions Ltd. (PANL)
CIK:        0001606909
Form:       8-K
Filed at:   2021-11-09T23:59:59+00:00
Accession:  0001606909-21-000119
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606909/000160690921000119/0001606909-21-000119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606909/000160690921000119/panl-20211109.htm
  HTML page:      https://secwatch.observer/filing/0001606909-21-000119

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer