---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-22-000030"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2022-03-16T23:59:59+00:00"
generated_at: "2026-06-26T22:22:19.200981+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pangaea Logistics Q4 net income $15.2M, adjusted EPS $0.56; record FY 2021

## Summary
- Q4 2021 net income $15.2M vs $7.6M in Q4 2020; diluted EPS $0.34 vs $0.17.
- FY 2021 net income $67.2M vs $11.4M; revenue $718.1M (+88% YoY); TCE $25,056/day (+102%).
- Adjusted EBITDA $38.0M in Q4, $105.1M for FY; cash from operations $61.7M.
- Cash and cash equivalent $56.2M at Dec 31, 2021; working capital improved to $72.2M.
- Declared $0.05/share dividend paid March 15, 2022; acquired four newbuild Ice Class vessels in 2021.

## SEC filing metadata
- accession: 0001606909-22-000030
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2022-03-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690922000030/0001606909-22-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690922000030/panl-20220316.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-22-000030
- JSON: https://secwatch.observer/filing/0001606909-22-000030.json
- Plain text: https://secwatch.observer/filing/0001606909-22-000030.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.