secwatch.observer — SEC 8-K summary
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Issuer:     Pangaea Logistics Solutions Ltd. (PANL)
CIK:        0001606909
Form:       8-K
Filed at:   2022-03-16T23:59:59+00:00
Accession:  0001606909-22-000030
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606909/000160690922000030/0001606909-22-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606909/000160690922000030/panl-20220316.htm
  HTML page:      https://secwatch.observer/filing/0001606909-22-000030

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