Pangaea Logistics Q2 2022 net income $25.0M ($0.56/diluted); revenue up 34% YoY to $195.5M

Pangaea Logistics Solutions Ltd.

2022-Q2 EPS reported $1.00 revenue$387,306,359

Revenue $195.5M (+34% YoY); adjusted EBITDA $44.2M (+107% YoY).
TCE rates $27,139/day (+29% YoY); operating cash flow $37.2M (+155% YoY).
Cash $102.2M (+152% YoY); net debt/adj. EBITDA 1.4x.
Quarterly dividend $0.075/share payable Sept 15, 2022 to holders of record Sept 1.
Q3-to-date booked 3,026 days at TCE $25,600/day; ice-class fleet fully deployed.

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