secwatch.observer — SEC 8-K summary
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Issuer:     Pangaea Logistics Solutions Ltd. (PANL)
CIK:        0001606909
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001606909-23-000114
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pangaea Q2 net income $2.8M ($0.06/diluted), revenue $118M; TCE rates down 43% YoY
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- Net income attributable to Pangaea $2.8M ($0.06 diluted); adjusted net income $4.6M ($0.10 diluted).
- Revenue $118.1M; TCE rates $15,558/day (-43% YoY); adjusted EBITDA $15.9M (-64% YoY).
- Acquired Bulk Prudence (61,000 dwt) for $26.6M cash and port terminal ops in FL and MD.
- Declared $0.10/share quarterly dividend, payable Sept 15, record Sept 1.
- Q3 guidance: ~3,500 shipping days booked at TCE $16,700/day.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606909/000160690923000114/0001606909-23-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606909/000160690923000114/panl-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001606909-23-000114

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