{"schema_version":"secwatch.filing_event.v1","accession":"0001606909-24-000036","form_type":"8-K","ticker":"PANL","cik":"0001606909","company_name":"Pangaea Logistics Solutions Ltd.","filed_at":"2024-03-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.794143+00:00","generated_at":"2026-06-04T22:19:36.306147+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Pangaea Q4 net income $1.1M, adj $7.4M; TCE beats indices 27%; FY net $26.3M","bullets":["Q4 net income $1.1M ($0.03 diluted EPS); adjusted net income $7.4M ($0.16 diluted EPS).","Q4 total revenue $131.9M; adjusted EBITDA $19.7M (14.9% margin vs 21% prior year).","Q4 TCE $17,685/day, down 11.7% YoY, but beat Baltic Panamax and Supramax indices by 27%.","Full year 2023: net income $26.3M ($0.58 diluted EPS); adjusted $31.4M ($0.69 EPS); revenue $499.3M.","Cash $99M; net debt/EBITDA 2.12x; quarterly dividend $0.10/share declared for March 15, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001606909-24-000036","json":"https://secwatch.observer/filing/0001606909-24-000036.json","markdown":"https://secwatch.observer/filing/0001606909-24-000036.md","text":"https://secwatch.observer/filing/0001606909-24-000036.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1606909/000160690924000036/0001606909-24-000036-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1606909/000160690924000036/panl-20240313.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T22:19:36.306147+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"300189a790d0ab8f69664dc21e79085ffd307667","claim":"Pangaea Logistics Solutions Ltd. reported year ended December 31, 2023 results: revenue $499.3 million, net income $31.4 million, EPS $0.69 per diluted share.","evidence_excerpt":"For the full year ended December 31, 2023, Pangaea reported non-GAAP adjusted net income of $31.4 million or $0.69 per diluted share, on total revenue of $499.3 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1606909/000160690924000036/0001606909-24-000036-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2023"},{"label":"Revenue","value":"$499.3 million"},{"label":"Net income","value":"$31.4 million"},{"label":"EPS","value":"$0.69 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"956e8b3c9a0b9c29e02b31dadee011ab4502fe6c","claim":"Pangaea Logistics Solutions Ltd. reported three months ended December 31, 2023 results: revenue $131.9 million, net income $7.4 million, EPS $0.16 per diluted share.","evidence_excerpt":"For the fourth quarter ended December 31, 2023, Pangaea reported non-GAAP adjusted net income of $7.4 million, or $0.16 per diluted share, on total revenue of $131.9 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1606909/000160690924000036/0001606909-24-000036-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended December 31, 2023"},{"label":"Revenue","value":"$131.9 million"},{"label":"Net income","value":"$7.4 million"},{"label":"EPS","value":"$0.16 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}