earnings
confidence high
sentiment positive
materiality 0.65
Pangaea Q2 net income $3.7M ($0.08/diluted); revenue $131.5M; dividend $0.10
Pangaea Logistics Solutions Ltd.
2024-Q2 EPS reported
$0.33
revenue$236,246,405
- Net income attributable to Pangaea $3.7M ($0.08 diluted); adjusted net income $4.6M ($0.10 diluted).
- Revenue $131.5M; TCE rates $16,223/day, up 4% YoY; shipping days up 2% to 4,117.
- Adjusted EBITDA $15.9M flat YoY; margin 12.1% vs 13.5% prior year; net debt/EBITDA 2.1x.
- Declared quarterly dividend $0.10/share, payable Sept 16, 2024, record Sept 2.
- Acquired two 2016-built vessels for $56.6M; owned fleet expands to 26; booked 3,298 Q3 days at $17,978/day TCE.