secwatch.observer — SEC 8-K summary
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Issuer:     Pangaea Logistics Solutions Ltd. (PANL)
CIK:        0001606909
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001606909-24-000085
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pangaea Q2 net income $3.7M ($0.08/diluted); revenue $131.5M; dividend $0.10
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606909/000160690924000085/0001606909-24-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606909/000160690924000085/panl-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001606909-24-000085

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