Pangaea Logistics reports Q1 net loss $2.0M, announces $15M buyback, $0.05 dividend

Pangaea Logistics Solutions Ltd.

2025-Q1 EPS reported -$0.03 revenue$122,801,886

Net loss of $2.0M ($0.03/share) vs net income of $11.7M ($0.26/share) in Q1 2024.
Adjusted EBITDA fell 24.2% to $14.8M; total revenue was $122.8M.
TCE rates of $11,390/day, down 36% YoY; shipping days up 41% from handy fleet acquisition.
Board authorized $15M share buyback (5.6% of market cap); declared $0.05 quarterly dividend payable June 16.
Cash and equivalents $63.9M; total debt $390.8M, including $100.6M assumed in acquisition.

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