Pangaea Q2 net loss $2.7M (adj. loss $0.02/shr) on $156.7M revenue; TCE rates fall 25% YoY

Pangaea Logistics Solutions Ltd.

2025-Q2 EPS reported -$0.07 vs consensus $0.00 ▼ miss (-2158.8%)

Net loss $2.7M ($0.04/shr) vs. net income $3.7M ($0.08/shr) in Q2 2024; adjusted net loss $1.4M ($0.02/shr).
Revenue $156.7M, up 19% YoY, driven by 51% increase in shipping days to 6,222 from handysize fleet acquisition.
TCE rate $12,108/day, down 25% YoY; Adjusted EBITDA $15.3M, down 4.1% YoY; margin 9.8% vs 12.1%.
Declared $0.05/shr dividend (payable Sept 15, record Sept 2) and repurchased 202,822 shares in Q2.
Sold Strategic Endeavor for $7.7M (closed July 2025) and bought remaining 49% of Seamar Management for $2.7M.

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