---
schema_version: "secwatch.filing_event.v1"
accession: "0001606909-25-000157"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:42:57.173927+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pangaea Q3 adj. EPS $0.17, TCE $15,559/day, adjusted EBITDA $28.9M (+20% YoY)

## Summary
- GAAP net income $12.2M ($0.19/sh), adjusted net income $11.2M ($0.17/sh); revenue $168.7M.
- TCE rates $15,559/day, down 5% YoY but exceeded Baltic Panamax/Supramax/Handysize indices by 10%.
- Adjusted EBITDA $28.9M, up 20.3% YoY; margin improved to 17.1% from 15.7%.
- Declared $0.05/share quarterly dividend payable Dec 15, record Dec 1.
- Sold Strategic Endeavor for $7.7M; agreed to sell Bulk Freedom for $9.6M (expected Q4).

## SEC filing metadata
- accession: 0001606909-25-000157
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000157/0001606909-25-000157-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000160690925000157/panl-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001606909-25-000157
- JSON: https://secwatch.observer/filing/0001606909-25-000157.json
- Plain text: https://secwatch.observer/filing/0001606909-25-000157.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.