Pangaea Q1 GAAP EPS $0.21, adjusted EPS $0.11; TCE rates up 34% YoY

Pangaea Logistics Solutions Ltd.

2026-Q1 EPS reported $0.21 vs consensus $0.11 ▲ beat (+94.8%)

GAAP net income $13.3M ($0.21/share); adjusted net income $7.0M ($0.11/share).
Revenue $170.6M; Adjusted EBITDA $25.2M (+70% YoY); TCE $15,252/day (+34%).
Declared quarterly dividend $0.05/share, payable June 15, record June 1.
Shipping days up 14% to 5,947; added port ops at Lake Charles & Port Aransas; sold Bulk Xaymaca for $9.6M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pangaea Logistics Solutions Ltd. reported the three months ended March 31, 2026 results: revenue total revenue of $170.6 million, net income GAAP net income attributable to Pangaea of $13.3 million, or $0.21 per share, EPS $0.21 per share.

Period: the three months ended March 31, 2026
Revenue: total revenue of $170.6 million
Net income: GAAP net income attributable to Pangaea of $13.3 million, or $0.21 per share
EPS: $0.21 per share
Result: reported results

Exact text from the filing

per common share For the three months ended March 31, 2026, Pangaea reported non-GAAP adjusted net income of $7.0 million, or $0.11 net income per share, on total revenue of $170.6 million. First quarter TCE rates increased 34% on a year-over-year basis, while total shipping days, which include both voyage and time charter days, increased 14% to 5,947 days. The

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Source: SEC EDGAR

accession 0001628280-26-033663

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