---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-033663"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2026-05-11T21:13:27+00:00"
generated_at: "2026-05-11T21:27:20.493012+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-033663
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2026-05-11T21:13:27+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606909/000162828026033663/0001628280-26-033663-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000162828026033663/panl-20260511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-033663
- JSON: https://secwatch.observer/filing/0001628280-26-033663.json
- Plain text: https://secwatch.observer/filing/0001628280-26-033663.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1606909/000162828026033663/0001628280-26-033663-index.htm

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