---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-055346"
form_type: "8-K"
ticker: "PANL"
cik: "0001606909"
company_name: "Pangaea Logistics Solutions Ltd."
filed_at: "2026-08-10T21:12:18+00:00"
generated_at: "2026-08-10T21:14:20.474016+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pangaea Q2 2026: GAAP EPS $0.16, adjusted $0.26; TCE up 50% YoY

## Summary
- Revenue $187.1M (Q2 2025: $156.7M); GAAP net income $10.2M vs. loss $2.7M; adjusted net income $16.9M vs. loss $1.4M.
- Adjusted EBITDA $35.0M, +125.1% YoY; margin 18.7% vs. 9.8%; TCE $18,153/day, 10% above Baltic Panamax/Supramax/Handysize indices.
- Declared $0.10/share dividend, payable Sept 15, 2026 to holders of record Sept 1, 2026.
- Sold 2006-built Bulk Xaymaca for $9.6M in Q2; started Port Tampa Bay operations during the quarter.
- Q3-to-date: 4,873 shipping days at average TCE $20,258/day; cash $105.7M, net debt/EBITDA 2.1x.

## SEC filing metadata
- accession: 0001628280-26-055346
- form_type: 8-K
- ticker: PANL
- cik: 0001606909
- company_name: Pangaea Logistics Solutions Ltd.
- filed_at: 2026-08-10T21:12:18+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/1606909/000162828026055346/0001628280-26-055346-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606909/000162828026055346/panl-20260810.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-055346
- JSON: https://secwatch.observer/filing/0001628280-26-055346.json
- Plain text: https://secwatch.observer/filing/0001628280-26-055346.txt

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