secwatch.observer — SEC 8-K summary
======================================

Issuer:     Pangaea Logistics Solutions Ltd. (PANL)
CIK:        0001606909
Form:       8-K
Filed at:   2026-08-10T21:12:18+00:00
Accession:  0001628280-26-055346
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606909/000162828026055346/0001628280-26-055346-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606909/000162828026055346/panl-20260810.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-055346

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer