Pangaea Q1 2022 Earnings Report
Key Takeaways
Pangaea Logistics Solutions Ltd. reported a strong first quarter in 2022, with net income attributable to Pangaea Logistics Solutions Ltd. reaching $20.2 million, compared to $5.9 million for the same period in 2021. The company's TCE rates were $26,472 per day, and adjusted EBITDA was $31.3 million.
Net income attributable to Pangaea Logistics Solutions Ltd. was $20.2 million, compared to $5.9 million for the same period of 2021.
Adjusted earnings per share was $0.35, compared to $0.09 for the same period of 2021.
Pangaea's TCE rates were $26,472 per day, compared to $16,524 per day for the same period of 2021.
Adjusted EBITDA was $31.3 million, compared to $12.1 million for the same period of 2021.
Pangaea
Pangaea
Forward Guidance
Pangaea is focused on its ports and terminals businesses, especially in areas of tremendous growth, and is ready to adjust its business model to capitalize on new opportunities from disruptions.