Loading...
Pangaea Q1 2025 Earnings Report
Pangaea Logistics Solutions Ltd. reported a net loss of $2.0 million for the first quarter of 2025, with total revenue of $122.8 million.
Key Takeaways
Pangaea Logistics Solutions Ltd. experienced a net loss in Q1 2025, primarily due to decreased market freight and time charter hire rates, despite an increase in shipping days due to the acquisition of handy-sized vessels.
Net loss attributable to Pangaea was $2.0 million, or $0.03 per share.
Total revenue for the quarter was $122.8 million.
Adjusted EBITDA decreased by 24.2% to $14.8 million.
The company's TCE rates were $11,390 per day, a 36% decrease year-over-year, but exceeded benchmark indices by 33%.
Pangaea
Pangaea
Pangaea Revenue by Segment
Revenue by Segment
Voyage Revenue
CapyFin.comCharter Revenue
CapyFin.comTerminal & Stevedore Revenue
CapyFin.com Forward Guidance
Pangaea Logistics Solutions Ltd. is focused on integrating its newly acquired Handysize fleet, expanding terminal operations, and maintaining a disciplined capital allocation strategy, including a new share repurchase program.
Positive Outlook
- Integration of the Handysize fleet is progressing, expected to unlock operational efficiencies.
- Advancing terminal operations expansion at the Port of Tampa, anticipated completion in H2 2025.
- Board authorized a new $15 million share repurchase program, representing 5.6% of market capitalization.
- Company maintains a cargo-focused strategy and long-term contracts, supporting premium TCE rates.
- Demand for core dry bulk commodities has remained resilient, and trade routes largely insulated from tariffs.
Challenges Ahead
- Uncertainty and volatility continue to characterize the global trade environment.
- Market freight and time charter hire rates decreased, impacting TCE earnings.
- The dry bulk market is navigating uncharted waters.
- The company's decision to repurchase shares will depend on various factors, including capital needs and market conditions.
- Revised U.S. Trade Representative proposals on port fees will not negatively impact fleet operations, but general trade policy dynamics could introduce volatility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income