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Sep 30, 2023
Pangaea Q3 2023 Earnings Report
Announced results for the three months ended September 30, 2023.
Key Takeaways
Pangaea Logistics Solutions reported a net income of $18.9 million, or $0.42 per diluted share, and adjusted net income of $14.4 million, or $0.32 per diluted share, on total revenue of $135.6 million for the third quarter ended September 30, 2023. The company's TCE rates exceeded the average Baltic Panamax and Supramax indices by 49%.
Net income attributable to Pangaea was $18.9 million, or $0.42 per diluted share.
Adjusted net income attributable to Pangaea was $14.4 million, or $0.32 per diluted share.
Operating cash flow was $16.3 million.
The company announced the sale of the Bulk Trident for $9.8 million in October 2023.
Revenue by Segment
Forward Guidance
As of November 7, 2023 the Company has performed and booked approximately 2,715 total shipping days generating a TCE of $19,000 per day for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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