Pangaea Q4 2019 Earnings Report
Key Takeaways
Pangaea Logistics Solutions Ltd. reported a net loss of $4.4 million for Q4 2019, which included $9.3 million in losses from vessel impairments and sales. However, non-GAAP adjusted net income attributable to Pangaea Logistics Solutions Ltd. was $4.4 million, compared to $3.7 million in the same period of 2018. Total revenue increased to $130.5 million from $101.8 million in Q4 2018.
Net loss of $4.4 million, including $9.3 million in vessel impairment and sale losses.
Non-GAAP adjusted net income was $4.4 million, up from $3.7 million year-over-year.
Adjusted earnings per share was $0.10, compared to $0.09 in the same period of 2018.
Total revenue increased to $130.5 million, compared to $101.8 million year-over-year.
Pangaea
Pangaea
Pangaea Revenue by Segment
Forward Guidance
Due to the unprecedented and uncertain conditions caused by the coronavirus (COVID-19) global pandemic, and the potential impact responses might have on the Company's short term earnings and cash flow, the Board of Pangaea Logistics Solutions Ltd., as a precautionary measure, will not declare and pay a dividend for the first quarter of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income