Pangaea Logistics Q1 adjusted EPS meets estimates

Pangaea Logistics Solutions

11/05/2026 22:12

Overview

Global dry bulk logistics provider's Q1 adjusted EPS met analyst expectations

Company attributed growth to strong shipping demand and expanded port operations

Company declared quarterly cash dividend of $0.05 per share

Outlook

Company says dry bulk market fundamentals remain constructive, supported by Chinese iron ore and Indonesian coal demand

Pangaea reports 4,051 shipping days so far in Q2 at average TCE of about $18,808 per day

Company remains focused on commercial discipline, efficient execution, and expanding ocean freight and shore side capabilities

Result Drivers

HIGHER TCE RATES - Q1 TCE rates rose 34% year-over-year, supported by strong shipping demand and a 54% increase in chartered-in fleet, per CEO Mads Boye Petersen

TCE PREMIUM TO MARKET - Specialized fleet, long-term contracts and cargo-focused strategy led to TCE rates 20% above benchmark indices

PORT OPERATIONS EXPANSION - Addition of new port locations in Lake Charles and Aransas contributed to growth in port and terminal operations

Company press release: ID:nPn15W2Qta

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$170.60 mln
$168.18 mln (2 Analysts)
Q1 Adjusted EPS
Meet
$0.11
$0.11 (3 Analysts)
Q1 EPS
$0.21
Q1 Adjusted Net Income
$7 mln
Q1 Net Income
$13.30 mln
Q1 Adjusted EBITDA
$25.20 mln
$23.06 mln (2 Analysts)
Q1 Adjusted EBITDA Margin
14.80%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the marine freight & logistics peer group is "buy"

Wall Street's median 12-month price target for Pangaea Logistics Solutions Ltd is $10.80, about 37.8% above its May 8 closing price of $7.84

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)