PANL
Pangaea Logistics Solutions, Ltd.7.33
-0.06-0.81%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
478.22MP/E (TTM)
24.43Basic EPS (TTM)
0.30Dividend Yield
0.04%Recent Filings
8-K
8-K
8-K
CEO succession announced
Pangaea Logistics Solutions announced on September 17, 2025, that CEO Mark Filanowski will retire effective January 1, 2026, after eleven years steering the company through global shipping turbulence. COO Mads Petersen, with 16 years at Pangaea and over 20 in dry bulk shipping, steps up as President and CEO, joining the board the same day. Under Filanowski, the fleet tripled and terminals expanded to 10 sites. Petersen is primed to sustain growth.
8-K
Auditor switch to Deloitte
Pangaea Logistics Solutions dismissed Grant Thornton as its independent auditor on August 27, 2025, after a competitive process, and engaged Deloitte & Touche for the fiscal year ending December 31, 2025. No disagreements arose with the former auditor over accounting or auditing matters in the prior two years. A prior material weakness in revenue recognition controls persists. The switch signals fresh oversight.
10-Q
Q2 FY2025 results
Pangaea Logistics Solutions posted a $2.7 million net loss for Q2 FY2025 ended June 30, 2025, swinging from $3.7 million profit a year earlier, as revenue climbed 19% year-over-year to $156.7 million on 51% more shipping days from last December's 15-vessel acquisition, yet TCE rates dropped 25% to $12,108 amid a 31% market plunge. Operating income fell 52% to $3.7 million, with gross margins squeezed by higher voyage and vessel costs, while interest expense doubled to $6.0 million on expanded debt. Cash dipped to $59.3 million after $10.0 million operating inflow and $35.2 million financing outflows including $9.9 million dividends and $1.0 million buybacks, but free cash flow stayed positive at $7.6 million derived from operating cash minus capex. Total debt eased to $321.9 million with $104.7 million long-term secured notes maturing through 2036; post-quarter, it sold a vessel for $7.7 million and bought out Seamar Management for $2.7 million cash. Fleet growth bolsters scale. Volatility in drybulk rates remains a key risk.
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