Earnings ·
Reports Q3 net income of $38.3M, declares $0.10 quarterly dividend
PANLPangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions reported GAAP net income attributable to shareholders of $38.3 million, or $0.59 per share, for the third quarter ended September 30, 2026. Adjusted net income was $33.6 million, or $0.52 per share, driven by a 31% year-over-year increase in Time Charter Equivalent rates to $20,414 per day and an 81% rise in Adjusted EBITDA to $52.4 million. The company also declared a quarterly cash dividend of $0.10 per common share, payable on December 15, 2026, to shareholders of record as of December 1, 2026. Pangaea Logistics Solutions Ltd. provides comprehensive maritime logistics solutions and dry bulk transportation services.