NASDAQ$PANL
Pangaea Logistics Solutions Ltd · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Pangaea reported results for the quarter ended March 31, 2023.
Pangaea Logistics Solutions Ltd. reported a net income of $3.5 million, or $0.08 per diluted share, and adjusted net income of $5.1 million, or $0.11 per diluted share, on total revenue of $113.7 million for the quarter ended March 31, 2023. The company's TCE rate was $14,372 per day, exceeding the average Baltic Panamax and Supramax indices by approximately 48%.
- Net income attributable to Pangaea was $3.5 million, or $0.08 per diluted share.
- Adjusted net income attributable to Pangaea was $5.1 million, or $0.11 per diluted share.
- Operating cash flow was $11.6 million, a decrease of 64% year-over-year.
- Cash and cash equivalents were $129.1 million, an increase of $59.2 million year-over-year.
Headline financials
Revenue & EPS history
Pangaea · Revenue · Quarterly
$114M
Revenue by segment
Pangaea · $171M total across 3 segments · Q1 2026
- Voyage revenue$152M—89.1%
- Charter revenue$12.4M—7.3%
- Port terminal & stevedore$6.14M—3.6%
Forward guidance
Pangaea anticipates a further strengthening in market rates during the second quarter of 2023, given a combination of improved seasonal demand, strengthening activity in Asia and tightness in global shipping capacity.
Tailwinds
- Improved seasonal demand
- Strengthening activity in Asia
- Tightness in global shipping capacity
- Premium contract revenue positioning business for sequential growth
- Potential for further synergies with ocean freight offering
Headwinds
- Macroeconomic uncertainty
- Seasonal demand weakness negatively impacted market rates
- Lower market rates driving decline in Adjusted EBITDA margin
- Decline in total shipping days
- Potential disruption of shipping routes due to accidents or political events
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-0.7%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.9%
Avg return
30 days after
45%
22 / 49 earnings
Positive
+36.9%
Q1 2014
Best reaction
-19.1%
Q3 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | +4.3% | -6.9% | |
| Q4 2025 | -13.5% | -16.6% | -12.7% | |
| Q3 2025 | +18.1% | +30.8% | +45.2% | |
| Q1 2025 | +0.9% | +1.1% | +6.2% | |
| Q4 2024 | +12.2% | +13.6% | -11.2% | |
| Q3 2024 | -6.5% | -6.5% | -20.9% | |
| Q2 2024 | -0.5% | -0.8% | -4.3% | |
| Q1 2024 | -1.6% | +3.0% | +1.7% | |
| Q4 2023 | -16.3% | -19.3% | -19.9% | |
| Q3 2023 | +5.1% | +8.1% | +15.7% | |
| Q2 2023 | -12.0% | -14.7% | -23.4% | |
| Q1 2023 | +1.2% | +1.5% | +3.0% | |
| Q4 2022 | -7.4% | -15.8% | -0.2% | |
| Q3 2022 | -4.7% | -1.6% | -4.7% | |
| Q2 2022 | +9.9% | +12.1% | -4.6% | |
| Q1 2022 | +9.3% | +7.7% | +22.0% | |
| Q4 2021 | -3.3% | +4.3% | -3.0% | |
| Q3 2021 | +5.2% | -0.7% | -11.1% | |
| Q2 2021 | +0.6% | -4.9% | +8.9% | |
| Q1 2021 | -8.6% | -2.6% | +7.3% | |
| Q4 2020 | +5.9% | +4.3% | -9.3% | |
| Q3 2020 | -11.8% | -12.1% | -14.4% | |
| Q2 2020 | -3.1% | -5.5% | -15.7% | |
| Q1 2020 | -10.4% | -13.9% | -0.4% | |
| Q4 2019 | +7.6% | +12.4% | +17.6% | |
| Q3 2019 | -6.0% | -4.2% | -9.0% | |
| Q2 2019 | -3.5% | -9.3% | -6.3% | |
| Q1 2019 | +0.6% | -0.9% | -4.6% | |
| Q4 2018 | -3.3% | -6.2% | +2.4% | |
| Q3 2018 | +0.9% | -1.2% | -10.9% | |
| Q2 2018 | +7.1% | +4.8% | +3.9% | |
| Q1 2018 | +1.8% | +4.5% | -2.4% | |
| Q4 2017 | +1.7% | +0.3% | +10.0% | |
| Q3 2017 | +22.3% | +16.8% | -4.8% | |
| Q2 2017 | +0.8% | -3.5% | +2.7% | |
| Q1 2017 | +4.0% | +3.7% | -4.6% | |
| Q4 2016 | -2.1% | -1.8% | -2.9% | |
| Q3 2016 | +0.0% | +17.6% | +23.9% | |
| Q2 2016 | +1.7% | +1.3% | +1.3% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2015 | -1.7% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | -2.4% | — | — | |
| Q1 2014 | +36.9% | — | — | |
| Q4 2014 | -2.9% | — | — | |
| Q2 2014 | -2.9% | — | — | |
| Q3 2014 | -19.1% | — | — | |
| Q3 2013 | -19.1% | — | — | |
| Q4 2013 | -19.1% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro