Recap: Pangaea Logistics Solns Q2 Earnings

Shares of Pangaea Logistics Solns PANL increased in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 222.22% year over year to $0.29, which beat the estimate of $0.21.

Revenue of $145,544,000 rose by 106.75% year over year, which missed the estimate of $160,200,000.

Looking Ahead

Pangaea Logistics Solns hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $5.39

Company's 52-week low was at $2.08

Price action over last quarter: Up 40.06%

Company Overview

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The firm's services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.