Pangaea Logistics Solutions Ltd. income statement
In fiscal 2025, Pangaea Logistics Solutions Ltd. reported revenue of $632m, up 17.8% on the year before, operating income of $40.9m (a 6.5% margin) and net income of $19.4m, or $0.30 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 392 | 398 | 287 | 238 | 385 | 373 | 412 | 383 | 718 | 700 | 499 | 537 | 632 | 710 |
| General and administrative | 12 | 13 | 15 | 13 | 15 | 16 | 17 | 16 | 19 | 20 | 23 | 25 | 31 | 36 |
| Operating income | 21 | −2 | 21 | 13 | 16 | 36 | 23 | 20 | 79 | 106 | 45 | 48 | 41 | 66 |
| Interest expense | 5 | 6 | 5 | 5 | 8 | 9 | 9 | 8 | 10 | 16 | 17 | 17 | 24 | — |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | — |
| Net income | 15 | −12 | 11 | 7 | 8 | 18 | 12 | 11 | 67 | 79 | 26 | 29 | 19 | 48 |
| Diluted EPS | −$0.65 | −$1.61 | $0.32 | $0.21 | $0.20 | $0.42 | $0.27 | $0.26 | $1.50 | $1.76 | $0.58 | $0.63 | $0.30 | $0.73 |
| Diluted shares (average) | 13m | 19m | 35m | 35m | 39m | 43m | 43m | 44m | 45m | 45m | 45m | 46m | 65m | 65m |
| EBITDA | 31 | 9 | 33 | 27 | 32 | 54 | 42 | 37 | 102 | 135 | 75 | 79 | 83 | 112 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 153 | 147 | 123 | 157 | 169 | 184 | 171 | 187 |
| General and administrative | 6 | 6 | 7 | 7 | 10 | 7 | 10 | 9 |
| Operating income | 15 | 15 | 3 | 4 | 17 | 17 | 10 | 21 |
| Net income | 5 | 8 | −2 | −3 | 12 | 12 | 13 | 10 |
| Diluted EPS | $0.11 | $0.18 | −$0.03 | −$0.04 | $0.19 | $0.18 | $0.21 | $0.16 |
| EBITDA | 23 | 23 | 13 | 14 | 27 | 29 | 22 | 34 |
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