The strong results, particularly the 23% EBITDA growth and TCE rates exceeding benchmarks by 19%, suggest continued strength in dry bulk shipping. The dividend declaration and $103 million cash position indicate financial stability. Monitor first quarter 2026 TCE rates of $14,917/day to assess if the strong performance continues.
Price Chart
Executive Summary
Pangaea Logistics reported strong Q4 2025 results with GAAP net income of $11.9 million ($0.19/share) and adjusted net income of $10.1 million ($0.16/share) on $183.9 million revenue. TCE rates rose 11% YoY to $17,773/day, exceeding benchmark indices by 19%. Adjusted EBITDA increased 23% to $28.7 million. The company declared a $0.05 quarterly dividend and has $103.1 million in cash.
Key Financial Metrics
Key Facts
- GAAP net income of $11.9 million ($0.19/share) for Q4 2025
- Adjusted net income of $10.1 million ($0.16/share)
- Revenue of $183.9 million, up 25% YoY
- TCE rates increased 11% YoY to $17,773/day
- Adjusted EBITDA increased 23% to $28.7 million
- Operating cash flow of $15.1 million
- Declared quarterly dividend of $0.05 per share
- Entered agreement to sell Bulk Xaymaca for $9.6 million
Financial Impact
$183.9 million revenue, $11.9 million net income
Risk Factors
- Dry bulk fundamentals may weaken in the seasonally softer first quarter
- Geopolitical disruptions could impact trade patterns
- Vessel supply and demand dynamics could shift
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-016596 |
| Document: panl-20260310.htm | 0001628280-26-016596 |
| Document: a12312025earningspresent.htm | 0001628280-26-016596 |
| Document: 0001628280-26-016596-index-headers.html | 0001628280-26-016596 |
| Document: 0001628280-26-016596-index.html | 0001628280-26-016596 |
| Document: 0001628280-26-016596.txt | 0001628280-26-016596 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | Press Release | $6.91 $8.30 | ▼ −20.12% | ▼ −21.17% | $7.97 (−15.34%) |
Jun 8, 2026 20w ago | 8-K | $7.23 $6.84 | ▼ −5.39% | ▼ −7.03% | $7.97 (+10.24%) |
May 15, 2026 23w ago | 144 | $8.19 $7.57 | ▼ −7.57% | ▼ −9.69% | $7.97 (−2.69%) |
May 11, 2026 24w ago | 8-K | $8.64 $7.30 | ▼ −15.51% | ▼ −13.78% | $7.97 (−7.75%) |
Mar 18, 2026 31w ago | Insider Cluster | $7.07 $7.90 | ▲ +11.74% | ▲ +4.11% | $7.97 (+12.73%) |
Mar 18, 2026 31w ago | Insider Cluster | $7.07 $7.90 | ▲ +11.74% | ▲ +4.11% | $7.97 (+12.73%) |
Mar 11, 2026 32w ago | 8-K | $7.22 $7.45 | ▲ +3.26% | ▲ +2.73% | $7.97 (+10.46%) |
US Market Status
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