Business
Pangaea Logistics Solutions Ltd. Reports Financial Results for the Quarter Ended March 31, 2025
Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months ended March 31, 2025.
About this update from Pangaea Logistics Solutions Ltd.
[{"type":"text","content":"NEWPORT, R.I., May 12, 2025 /PRNewswire/ -- Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, announced today its results for the three months ended March 31, 2025.","length":282,"tagName":"p"},{"type":"image","alt":"Pangaea Logistics Solutions Ltd. (PRNewsfoto/Pangaea Logistics Solutions LTD)","displaySize":"","headline":null,"caption":"Pangaea Logistics Solutions Ltd. (PRNewsfoto/Pangaea Logistics Solutions LTD)","className":"","disableSlideshowImg":false,"size":{"original":{"width":330,"height":400,"url":"https://media.zenfs.com/en/prnewswire.com/8f5aff53a060b5215dd5f476abf4d247"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/w.RrjVMFRnQL7FZIfP51wg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTc3NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/8f5aff53a060b5215dd5f476abf4d247","width":330,"height":400}},"href":"https://mma.prnewswire.com/media/2513200/Pangaea_Logistics_Solutions__Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"FIRST QUARTER 2025 RESULTS","length":31,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net loss attributable to Pangaea of $2.0 million, or $0.03 per share","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted net loss attributable to Pangaea of $2.2 million, or $0.03 per share","length":77,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA of $14.8 million","length":32,"tagName":"p"}]},{"val":[{"type":"text","content":"Time Charter Equivalent ("TCE") rates earned by Pangaea of $11,390 per day","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Pangaea's TCE rates exceeded the weighted average Baltic Panamax, Supramax, and Handysize indices by 33%","length":108,"tagName":"p"}]},{"val":[{"type":"text","content":"Announces $15million share repurchase authorization","length":51,"tagName":"p"}]},{"val":[{"type":"text","content":"Declared quarterly cash dividend of $0.05 per common share","length":58,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":478,"olType":false},{"type":"text","content":"For the three months ended March 31, 2025, Pangaea reported non-GAAP adjusted net loss of $2.2 million, or $0.03 per share, on total revenue of $122.8 million. First...