Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Q3 2025 Earnings Presentation
15 slides from Pangaea Logistics Solutions's earnings presentation, Nov 7, 2025
Slide 1: Earnings Call Presentation
Earnings Call Presentation
Slide 2: Safe Harbor
Safe Harbor 3Q25 Earnings Call Presentation This presentation may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statement
Slide 3: 3Q25 Performance Highlights
3Q25 Performance Highlights Seasonal arctic activity drives strong earnings and operating cash flow Strong seasonal demand in arctic trade routes drove high utilization and supported premium TCE returns amid dry bulk market uncertainty, with TCE rates outperforming benchmark Panamax, Supramax and Ha
Slide 4: 3Q 2025 Performance Summary
3Q 2025 Performance Summary Adjusted EBITDA Adjusted EPS $s in Millions $s per Share TCE Rate Operating Cash $s per Flow Shipping Day $s in Millions 4
Slide 5: Outperforming Industry Benchmark
Outperforming Industry Benchmark Our TCE has exceeded the market by an average of 24% on a trailing 5-year basis Cargo Focused Business Model Consistently Delivers Above-Market Performance • Current 4Q25 booked TCE rate of $17,107, a 12% premium to the market average through the quarter.* • Our nich
Slide 6: Return of Capital Program
Return of Capital Program Quarterly cash dividend and share repurchase program, support long-term shareholder value creation Strong cash flow and profitability support consistent Dividend payout continues amid strategic execution and $15 million repurchase authorization allows for flexible return of
Slide 7: Balance Sheet Update
Balance Sheet Update Ample liquidity to support ongoing growth of business Continue to opportunistically invest in modern and Robust operating cash flow and opportunistic vessel Capital allocation priorities will be balanced between debt compliant vessel fleet to meet customer cargo financings, cont
Slide 8: Macro Shipping Outlook
Macro Shipping Outlook Focused on providing comprehensive logistics solutions with targeted dry bulks Near Term Outlook Medium Term Outlook Long-Term Outlook (Q4 2025 & 1H 2026) (2026 - 2027) (2028 & Beyond) • Continued U.S. infrastructure investment • Fleet growth continues to be low in • Clarity i
Slide 9: Value Creation Strategy
Value Creation Strategy Durable business model insulated from macro volatility – focused on deploying capital to drive above-sector growth Integrated shipping- High fleet Organic Inorganic Return Balance sheet logistics model utilization investment investment of capital optionality • Provide solutio
Slide 10: Investment Conclusion
Integrated shipping-logistics model Focused on consistently delivering consistent, above-market high fleet utilization to drive operating returns leverage Positioned to benefit from tightening On-shore logistics offering provides global supply of dry-bulk vessels amid Investment significant, increme
Slide 11: Appendix
Appendix Confidential: Pangaea Logistics Solutions
Slide 12: Selected Balance Sheet Data
Selected Balance Sheet Data September 30, 2025 December 31, 2024 (in thousands,may not foot due to rounding) Current Assets Cash and cash equivalents $ 94,020 $ 86,805 Accounts receivable, net 45,566 42,371 Other current assets 73,036 62,818 Total current assets $ 212,623 $ 191,994 Restricted cash 2
Slide 13: Selected Income Statement Data
Selected Income Statement Data (in thousands,may not foot due to rounding) Three Months Ended September 30, 2025 Nine Months Ended September 30, 2025 Revenues: Voyage revenue $ 155,271 $ 145,120 $ 411,200 $ 356,506 Charter revenue 9,298 4,860 26,141 23,738 Terminal & stevedore revenue 4,101 3,135 10
Slide 14: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (in thousands, figures may not foot due to rounding) Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Net Transportation and Service Revenue Gross Profit $ 26,545
Slide 15: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures In thousands, except per share amounts (earnings per common share and Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended adjusted earnings per common share). September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024 Earning
Pangaea Logistics Solutions — Q3 2025 Earnings Presentation on 6ix