Pangaea Logistics Solutions Ltd. · NASDAQ:PANL
Pangaea Logistics Solutions — Q3 2016 Earnings Presentation
8 slides from Pangaea Logistics Solutions's earnings presentation, Nov 10, 2016
Slide 1: Third Quarter 2016 Results
Third Quarter 2016 Results November 2016
Slide 2: Safe Harbor
2 Safe Harbor This presentation includes 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 statements are based on Pangaea’s and mana
Slide 3: Third Quarter 2016 Highlights
3 Third Quarter 2016 Highlights 1 Adjusted EBITDA is a non-GAAP measure and represents income from operations before depreciation, amortization, loss on impairment and non-recurring items, if applicable. See Reconciliation of Adjusted EBITDA and Adjusted Earnings Per Share. • Net income attributable
Slide 4: Financial Performance - Trailing Four Quarters
4 Financial Performance - Trailing Four Quarters 1) Adjusted EBITDA is a non-GAAP measure and represents operating earnings before interest expense, income taxes, depreciation and amortization, and other non-operating income and/or expense, if any. 2) TCE is defined as total revenues less voyage exp
Slide 5: Drivers of Performance
5 • The Company’s unique ability to limit the impact of weak market rates on its operations by dynamically adjusting its fleet size. This a function of its flexible, cargo-focused business model, which uses a mix of owned and chartered-in vessels. • Reduction in cost of bunkers consumed on voyages.
Slide 6: Defensible Pillars of Profitability
6 Defensible Pillars of Profitability • Execution specialization: - Material cost savings & enhanced profit through granular operating knowledge & risk sensitive approach - Secured & defended by 200+ years of expertise & embedded relationships; key managers average 20 years in the industry • Backhau
Slide 7: Selected Income Statement Data
7 Selected Income Statement Data 2016 2015 (unaudited) (unaudited) Revenues: Voyage revenue 65,986,320$ 64,599,552$ Charter revenue 4,797,572 6,588,613 70,783,892 71,188,165 Expenses: Voyage expense 29,166,651 30,392,418 Charter hire expense 19,655,327 20,601,908 Vessel operating expenses 7,483,507
Slide 8: Selected Balance Sheet and Cash Flow Data
8 Selected Balance Sheet and Cash Flow Data September 30, 2016 December 31, 2015 (unaudited) Current Assets Cash and cash equivalents 28,192,492$ 37,520,240$ Accounts receivable, net 14,811,060 19,617,943 Other current assets 20,990,962 12,173,223 Total current assets 63,994,514 69,311,406 Fixed ass
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