Pangaea swings to Q2 FY26 GAAP profit of USD 10.2 million; revenue rises 19.4% to USD 187.12 million

Reuters2026/08/10 21:03

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Pangaea Logistics Solutions posted GAAP net income of USD 10.2 million, or USD 0.16 a share, on revenue of USD 187.1 million.
Adjusted EBITDA more than doubled to USD 35 million, lifting the adjusted EBITDA margin by 8.9 percentage points to 18.7%.
Time charter equivalent rates climbed 50% year over year to USD 18,153 a day, beating Baltic Panamax, Supramax and Handysize averages by 10%.
Operating cash flow was USD 21.1 million; net debt to trailing 12-month adjusted EBITDA was 2.1x, with USD 105.7 million in unrestricted cash.
The board declared a quarterly cash dividend of USD 0.10 a share; operations started at Port Tampa Bay, Florida.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pangaea Logistics Solutions Ltd. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202608101653PR_NEWS_USPR_____NY22873) on August 10, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Pangaea swings to Q2 FY26 GAAP profit of USD 10.2 million; revenue rises 19.4% to USD 187.12 million

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