Pangaea Logistics Q2 2026 net income $10.2 million, or $0.16 a share, versus a loss a year earlier
Pangaea Logistics Solutions reported second quarter 2026 revenue of $187.1 million, up from $156.7 million a year earlier, and GAAP net income attributable to the company of $10.2 million, or $0.16 per share, compared with a loss of $2.7 million, or $0.04 per share, in the prior-year quarter. The company also declared a quarterly cash dividend of $0.10 per share, and the filing describes an increase in that dividend.
Key points
- Total revenue of $187.1 million versus $156.7 million in Q2 2025; adjusted EBITDA of $35.0 million, up 125.1% year over year
- GAAP net income attributable to Pangaea of $10.2 million, or $0.16 per share; non-GAAP adjusted net income of $16.9 million, or $0.26 per share
- Average TCE rate of $18,153 per day, up 50% year over year; quarter-to-date booked 4,873 shipping days at an average TCE of $20,258 per day
- Quarterly dividend of $0.10 per share payable September 15, 2026 to holders of record on September 1, 2026
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.