Pangaea Logistics Q3 net income rises to $38.3 million, or $0.59 per share
Pangaea Logistics Solutions reported third-quarter 2026 results, with GAAP net income attributable to the company of $38.3 million, or $0.59 per share, up from $12.2 million, or $0.19 per share, a year earlier. Total revenue was $219.1 million, and Adjusted EBITDA rose 81.3% to $52.4 million, which matters to shareholders because it shows a large year-over-year gain in earnings and cash generation. The board also declared a $0.10 quarterly dividend.
Key points
- GAAP net income attributable to Pangaea of $38.3 million, or $0.59 per share, versus $12.2 million, or $0.19 per share, in Q3 2025
- Total revenue of $219.1 million versus $168.7 million in Q3 2025; Adjusted EBITDA of $52.4 million, a 23.9% margin versus 17.1%
- Average TCE rate of $20,414 per day versus $15,559 per day a year earlier; the company reported cash and equivalents of $144.9 million at September 30, 2026
- Quarterly dividend of $0.10 per share, payable December 15, 2026, to holders of record on December 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 November 05, 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.