Pangaea Logistics Solutions reported better-than-expected Q2/2024 results, with both the company's top- and bottom-line results coming in ahead of consensus estimates. That said, adjusted EBITDA margin of 12.8% dropped to its lowest level in recent years as Pangaea's chartered-in fleet was running at a loss. With preliminary Q3 daily time charter equivalent rates up and charter-in rates down by more than 10% sequentially, Pangaea should report vastly improved third-quarter results.
Pangaea Logistics (PANL) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.10 per share a year ago.