Pangaea Logistics | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 168.67 M

LB filings
2025.11.10 22:17
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Revenue: As of FY2025 Q3, the actual value is USD 168.67 M, beating the estimate of USD 159.32 M.

EPS: As of FY2025 Q3, the actual value is USD 0.19.

EBIT: As of FY2025 Q3, the actual value is USD 22.48 M.

Segment Revenue

  • Voyage Revenue: $155.3 million for the three months ended September 30, 2025, compared to $145.1 million for the same period in 2024. $411.2 million for the nine months ended September 30, 2025, compared to $356.5 million for the same period in 2024.
  • Charter Revenue: $9.3 million for the three months ended September 30, 2025, compared to $4.9 million for the same period in 2024. $26.1 million for the nine months ended September 30, 2025, compared to $23.7 million for the same period in 2024.
  • Terminal & Stevedore Revenue: $4.1 million for the three months ended September 30, 2025, compared to $3.1 million for the same period in 2024. $10.8 million for the nine months ended September 30, 2025, compared to $9.1 million for the same period in 2024.

Operational Metrics

  • Net Income: $12.2 million for the three months ended September 30, 2025, compared to $5.1 million for the same period in 2024. $7.9 million for the nine months ended September 30, 2025, compared to $22.7 million for the same period in 2024.
  • Gross Profit: $26.5 million for the three months ended September 30, 2025, compared to $21.1 million for the same period in 2024. $47.6 million for the nine months ended September 30, 2025, compared to $52.1 million for the same period in 2024.
  • Adjusted EBITDA: $28.9 million for the three months ended September 30, 2025, compared to $24.0 million for the same period in 2024. $59.3 million for the nine months ended September 30, 2025, compared to $60.0 million for the same period in 2024.

Cash Flow

  • Operating Cash Flow: $38.6 million for the nine months ended September 30, 2025, compared to $46.4 million for the same period in 2024.
  • Investing Cash Flow: $1.9 million for the nine months ended September 30, 2025, compared to -$57.4 million for the same period in 2024.
  • Financing Cash Flow: -$33.0 million for the nine months ended September 30, 2025, compared to $5.0 million for the same period in 2024.

Unique Metrics

  • Shipping Days: 5,872 days for the three months ended September 30, 2025, compared to 4,805 days for the same period in 2024. 17,304 days for the nine months ended September 30, 2025, compared to 12,607 days for the same period in 2024.
  • TCE Rates: $15,559 per day for the three months ended September 30, 2025, compared to $16,324 per day for the same period in 2024. $13,063 per day for the nine months ended September 30, 2025, compared to $16,692 per day for the same period in 2024.

Future Outlook and Strategy

  • Core Business Focus: The Company plans to continue expanding its fleet and optimizing its chartering strategy to enhance revenue and profitability. It aims to leverage long-term contracts of affreightment and specialized fleet capabilities to outperform market indices.
  • Non-Core Business: The Company is exploring opportunities to expand its port and terminal operations, with the addition of new port facilities contributing to increased terminal and stevedore revenue.
  • Priority: The Company is focused on maintaining a flexible chartered-in profile to meet cargo commitments and managing costs through bunker hedging and fuel cost pass-through arrangements.
Source: LB filings The copyright of this article belongs to the original author/organization.
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