Pangaea Logistics Solutions (PANL) Tops Q3 EPS by 9c, Beats on Revenues

Pangaea Logistics Solutions (NASDAQ: PANL) reported Q3 EPS of $0.17, $0.09 better than the analyst estimate of $0.08. Revenue for the quarter came in at $107.02 million versus the consensus estimate of $65 million.

3rd Quarter 2017 Highlights

• Adjusted EBITDA increased to $14.0 million for three months ended September 30, 2017, from $11.3 million for the same period of 2016.
• Income from operations up 29%.
• Net income attributable to Pangaea Logistics Solutions Ltd. of $7.2 million as compared to $6.1 million for the three months ended September 30, 2016.
• 51% increase in revenue; 34% increase in shipping days.
• $29.3 million in unrestricted cash and cash equivalents at September 30, 2017.

For earnings history and earnings-related data on Pangaea Logistics Solutions (PANL) click here.

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