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Pangaea Logistics Solns: Q1 Earnings Insights

Shares of Pangaea Logistics Solns (NASDAQ:PANL) rose in after-market trading after the company reported Q1 results. Quarterly Results Earnings per share were up 200.00% year over year to $0.09, which beat the estimate of $0.07.

05/11/2021 16:59

Shares of Pangaea Logistics Solns (NASDAQ:PANL) rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 200.00% year over year to $0.09, which beat the estimate of $0.07.

Revenue of $124,973,000 up by 30.34% year over year, which beat the estimate of $103,500,000.

Guidance

Pangaea Logistics Solns hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $4.10

52-week low: $1.84

Price action over last quarter: Up 14.62%

Company Overview

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The firm's services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.