Pangaea Logistics Solutions (PANL) Misses Q4 EPS by 1c, Beats on Revenues

Note: EPS may not be comparable

Pangaea Logistics Solutions (NASDAQ: PANL) reported Q4 EPS of $0.09, $0.01 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $102.2 million versus the consensus estimate of $96.8 million.

4th Quarter 2017 Highlights

• Revenue up 54% to $102.2 million from $66.3 million in Q4 of 2016.
• Total shipping days increased to 5,036, a 38% increase over the Q4 2016 total of 3,654.
• TCE of $12,510 per day for the three months ended December 31, 2017 compared to $10,159 for the three months ended December 31, 2016.
• Adjusted EBITDA of $10.7 million for the fourth quarter of 2017 versus $4.4 million for the same period in 2016.
• The Company operated an average of 55 vessels during the fourth quarter of 2017 versus an average of 40 vessels in the same period of 2016.

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

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