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Segments

By segment

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Shipping$283.68M+19.5%

Other financials

Income statement

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Revenue$187.1M+19.4%
Operating income$21.3M+484%
Net income$10.2M+472%
EPS (diluted)$0.16+500%

Balance sheet

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Cash & equivalents$105.7M+78.3%
Total debt$48.8M+21.4%
Total equity$448.6M+8.3%
Total assets$956.7M+4.4%

Cash flow

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Operating cash flow$21.4M+48.6%
CapEx$1.1M+2,474%
Free cash flow$12.4M-24.6%

Valuation

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Market cap$479.49M+50.3%
Enterprise value$422.64M+40.9%
P/E10.1×-26.1×
P/S0.7×+0.1×

Profitability

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Operating margin9.3%+3.0pp
Net margin6.7%+5.2pp
FCF margin7.8%-4.4pp

Returns & leverage

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Return on equity11%+8.7pp
Debt / equity0.1×0.0×
Current ratio1.4×-0.1×

Where this comes from

Reported directly by Pangaea Logistics Solutions in its filing.

Tagged under the XBRL concept panl:VoyageExpense.

The source filing: Pangaea Logistics Solutions’s 10-Q, filed August 10, 2026.

Filed
Aug 10, 2026, 5:22 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-055365
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Port terminal & stevedore revenue3,9533,57110,0916,720
Total revenues, net187,119156,689357,699279,491
Expenses:
Voyage expense79,05877,782152,796138,089
Charter hire expense39,10431,42378,28249,064
Vessel operating expense23,26323,37543,82545,553
Terminal & stevedore expenses2,9542,6867,3295,238
General and administrative8,9627,17218,98914,446

Item 1. Financial Statements (unaudited)

FAQ

What is Pangaea Logistics Solutions's voyage expense?
Pangaea Logistics Solutions (PANL) reported voyage expense of $79.06M in Q2 2026.
How has Pangaea Logistics Solutions's voyage expense changed year-over-year?
Pangaea Logistics Solutions's voyage expense increased by 1.6% year-over-year, from $77.78M to $79.06M.
What is the long-term trend for Pangaea Logistics Solutions's voyage expense?
Over 4 years (2021 to 2025), Pangaea Logistics Solutions's voyage expense has grown at a 6.6% compound annual growth rate (CAGR), from $219.6M to $283.68M.
What does voyage expense mean?
Represents the direct costs associated with specific voyages, including fuel consumption, port charges, canal tolls, and other voyage-related fees. These expenses are essential for evaluating the variable cost structure of maritime transportation services relative to revenue generated from specific charters. Monitoring these costs helps assess operational efficiency and the impact of fluctuating fuel prices on voyage profitability.

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