Pangaea Logistics Solutions Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Pangaea Logistics Solutions (NASDAQ:PANL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$153.1m (up 13% from 3Q 2023).
• Net income: US$5.11m (down 73% from 3Q 2023).
• Profit margin: 3.3% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.11 (down from US$0.42 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Pangaea Logistics Solutions Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) missed analyst estimates by 60%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are down 5.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Pangaea Logistics Solutions you should know about.

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