Pangaea Logistics Solutions Ltd. Reports Fourth Quarter and Full Year 2025 Financial Results

Key Financial Highlights and Shareholder Updates

NEWPORT, RI – March 10, 2026 – Pangaea Logistics Solutions Ltd. (“Pangaea” or the “Company”), a leading global provider of comprehensive maritime logistics and transportation solutions, has released its financial results for the fourth quarter and full year ended December 31, 2025. The report, which included a press release and investor presentation, delivers a deep dive into the Company’s operational and financial performance, significant events, and outlook.

Key Points from the Report

• Revenues for Q4 2025: Pangaea reported quarterly revenues of \$488.1 million, demonstrating the Company’s scale and continued customer demand for its specialized shipping capabilities.
• Full Year 2025 Revenue: Revenues for the year totaled \$1,664.8 million.
• Net Income:
  • Q4 2025 net income reached \$12.3 million.
  • Net income for the full year was \$20.2 million, a decrease compared to \$31.8 million in 2024, reflecting a more challenging operating environment and higher expenses.
• Adjusted EBITDA:
  • Q4 2025 Adjusted EBITDA was \$28.8 million.
  • Full year Adjusted EBITDA was \$79.6 million.
• Earnings Per Share (EPS):
  • Basic EPS for Q4 was \$0.19, compared to \$0.30 in the prior year.
  • Full year diluted EPS was \$0.18, down from \$0.64 in 2024 due to lower net profits.
  • Adjusted EPS (non-GAAP) for Q4 was \$0.16 basic, \$0.16 diluted.
• Operating Cash Flow: Cash flow from operations for the year was \$53.7 million.
• Dividend Payments:
  • Dividends paid to shareholders during 2025 totaled \$16.3 million.
  • Dividend payable at year-end was \$1.2 million.
  • Dividends paid to non-controlling interests were \$2.5 million.
• Balance Sheet Position:
  • Total assets as of December 31, 2025, were \$936.5 million.
  • Total stockholders’ equity at year-end stood at \$474.7 million.
  • Financing obligations, net, were \$219.8 million.
• Share Repurchases: The Company repurchased \$3.0 million of ordinary shares during the year, signaling management’s view of undervaluation and commitment to shareholder returns.
• Acquisition Activity:
  • Pangaea completed the acquisition of Strategic Shipping Inc., issuing 18,059,342 shares of common stock as non-cash consideration valued at \$91.0 million, significantly expanding its fleet and operational reach.
• Capital Investments:
  • Invested \$2.2 million in vessel purchases and improvements and \$4.3 million in equipment and software.
  • Acquired non-controlling interest for \$2.7 million.
• Non-GAAP Results: The Company provided reconciliations of non-GAAP measures (Adjusted EBITDA, Adjusted EPS, etc.) to supplement its GAAP results, reflecting management’s focus on operational cash flow and underlying profitability.

Shareholder/Price-Sensitive Disclosures

• Lower Full-Year Profitability: Net income and EPS were lower year-over-year, primarily due to increased operating costs and market headwinds. This may be viewed negatively by some investors, though the Company remains solidly profitable.
• Major Acquisition: The acquisition of Strategic Shipping Inc. is a significant event. The share issuance will dilute existing shareholders but is expected to enhance Pangaea’s fleet scale, market competitiveness, and long-term earnings power. This strategic move could drive future growth and may impact the share price.
• Dividend Policy and Share Repurchase: Continuing to pay dividends and buying back shares underscores management’s commitment to shareholder value, even in a challenging market.
• Robust Balance Sheet: Strong cash generation, asset base, and equity position provide flexibility for future growth, debt service, and capital allocation.
• Forward-Looking Risks: The Company highlighted numerous risks—market volatility, fluctuating charter rates, changes in expenses (especially fuel/bunker), regulatory changes, and potential disruptions in shipping routes. These could materially affect results.

Investor Takeaways

Pangaea Logistics Solutions Ltd. remains a major player in dry bulk maritime logistics, demonstrating resilience in a difficult market. The acquisition of Strategic Shipping Inc. positions the Company for future growth and could prove transformative, but the immediate impact of share dilution and lower year-over-year profits may weigh on the stock in the short term. Dividend continuity and share buybacks signal confidence from management.

Investors should pay attention to future integration of Strategic Shipping, market rate trends, and Pangaea’s ability to manage costs and leverage its expanded fleet for enhanced profitability.

Forward-Looking and Regulatory Statements

This release contains forward-looking statements subject to risks and uncertainties, including market conditions, operating expenses, regulatory changes, and other factors as disclosed in SEC filings. Pangaea undertakes no obligation to update these statements except as required by law.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. All financial figures are as reported by Pangaea Logistics Solutions Ltd., and investors should review the Company’s full filings and consult professional advisors before making investment decisions. Past performance is not indicative of future results.

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