Pangaea Logistics (PANL) beats Q1 estimates as revenue rises 38.9%

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) reported stronger-than-expected first-quarter 2026 results, with revenue rising 38.9% from a year earlier to $170.6 million and adjusted earnings of $0.11 per share topping analyst estimates. Management attributed the outperformance to higher dry bulk activity, expanded use of chartered-in vessels and growth in terminal operations. The company said shipping days increased 14% year over year, while time charter equivalent rates were 20% above market averages. Its chartered-in fleet rose 54% during the quarter. Pangaea said it expects dry bulk fundamentals to remain supportive and plans further expansion of its integrated logistics platform, including port operations in Tampa, Florida. Shares traded at $7.84 after the earnings release, up from $7.67 before the report.