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Pangaea Logistics Solutions (PANL)
NASDAQ:PANL
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Pangaea Logistics Solutions
(NASDAQ:PANL)
73Outperform
Pangaea Logistics Solutions (PANL) vs. S&P 500 (SPY)
Market Cap
$282.20M
Dividend Yield9.28%
Average Volume (3M)297.73K
Price to Earnings (P/E)6.8
Beta (1Y)1.06
Revenue Growth7.46%
EPS Growth8.41%
CountryUS
Employees170
SectorIndustrials
Sector Strength70
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.16
Shares Outstanding65,628,430
10 Day Avg. Volume336,855
30 Day Avg. Volume297,729
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.65
Price to Cash Flow (P/CF)4.60
P/FCF Ratio4.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$10.25Price Target Upside144.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Pangaea Logistics Solutions Business Overview & Revenue Model
Company DescriptionPangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. Its ocean logistics services comprise cargo loading, cargo discharge, vessel chartering, voyage planning, and technical vessel management. As of March 16, 2022, the company owned and operated a fleet of 25 vessels. Pangaea Logistics Solutions, Ltd. was founded in 1996 and is based in Newport, Rhode Island.
How the Company Makes MoneyPangaea Logistics Solutions generates revenue primarily through its maritime transportation services, focusing on the dry bulk shipping market. The company earns income by transporting bulk commodities such as coal, grain, and other raw materials across global trade routes. Revenue streams include freight charges for transporting goods, time charter arrangements where vessels are chartered out for specific periods, and voyage charters where the company handles specific cargo transportation contracts. Additionally, Pangaea may engage in partnership agreements and joint ventures with other shipping operators to optimize fleet utilization and expand service offerings, thus contributing to its earnings.
Pangaea Logistics Solutions Financial Statement Overview
Summary
Pangaea Logistics Solutions demonstrates strong financial health, with robust revenue growth and effective cost management. The balance sheet shows low leverage, enhancing stability. Cash flow management is excellent, though there's room for improvement in profitability ratios.Income Statement
Pangaea Logistics Solutions has demonstrated strong revenue growth with a 7.5% increase from the previous year. The gross profit margin remained stable, indicating effective cost management. However, the net profit margin is moderate, suggesting room for improvement in profitability. EBIT and EBITDA margins are healthy, reflecting efficient operations.75
Positive
Balance Sheet
The company's balance sheet shows a solid equity position with a debt-to-equity ratio of 0.07, indicating low leverage. Return on equity is healthy at 6.76%, but there's potential for improvement. The equity ratio of 45.68% signifies a stable financial structure. The low debt levels reduce financial risk, enhancing overall stability.68
Positive
Cash Flow
Pangaea Logistics Solutions exhibits strong cash flow management, with a significant increase in free cash flow. The operating cash flow to net income ratio is robust at 2.27, indicating efficient cash generation relative to earnings. The free cash flow to net income ratio is positive, highlighting good cash conversion capabilities.80
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 536.54M | 499.27M | 699.71M | 718.10M | 382.90M | Gross Profit |
| 73.08M | 69.14M | 128.94M | 97.84M | 38.14M | EBIT |
| 48.45M | 44.62M | 105.51M | 78.87M | 19.70M | EBITDA |
| 82.32M | 76.10M | 137.42M | 106.86M | 37.58M | Net Income Common Stockholders |
| 28.90M | 26.32M | 79.49M | 67.23M | 11.35M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 86.81T | 99.04M | 128.38M | 56.21M | 46.90M | Total Assets |
| 10.00T> | 705.18M | 748.24M | 707.02M | 450.40M | Total Debt |
| 29.85T | 264.44M | 299.48M | 306.96M | 159.63M | Net Debt |
| -56.95T | 165.40M | 171.10M | 250.75M | 112.73M | Total Liabilities |
| 10.00T> | 334.98M | 379.52M | 406.34M | 215.97M | Stockholders Equity |
| 10.00T> | 323.89M | 314.23M | 247.20M | 182.77M |
| Cash Flow | Free Cash Flow | |||
| 65.69M | 26.52M | 98.41M | -134.91M | 17.91M | Operating Cash Flow |
| 65.69M | 53.79M | 134.80M | 61.75M | 20.84M | Investing Cash Flow |
| -67.69M | -15.98M | -28.51M | -197.79M | -6.89M | Financing Cash Flow |
| -10.23M | -67.15M | -34.12M | 143.86M | -18.61M |
Pangaea Logistics Solutions Technical Analysis
Negative
4.19
Price Trends
4.94
Negative
5.13
Negative
5.81
Negative
Market Momentum
-0.25
Positive
36.77
Neutral
36.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PANL, the sentiment is Negative. The current price of 4.19 is below the 20-day moving average (MA) of 4.70, below the 50-day MA of 4.94, and below the 200-day MA of 5.81, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 36.77 is Neutral, neither overbought nor oversold. The STOCH value of 36.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PANL.
Pangaea Logistics Solutions Risk Analysis
Pangaea Logistics Solutions disclosed 63 risk factors in its most recent earnings report. Pangaea Logistics Solutions reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pangaea Logistics Solutions Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $208.18M | 1.82 | 35.83% | 8.34% | 12.43% | -1.63% | |
76 Outperform | $185.54M | 2.58 | 11.88% | ― | 16.54% | 42.56% | |
73 Outperform | $282.20M | 6.85 | 7.69% | 9.28% | 7.46% | 8.41% | |
70 Outperform | $364.23M | 4.16 | 11.99% | 5.75% | 8.17% | 35.92% | |
69 Neutral | $549.45M | 7.31 | 8.30% | 11.41% | 10.21% | ― | |
62 Neutral | $7.70B | 13.14 | 3.53% | 3.32% | 3.90% | -14.25% | |
55 Neutral | $166.71M | 24.49 | 2.56% | 11.89% | -12.93% | -86.34% |
* Industrials Sector Average
Performance Comparison
PANL
Pangaea Logistics Solutions
4.19
-1.92
-31.42%
DSX
Diana Shipping
1.43
-1.28
-47.23%
ESEA
Euroseas
28.84
3.03
11.74%
GNK
Genco Shipping
12.51
-6.27
-33.39%
SB
Safe Bulkers
3.32
-1.20
-26.55%
GASS
StealthGas
5.08
-0.81
-13.75%
Pangaea Logistics Solutions Earnings Call Summary
Earnings Call Date: Mar 13, 2025 | % Change Since: -13.43% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Neutral
The call highlighted significant achievements such as a strong EBITDA increase, strategic fleet expansion, and TCE outperformance. However, there are notable challenges including potential tariff impacts, increased interest expenses, and soft market conditions. Despite these challenges, the company demonstrated resilience through strategic growth and financial performance.Highlights
Significant EBITDA Increase
Pangaea reported a greater than 20% year-over-year increase in adjusted EBITDA despite a 22.6% decrease in prevailing market rates.
Merger Completion
Successfully completed a merger with SSI, adding 15 Handysize dry bulk vessels, expanding their fleet to 41 owned vessels and 60-70 operating vessels.
TCE Rate Outperformance
Achieved a Time Charter Equivalent (TCE) rate that exceeded the benchmark index by 48% in the fourth quarter.
Strong Financial Results
Reported adjusted net income of $7.6 million and adjusted EBITDA of $23.2 million for the fourth quarter of 2024.
Strategic Fleet Expansion
Expanded fleet through vessel acquisitions, fleet combination, and JV buyout, indicating confidence in their business plan.
Lowlights
Potential Tariff and Fee Headwinds
Concerns about proposed tariffs and new port entry fees in the U.S. which could introduce near-term volatility in market rates.
Increased Interest Expense
Overall interest expense increased by 10.5% due to new debt facilities, with future expenses expected to be about $1.3 million higher.
Soft Market Conditions
Dry bulk demand was seasonally soft across all major trade routes, with market prices being volatile.
Increased Operating Expenses
Special operating expenses increased by approximately 9% year-over-year.
Cash Flow Decrease
Total cash from operations decreased by $4.6 million year-over-year to approximately $19.2 million.
Company Guidance
During the Pangaea Logistics Solutions Fourth Quarter and Full Year 2024 Earnings Teleconference, several key metrics and strategic insights were highlighted. The company reported a greater than 20% year-over-year increase in adjusted EBITDA despite a 22.6% decrease in prevailing market rates during the fourth quarter, demonstrating strong performance in a challenging market. The adjusted net income for the fourth quarter was $7.6 million, with an adjusted EBITDA of $23.2 million and a TCE rate of $15,941 per day, outperforming the benchmark index by 48%. The merger with SSI, adding 15 Handysize dry bulk vessels, expanded the total fleet to 41 owned vessels and an operating fleet of 60 to 70 vessels. This strategic move is aimed at strengthening logistics and terminal services. The company also highlighted its asset-light cargo-centric model, which enhances flexibility and cost efficiency. Looking forward, the first quarter of 2025 experienced seasonal softness with a TCE rate of $11,412 per day, and 4,982 shipping days booked. The leadership expressed confidence in continuing to drive profitable growth and maintaining a balanced capital allocation strategy focused on fleet renewal, debt reduction, and sustained shareholder returns.Pangaea Logistics Solutions Corporate Events
M&A TransactionsBusiness Operations and Strategy
Pangaea Logistics Expands Fleet with Vessel Acquisition
Positive
Jan 6, 2025
Pangaea Logistics Solutions has completed the acquisition of fifteen handy-size dry bulk vessels from Strategic Shipping Inc., thereby expanding its fleet. This strategic move strengthens Pangaea’s market position by increasing its fleet to 41 vessels, enhancing its service offerings, and providing growth opportunities in its logistics operations.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.