Pangaea Logistics Solutions Ltd.
For the period ended Dec 31, 2024. Filed Mar 18, 2025.
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FY2024 · Filed Mar 18, 2025
PANL$8.54+5.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| Years ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues: | ||
| Voyage revenue | $494,106,763 | $468,580,914 |
| Charter revenue | 30,326,291 | 23,715,895 |
| Terminal & stevedore revenue | 12,103,192 | 6,971,025 |
| Total revenue | 536,536,246 | 499,267,834 |
| Operating expenses: | ||
| Voyage expense | 237,478,669 | 227,434,670 |
| Charter hire expense | 130,763,801 | 111,033,537 |
| Terminal & stevedore expenses | 9,299,425 | 5,809,025 |
| Vessel operating expenses | 55,543,547 | 55,783,562 |
| General and administrative | 24,626,469 | 22,780,937 |
| Depreciation and amortization | 30,375,721 | 30,070,395 |
| Loss on sale of vessels | — | 1,738,511 |
| Total operating expenses | 488,087,632 | 454,650,637 |
| Income from operations | 48,448,614 | 44,617,197 |
| Other (expense) income: | ||
| Interest expense | (17,073,184) | (17,025,547) |
| Interest income | 3,022,593 | 3,572,134 |
| Income attributable to Non-controlling interest recorded as long-term liability interest expense | (3,103,018) | (462,150) |
| Unrealized (loss) gain on derivative instruments | (953,042) | (2,925,347) |
| Other income | 1,427,530 | 761,485 |
| Total other expense, net | (16,679,121) | (16,079,425) |
| Net income | 31,769,493 | 28,537,772 |
| Income attributable to noncontrolling interests | (2,866,110) | (2,214,472) |
| Net income attributable to Pangaea Logistics Solutions Ltd. | $28,903,383 | $26,323,300 |
| Earnings per common share: | ||
| Basic | $0.64 | $0.59 |
| Diluted | $0.63 | $0.58 |
| Weighted average shares used to compute earnings per common share | ||
| Basic | 45,391,855 | 44,773,899 |
| Diluted | 46,046,044 | 45,475,453 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.