Pangaea Logistics Solutions Ltd. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 5, 2026, reporting third-quarter and year-to-date financial results for the company listed on NASDAQ:PANL.

Key Highlights

  • Total revenues, net: $219,057 thousand for the three months ended September 30, 2026, compared to $168,670 thousand for the same period in 2025, according to the filing.
  • Net income: $39,552 thousand for Q3 2026, up from $12,988 thousand in Q3 2025, as reported in the condensed consolidated statements of operations.
  • Net income attributable to Pangaea Logistics Solutions Ltd.: $38,261 thousand for the three months ended September 30, 2026, versus $12,208 thousand in the prior-year quarter.
  • Basic and diluted earnings per share: $0.59 for Q3 2026, compared to $0.19 in Q3 2025, based on a weighted average basic share count of 64,396,991.
  • Nine-month net income: $63,699 thousand for the nine months ended September 30, 2026, versus $7,889 thousand for the same period in 2025.
  • Total assets: $995,995 thousand as of September 30, 2026, up from $928,096 thousand at December 31, 2025.
  • Shares outstanding: 65,473,772 shares of common stock as of November 4, 2026, as indicated on the cover page.

Pangaea Logistics Reports Q3 2026 Revenue and Earnings Growth

According to the filing, Pangaea Logistics Solutions Ltd. generated total revenues, net of $219,057 thousand in the three months ended September 30, 2026, compared to $168,670 thousand in the three months ended September 30, 2025. Revenue components for Q3 2026 included voyage revenue of $193,141 thousand, charter revenue of $18,814 thousand, and port terminal and stevedore revenue of $7,102 thousand. For the nine months ended September 30, 2026, total revenues, net were $576,756 thousand, versus $448,161 thousand in the year-earlier period.

The company reported income from operations of $43,601 thousand for Q3 2026, compared to $16,922 thousand in Q3 2025, the filing disclosed. Total operating expenses for the quarter were $175,456 thousand, up from $151,748 thousand. Major expense categories for Q3 2026 included voyage expenses of $77,292 thousand, charter hire expenses of $50,717 thousand, vessel operating expenses of $22,607 thousand, and depreciation and amortization of $11,915 thousand. After interest expense of $5,297 thousand and interest income of $884 thousand, net income reached $39,552 thousand for the quarter, the filing stated.

The condensed consolidated balance sheet as of September 30, 2026 showed total stockholders' equity of $528,333 thousand, including total Pangaea Logistics Solutions Ltd. equity of $480,988 thousand and non-controlling interests of $47,345 thousand. Cash and cash equivalents were $144,924 thousand, versus $103,054 thousand at December 31, 2025. The company declared common stock dividends of $6,554 thousand during Q3 2026 and $13,077 thousand for the nine months ended September 30, 2026, according to the statements of stockholders' equity. The company is classified as an accelerated filer and a smaller reporting company, as indicated on the cover page.

What Was Disclosed

Pangaea Logistics Solutions Ltd. disclosed unaudited condensed consolidated financial results for Q3 and the nine months ended September 30, 2026, covering revenues, expenses, net income, earnings per share, balance sheet positions, and changes in stockholders' equity, in its quarterly report on Form 10-Q filed November 5, 2026.