Pangaea Logistics Solutions Full Year 2023 Earnings: Misses Expectations
Pangaea Logistics Solutions (NASDAQ:PANL) Full Year 2023 Results
Key Financial Results
Revenue: US$499.3m (down 29% from FY 2022).
Net income: US$26.3m (down 67% from FY 2022).
Profit margin: 5.3% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$0.59 (down from US$1.79 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Pangaea Logistics Solutions Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 36%.
Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 2 years, while revenues in the Shipping industry in the US are expected to remain flat.
Performance of the American Shipping industry.
The company's shares are down 15% from a week ago.
Risk Analysis
We should say that we've discovered 2 warning signs for Pangaea Logistics Solutions that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
