Pangaea Logistics Solutions Third Quarter 2022 Earnings: Beats Expectations
Pangaea Logistics Solutions (NASDAQ:PANL) Third Quarter 2022 Results
Key Financial Results
Revenue: US$184.5m (down 13% from 3Q 2021).
Net income: US$18.8m (down 30% from 3Q 2021).
Profit margin: 10% (down from 13% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: US$0.42 (down from US$0.61 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Pangaea Logistics Solutions Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 22%.
Looking ahead, revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 8.9% decline forecast for the Shipping industry in the US.
Performance of the American Shipping industry.
The company's shares are up 3.3% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Pangaea Logistics Solutions (1 doesn't sit too well with us!) that we have uncovered.
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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.
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