Pangaea Logistics Solutions Ltd. Reports Q4 2025 Earnings, GAAP Net Income of $11.9M, Adjusted Net Income of $10.1M, Revenue of $183.9M, and Adjusted EBITDA of $28.7M, a 23% YoY Increase.

Pangaea Logistics Solutions Ltd. (PANL) reported Q4 2025 earnings with GAAP net income of $11.9 million, or $0.19 per share, and adjusted net income of $10.1 million, or $0.16 per share, on revenue of $183.9 million. The company reported adjusted EBITDA of $28.7 million, increasing 23% YoY, and operating cash flow of $15.1 million. The firm earned time charter equivalent rates of $17,773 per day, 19% higher than the Baltic Panamax, Supramax, and Handysize indexes.