Pangaea Logistics (NASDAQ: PANL) will be reporting earnings tomorrow afternoon. Here’s what investors should know.
Pangaea beat analysts’ revenue expectations by 15.6% last quarter, reporting revenues of $147.2 million, up 11.6% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is Pangaea a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Pangaea’s revenue to grow 22.6% year on year to $128.5 million, a reversal from the 7.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pangaea has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Pangaea’s peers in the marine transportation segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Scorpio Tankers’s revenues decreased 47.6% year on year, beating analysts’ expectations by 1.7%, and Genco reported a revenue decline of 43.9%, topping estimates by 4.8%. Scorpio Tankers traded up 5.4% following the results while Genco’s stock price was unchanged.
Read our full analysis of Scorpio Tankers’s results here and Genco’s results here.
There has been positive sentiment among investors in the marine transportation segment, with share prices up 9.9% on average over the last month. Pangaea is down 3.9% during the same time and is heading into earnings with an average analyst price target of $9.38 (compared to the current share price of $4.14).
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