Pangaea Logistics (NASDAQ: PANL) will be reporting results this Monday after market hours. Here’s what to look for.
Pangaea beat analysts’ revenue expectations last quarter, reporting revenues of $183.9 million, up 24.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Pangaea a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Pangaea’s revenue to grow 35% year on year, improving from the 17.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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 multiple 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. Genco delivered year-on-year revenue growth of 73%, beating analysts’ expectations by 8.1%, and Scorpio Tankers reported revenues up 48.4%, topping estimates by 6.3%. Genco traded down 1.4% following the results while Scorpio Tankers’s stock price was unchanged.
Read our full analysis of Genco’s results here and Scorpio Tankers’s results here.
There has been positive sentiment among investors in the marine transportation segment, with share prices up 5% on average over the last month. Pangaea is up 3% during the same time and is heading into earnings with an average analyst price target of $10.85 (compared to the current share price of $7.51).
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