What Happened?

Shares of pangaea Logistics (NASDAQ:PANL) jumped 15.5% in the morning session after the company reported impressive fourth quarter 2024 results, which blew past analysts' sales and EBITDA estimates. 

The key highlight for the quarter was an 18% year-on-year growth in adjusted EBITDA, driven by a 17% increase in shipping days. Despite a 10% drop in Time Charter Equivalent (TCE - a measure of a vessel's average daily revenue performance) rates compared to last year, revenue climbed due to the expanded fleet and increased shipping activity. 

Looking ahead, Pangaea's expanded fleet size following its merger with SSI allows expansion into new segments and improved logistics capabilities. Overall, we think this was a solid quarter with some key areas of upside.

The shares closed the day at $5.45, up 12.1% from previous close.

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What The Market Is Telling Us

Pangaea’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. Moves this big are rare for Pangaea and indicate this news significantly impacted the market’s perception of the business.

Pangaea is down 3.5% since the beginning of the year, and at $5.44 per share, it is trading 34.2% below its 52-week high of $8.27 from May 2024. Investors who bought $1,000 worth of Pangaea’s shares 5 years ago would now be looking at an investment worth $2,720.

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