Pangaea Logistics beat Q3 sales estimates, but missed profit expectations

From Stockstory.org does not appear to be associated with any specific media company.: 2024-11-12 22:32:15

Pangaea Logistics (NASDAQ:PANL) exceeded revenue expectations in Q3 CY2024, with sales up 12.9% to $153.1 million. However, non-GAAP profit per share was 12.2% below analysts’ estimates at $0.24. The company’s gross margin dropped to 18.8%, operating margin to 9.8%, and EBITDA margin to 15.6%. Free cash flow was -$28.58 million. Despite challenges, Pangaea’s long-term growth outlook remains positive with analysts projecting a 15.1% revenue growth in the next 12 months. The stock price dropped 2.6% to $6.60 post-results. Read our full research report for free for insights on Pangaea’s performance and future prospects.



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