Filing Flows › Pangaea Logistics Solutions (PANL) › Q2 2026 › vs Q1 2026
Pangaea Logistics Solutions (PANL) Q2 2026 vs Q1 2026 (quarter over quarter)
Pangaea Logistics Solutions's revenue rose $16.5M (+10%) from $171M in Q1 2026 to $187M in Q2 2026. The biggest changes: Voyage revenue +$19.7M (+13%); Port terminal & stevedore revenue −$2.2M (-36%); Charter revenue −$973K (-8%). Operating margin 11.4% against 6.1% (+5.3 pts).
Pangaea Logistics Solutions, Q2 2026: revenue $187M (+19% year over year), operating margin 11.4%, net earnings $10.2M, operating cash flow $21.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.4% | 6.1% | +5.3 pts |
| Net margin | 5.5% | 7.8% | -2.3 pts |
| Free cash flow margin | 9.4% | 2.6% | +6.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Voyage revenue | $172M | $152M | $19.7M | +13% |
| Charter revenue | $11.5M | $12.4M | −$973K | -8% |
| Port terminal & stevedore revenue | $4.0M | $6.1M | −$2.2M | -36% |
| Revenue | $187M | $171M | $16.5M | +10% |
| Operating profit | $21.3M | $10.5M | $10.9M | +104% |
| Costs & expenses | $166M | $160M | $5.7M | +4% |
| Pre-tax earnings | $10.5M | $13.7M | −$3.2M | -23% |
| Other expense, net | $10.9M | −$3.2M | $14.1M | — |
| General & admin | $9.0M | $10.0M | −$1.1M | -11% |
| Other operating costs | $157M | $150M | $6.7M | +4% |
| Net earnings | $10.2M | $13.3M | −$3.1M | -23% |
| Minority interests | $280K | $371K | −$91K | -25% |
| Depreciation & amortization | $12.4M | $11.9M | $557K | +5% |
| Share-based compensation | $622K | $1.7M | −$1.1M | -63% |
| Working capital & other | $1.9M | $22.4M | −$20.5M | -92% |
| Operating cash flow | $21.4M | $4.5M | $16.9M | +376% |
| Free cash flow (OCF − capex) | $17.6M | $4.5M | $13.2M | +293% |
| Capital expenditures | $3.7M | $0 | $3.7M | — |
Questions
How much did Pangaea Logistics Solutions's revenue grow quarter over quarter in Q2 2026?
Pangaea Logistics Solutions's revenue rose $16.5M (+10%) from $171M in Q1 2026 to $187M in Q2 2026.
What drove Pangaea Logistics Solutions's revenue change in Q2 2026?
Voyage revenue +$19.7M (+13%); Port terminal & stevedore revenue −$2.2M (-36%); Charter revenue −$973K (-8%).