Filing Flows › Pangaea Logistics Solutions (PANL) › Q2 2026 › vs Q2 2025
Pangaea Logistics Solutions (PANL) Q2 2026 vs Q2 2025 (year over year)
Pangaea Logistics Solutions's revenue rose $30.4M (+19%) from $157M in Q2 2025 to $187M in Q2 2026. The biggest changes: Voyage revenue +$25.4M (+17%); Charter revenue +$4.6M (+67%); Port terminal & stevedore revenue +$382K (+11%). Operating margin 11.4% against 2.3% (+9.1 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 11.4% | 2.3% | +9.1 pts |
| Net margin | 5.5% | -1.7% | +7.2 pts |
| Free cash flow margin | 9.4% | 8.6% | +0.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Voyage revenue | $172M | $146M | $25.4M | +17% |
| Charter revenue | $11.5M | $6.8M | $4.6M | +67% |
| Port terminal & stevedore revenue | $4.0M | $3.6M | $382K | +11% |
| Revenue | $187M | $157M | $30.4M | +19% |
| Operating profit | $21.3M | $3.7M | $17.7M | +484% |
| Costs & expenses | $166M | $153M | $12.7M | +8% |
| Pre-tax earnings | $10.5M | −$2.9M | $13.4M | — |
| Other expense, net | $10.9M | $6.6M | $4.3M | +66% |
| General & admin | $9.0M | $7.2M | $1.8M | +25% |
| Other operating costs | $157M | $146M | $10.9M | +8% |
| Net earnings | $10.2M | −$2.7M | $12.9M | — |
| Minority interests | $280K | −$158K | $438K | — |
| Depreciation & amortization | $12.4M | $10.6M | $1.8M | +17% |
| Share-based compensation | $622K | $549K | $73K | +13% |
| Working capital & other | $1.9M | −$6.0M | $7.9M | — |
| Operating cash flow | $21.4M | $14.4M | $7.0M | +49% |
| Free cash flow (OCF − capex) | $17.6M | $13.5M | $4.2M | +31% |
| Capital expenditures | $3.7M | $944K | $2.8M | +296% |
Questions
How much did Pangaea Logistics Solutions's revenue grow year over year in Q2 2026?
Pangaea Logistics Solutions's revenue rose $30.4M (+19%) from $157M in Q2 2025 to $187M in Q2 2026.
What drove Pangaea Logistics Solutions's revenue change in Q2 2026?
Voyage revenue +$25.4M (+17%); Charter revenue +$4.6M (+67%); Port terminal & stevedore revenue +$382K (+11%).