Filing Flows › Pangaea Logistics Solutions (PANL) › Q3 2026 › vs Q3 2025
Pangaea Logistics Solutions (PANL) Q3 2026 vs Q3 2025 (year over year)
Pangaea Logistics Solutions's revenue rose $50.4M (+30%) from $169M in Q3 2025 to $219M in Q3 2026. The biggest changes: Voyage revenue +$37.9M (+24%); Charter revenue +$9.5M (+102%); All other revenue +$2.8M (+64%). Operating margin 19.9% against 10.0% (+9.9 pts).
Pangaea Logistics Solutions, Q3 2026: revenue $219M (+30% year over year), operating margin 19.9%, net earnings $38.3M, operating cash flow $57.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 19.9% | 10.0% | +9.9 pts |
| Net margin | 17.5% | 7.2% | +10.2 pts |
| Free cash flow margin | 25.2% | 14.5% | +10.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Voyage revenue | $193M | $155M | $37.9M | +24% |
| Charter revenue | $18.8M | $9.3M | $9.5M | +102% |
| All other revenue | $7.1M | $4.3M | $2.8M | +64% |
| Revenue | $219M | $169M | $50.4M | +30% |
| Operating profit | $43.6M | $16.9M | $26.7M | +158% |
| Costs & expenses | $175M | $152M | $23.7M | +16% |
| Pre-tax earnings | $39.6M | $13.0M | $26.6M | +205% |
| Other expense, net | $4.0M | $3.9M | $115K | +3% |
| General & admin | $7.6M | $9.9M | −$2.2M | -23% |
| Other operating costs | $168M | $142M | $26.0M | +18% |
| Net earnings | $38.3M | $12.2M | $26.1M | +213% |
| Minority interests | $1.3M | $780K | $511K | +66% |
| Depreciation & amortization | $11.9M | $10.2M | $1.7M | +17% |
| Share-based compensation | $653K | $614K | $39K | +6% |
| Working capital & other | $6.4M | $5.5M | $908K | +16% |
| Operating cash flow | $57.3M | $28.6M | $28.7M | +100% |
| Free cash flow (OCF − capex) | $55.2M | $24.4M | $30.8M | +126% |
| Capital expenditures | $2.0M | $4.2M | −$2.1M | -51% |
Questions
How much did Pangaea Logistics Solutions's revenue grow year over year in Q3 2026?
Pangaea Logistics Solutions's revenue rose $50.4M (+30%) from $169M in Q3 2025 to $219M in Q3 2026.
What drove Pangaea Logistics Solutions's revenue change in Q3 2026?
Voyage revenue +$37.9M (+24%); Charter revenue +$9.5M (+102%); All other revenue +$2.8M (+64%).