Filing Flows › Pangaea Logistics Solutions (PANL) › How it makes money
How Pangaea Logistics Solutions (PANL) makes money
Pangaea Logistics Solutions (PANL) made $219M of revenue in the third quarter 2026 (Q3 2026), +30% from a year earlier. Voyage revenue brought in $193M (88%); Charter revenue brought in $18.8M (9%); All other revenue brought in $7.1M (3%). Of every dollar of revenue, 20¢ was left as operating profit, 17¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Voyage revenue | $193M | 88.2% | — | +24% |
| Charter revenue | $18.8M | 8.6% | — | +102% |
| All other revenue | $7.1M | 3.2% | — | +64% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $219M | 100.0% |
| Operating profit | $43.6M | 19.9% |
| Net earnings | $38.3M | 17.5% |
| Operating cash flow | $57.3M | 26.1% |
| Free cash flow | $55.2M | 25.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $219M | +30% |
| Q2 2026 | $187M | +19% |
| Q1 2026 | $171M | +39% |
| Q4 2025 | $184M | +25% |
| Q3 2025 | $169M | +10% |
| Q2 2025 | $157M | +19% |
| Q1 2025 | $123M | +17% |
From Pangaea Logistics Solutions' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Pangaea Logistics Solutions make money?
Pangaea Logistics Solutions (PANL) made $219M of revenue in the third quarter 2026 (Q3 2026), +30% from a year earlier. Voyage revenue brought in $193M (88%); Charter revenue brought in $18.8M (9%); All other revenue brought in $7.1M (3%). Of every dollar of revenue, 20¢ was left as operating profit, 17¢ was left as net earnings.
What is Pangaea Logistics Solutions' biggest business?
Voyage revenue: $193M in the third quarter 2026, 88% of revenue, +24% from a year earlier.
What is Pangaea Logistics Solutions' profit margin?
Net earnings were $38.3M, 17.5% of revenue, in the third quarter 2026; the operating margin was 19.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.