Pangaea Logistics Solutions Ltd. (PANL) has reported a decrease in its earnings for the fourth quarter from the same period the previous year, a result that fell short of financial analysts' predictions.
In this latest quarter, the company's earnings amounted to $1.14 million, equating to $0.03 per share. This is a substantial decrease from the $15.50 million, or $0.34 per share, reported in the fourth quarter of the previous year.
However, if we exclude certain items, Pangaea Logistics Solutions Ltd.'s adjusted earnings stand at $7.39 million or $0.16 per share for the period.
Financial analysts had anticipated that the company would earn $0.34 per share on average, according to data organized by Thomson Reuters. It is important to note that these estimates usually exclude unique or special items.
The company's revenue for the last quarter, nonetheless, experienced an increase of 4.2%, rising to $122.28 million from $117.34 million the previous year.
To give you a quick snapshot of Pangaea Logistics Solutions Ltd.'s earnings based on Generally Accepted Accounting Principles (GAAP):
- Earnings for Q4 are $1.14 million, compared to $15.50 million last year.
- Earnings Per Share (EPS) for Q4 are $0.03, compared to $0.34 last year.
- Revenue for Q4 is $122.28 million, compared to $117.34 million last year.
