Pangaea Logistics (NASDAQ: PANL) will be reporting earnings this Monday after market hours. Here’s what investors should know.
Pangaea beat analysts’ revenue expectations last quarter, reporting revenues of $170.6 million, up 38.9% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Pangaea a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Pangaea’s revenue to grow 23% year on year, improving from the 19.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Pangaea rarely misses Wall Street’s revenue estimates.
Looking at Pangaea’s peers in the marine transportation segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Matson delivered year-on-year revenue growth of 16.7%, beating analysts’ expectations by 8.4%, and Kirby reported revenues up 7.8%, topping estimates by 4.1%. Matson traded up 3.1% following the results while Kirby was down 9%.
Read our full analysis of Matson’s results here and Kirby’s results here.
There has been positive sentiment among investors in the marine transportation segment, with share prices up 3% on average over the last month. Pangaea is up 6.8% during the same time and is heading into earnings with an average analyst price target of $10.85 (compared to the current share price of $7.43).
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