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Pangaea Logistics (PANL)
Consistent Business Model Shines in Weak Market.
- Chalk Up Another Solid Quarter to the Consistent Business Model. Pangaea’s business model continues to deliver strong results amid severe market weakness. 1Q2019 EBITDA of $8.6 million was short of our $11.1 million estimate, but PANL generated a premium of $4,869/day to the BPI/BSI market indices, which was well above $2,801/day in 4Q2018.
- Updating 2019 EBITDA estimate. As a result of the 1Q2019 shortfall, our EBITDA estimate moves to $60.9 milli...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.