Pangaea Logistics (NASDAQ:PANL) will be reporting results tomorrow after market hours. Here's what to expect.
Pangaea missed analysts' revenue expectations by 10.8% last quarter, reporting revenues of $104.7 million, down 7.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Pangaea a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Pangaea's revenue to decline 4.8% year on year to $112.4 million, improving from the 39.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.05 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pangaea has missed Wall Street's revenue estimates four times over the last two years.
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 9.6%, beating analysts' expectations by 3.7%, and Kirby reported revenues up 6.1%, in line with consensus estimates. Matson traded up 2.3% following the results while Kirby was down 10.5%.
Read our full analysis of Matson's results here and Kirby's results here.
Investors in the marine transportation segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Pangaea is down 10.3% during the same time and is heading into earnings with an average analyst price target of $10.1 (compared to the current share price of $6.6).
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