Pangaea Logistics Solutions Ltd. reported its financial results, highlighting a net loss attributable to the company of $1.98 million, in contrast to a net income of $11.67 million from the previous period. The company's adjusted earnings per share $(EPS)$ on a diluted basis stood at $0.14, down from $0.25 in the prior period. The adjusted net loss, which includes adjustments for unrealized gains on derivative instruments, was $2.16 million, compared to an adjusted net income of $6.59 million previously. The company noted that adjustments for non-GAAP measures included factors such as share-based compensation and unrealized gains on derivative instruments. Despite the reported loss, Pangaea Logistics Solutions Ltd. continues to focus on its core operations and business strategy.
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