Pangaea Logistics Solutions Ltd. Q3 adjusted earnings Miss Estimates

(RTTNews) - Pangaea Logistics Solutions Ltd. (PANL) reported earnings for third quarter that declined from the same period last year.

The company's bottom line totaled $7.55 million, or $0.17 per share. This compares with $8.32 million, or $0.19 per share, in last year's third quarter.

Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $8.06 million or $0.19 per share for the period.

Analysts had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.7% to $103.77 million from $118.89 million last year.

Pangaea Logistics Solutions Ltd. earnings at a glance:

-Earnings (Q3): $8.06 Mln. vs. $8.62 Mln. last year. -EPS (Q3): $0.19 vs. $0.20 last year. -Analysts Estimate: $0.22 -Revenue (Q3): $103.77 Mln vs. $118.89 Mln last year.