Panty and Stocking with Garterbelt has just ended (I guess it is time for me to finish it!) and at the end of the series, they posted a "to be continued in next season" sign.
On the 20th track of the show's OST, Panty implied the second season of Panty & Stocking with Garterbelt. However, Stocking denied it saying, "No, no, it hasn't been fixed yet!" at the end of the track and added, "But practically speaking, it may be up to the director Imaishi?"
Here is the full excerpt of Panty and Stocking's conversation in regards of a sequel!
Panty: Hey Stocking! I heard our anime Panty & Stocking with Garterbelt has got the green light for a sequel thanks to the big hit!
Stocking: What? Who the hell did decide that?
Panty: Speaking of a sequel .... (Blah-blah-blah) How about a trilogy? (Blah-blah-blah) let's go into the one hundredth season!! Hollywood remake is not a dream!
Stocking: Hey wait, Panty!
Panty: This planet is too small for us! Panty in the Space! (Blah-blah-blah)
Stocking: Shit!
Panty: So when will it start?
Stocking: How should I know, shitty bitch!
Panty: The next episode, Panty & Stocking with Garterbelt Season two!
Stocking: Hey hey hey, wait! I told you it hasn't been decided yet! But, practically speaking, it could be up to the director Imanishi?
It is not yet officially announced if there would be a sequel for this show. Remember those Western cartoons in which at the end of a season, they will promise for a second season but it never happened? Also, remember the Youth Ordinance Bill and this show doesn't conform with the bill.
Will we see a second season of Panty & Stocking with Garterbelt? That is for us to find out next year!
Source: MyAnimeList