Global Partners (NYSE:GLP) Releases Earnings Results, Beats Estimates By $1.52 EPS
by Teresa Graham · The Cerbat GemGlobal Partners (NYSE:GLP – Get Free Report) issued its quarterly earnings data on Friday. The energy company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.52, FiscalAI reports. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $6.98 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.99%.
Here are the key takeaways from Global Partners’ conference call:
- Strong Q1 financials: Net income rose to $70.1M (vs. $18.7M), adjusted EBITDA was $140.4M (vs. $91.3M), and adjusted distributable cash flow was $96.8M (vs. $46.5M), driving materially higher cash generation year-over-year.
- Board approved a quarterly cash distribution of $0.7650 per common unit (annualized $3.06), the eighteenth consecutive quarterly increase, with distribution coverage of 1.96x (1.9x including preferred holders).
- Segment strength: GDSO product margin increased to $199.3M (gasoline margin up $0.06/gal to $0.41) and wholesale product margin rose to $154.1M, driven by favorable market conditions across gasoline and distillates.
- Market risks: steep backwardation in forward curves will raise the cost of carrying hedged inventory, prompting the company to draw down and tightly manage inventories to mitigate higher carrying costs and exposure.
- Capital allocation and balance sheet: 2026 guidance calls for $60–70M maintenance CapEx and $75–85M expansion CapEx (ex‑acquisitions); leverage was 3.1x funded debt/EBITDA at quarter end with ample revolver capacity.
Global Partners Trading Up 1.5%
GLP traded up $0.74 during trading on Friday, reaching $48.49. The company had a trading volume of 117,748 shares, compared to its average volume of 34,854. The firm’s 50-day simple moving average is $46.57 and its 200 day simple moving average is $45.25. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 22.98 and a beta of 1.04. Global Partners has a 12-month low of $39.58 and a 12-month high of $56.51.
Global Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 11th will be given a $0.765 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date is Monday, May 11th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 6.3%. Global Partners’s dividend payout ratio is 144.08%.
Insider Buying and Selling
In other Global Partners news, COO Mark Romaine sold 2,020 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $48.19, for a total transaction of $97,343.80. Following the completion of the sale, the chief operating officer directly owned 141,609 shares of the company’s stock, valued at approximately $6,824,137.71. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 24,063 shares of company stock worth $1,146,471 over the last ninety days. 41.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Global Partners
A number of large investors have recently made changes to their positions in GLP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Partners by 4.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after acquiring an additional 85,347 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after purchasing an additional 67,337 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Global Partners by 13.1% during the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock valued at $18,421,000 after purchasing an additional 50,890 shares during the period. UBS Group AG raised its stake in Global Partners by 26.6% during the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock valued at $11,281,000 after purchasing an additional 49,319 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Global Partners by 0.9% in the second quarter. Bank of America Corp DE now owns 137,822 shares of the energy company’s stock valued at $7,267,000 after purchasing an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on GLP. Weiss Ratings reissued a “hold (c)” rating on shares of Global Partners in a research note on Friday, March 27th. Stifel Nicolaus upped their price target on shares of Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Global Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Zacks Research upgraded shares of Global Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.
View Our Latest Stock Analysis on GLP
About Global Partners
Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.
Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.