GLP
Global Partners LP42.44
-1.43-3.26%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
CapEx details, endless optimizations.
Q&A surfaced specifics on 2026 CapEx, with expansion dollars tilting toward terminal throughput expansions and logistics at recent acquisitions, alongside three GDSO raze-and-rebuilds. Site optimization is ongoing, never-ending. Houston bunkering grows CapEx-light via leased barges and terminals. Data analytics investments, including AI pilots, fueled 2025 SG&A increases for future efficiencies. Cold Northeast weather provides Q1 wholesale tailwind, sans guidance. Management stayed crisp on execution. Investors eye terminal upgrades for margin lift.
Key Stats
Market Cap
1.44BP/E (TTM)
20.40Basic EPS (TTM)
2.08Dividend Yield
0.07%Recent Filings
8-K
8-K
Q4 net income edges up
Global Partners LP reported Q4 2025 net income of $25.1M, edging up from $23.9M in 2024, while full-year net income fell to $98.0M from $110.3M. GDSO segment product margin surged to $231.3M, offsetting Wholesale's drop to $58.3M amid tough markets. Volumes hit 2.1B gallons. Resilient model balances segments.
10-K
FY2025 results
Global Partners LP posted FY2025 sales of $18.5B, up 8% y/y on 7.9B gallons sold—Wholesale volumes surged 28% to 5.9B gallons from acquired terminals, while GDSO dipped 5% to 1.5B gallons amid site sales. Product margin edged up to $1.2B, with Wholesale gaining on gasoline/distillate strength but Commercial slipping on bunkering; adjusted EBITDA fell to $383M from $389M amid higher SG&A and ops costs. Q4 drove momentum, accelerating volume growth despite seasonal weakness. Debt stood at $1.56B post-2033 Notes issuance/refinancing, with $1.03B credit availability. No 2026 guidance disclosed. Warmer winters risk heating oil volumes.
8-K
Q4 distribution declared
Global Partners LP declared a quarterly cash distribution of $0.7600 per common unit ($3.04 annualized) covering Q4 2025, payable February 13, 2026 to holders of record February 9. This signals steady cash flow generation amid energy market shifts. Distributions steady. Non-U.S. investors face 100% withholding as U.S. trade income.
8-K
Series B distribution declared
Global Partners LP declared a quarterly cash distribution of $0.59375 per Series B preferred unit ($2.375 annualized) for November 15, 2025–February 14, 2026, payable February 17 to holders of record February 2. This fixed 9.50% payout underscores steady preferred obligations amid energy market shifts. Non-U.S. investors face full U.S. tax withholding. Distributions roll on schedule.
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