Global Partners (NYSE:GLP) Issues Quarterly Earnings Results, Beats Expectations By $1.52 EPS

Key Points

• Global Partners beat earnings expectations, reporting quarterly EPS of $1.85 versus the $0.33 consensus estimate, though revenue of $5.32 billion came in below expectations of $6.98 billion.
• The company highlighted strong year-over-year operating gains, with net income rising to $70.1 million, adjusted EBITDA increasing to $140.4 million, and adjusted distributable cash flow climbing to $96.8 million.
• Global Partners also raised its quarterly distribution to $0.765 per common unit, marking its eighteenth consecutive increase and implying a 6.3% annualized yield.

Global Partners (NYSE:GLP - Get Free Report) posted its quarterly earnings results on Friday. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.52, FiscalAI reports. The firm 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 Stock Performance

Shares of GLP traded up $0.74 during midday trading on Friday, hitting $48.49. 117,748 shares of the stock traded hands, compared to its average volume of 34,854. The business's 50 day moving average price is $46.57 and its two-hundred day moving average price is $45.25. The firm has a market capitalization of $1.65 billion, a PE ratio of 22.98 and a beta of 1.04. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14. Global Partners has a 1-year low of $39.58 and a 1-year high of $56.51.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a dividend yield of 6.3%. This is a positive change from Global Partners's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Monday, May 11th. Global Partners's dividend payout ratio is presently 144.08%.

Analyst Ratings Changes

GLP has been the subject of several research analyst reports. Wall Street Zen raised shares of Global Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Global Partners in a research note on Friday, March 27th. Stifel Nicolaus boosted their price objective on Global Partners from $45.00 to $46.00 and gave the company a "hold" rating in a report on Monday, March 2nd. Finally, Zacks Research upgraded Global Partners from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.00.

Insider Buying and Selling at Global Partners

In related news, COO Mark Romaine sold 2,020 shares of Global Partners stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $48.19, for a total value of $97,343.80. Following the sale, the chief operating officer directly owned 141,609 shares in the company, valued at $6,824,137.71. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 24,063 shares of company stock valued at $1,146,471. 41.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Partners

Large investors have recently made changes to their positions in the company. McMillan Office Inc. acquired a new position in shares of Global Partners during the fourth quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in Global Partners in the 4th quarter valued at approximately $29,000. PNC Financial Services Group Inc. acquired a new stake in Global Partners in the 3rd quarter valued at approximately $48,000. Smartleaf Asset Management LLC bought a new stake in Global Partners during the 4th quarter valued at $85,000. Finally, Geneos Wealth Management Inc. raised its stake in Global Partners by 89.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,245 shares of the energy company's stock valued at $224,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company's stock.

Global Partners Company Profile

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.

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